China Fire Suppression System Market Size & Outlook
China fire suppression system market, 2018-2030 (US$M)
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China fire suppression system market highlights
- The China fire suppression system market generated a revenue of USD 1,868.3 million in 2023 and is expected to reach USD 3,044.6 million by 2030.
- The China market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, sprinklers was the largest revenue generating product in 2023.
- Sprinklers is the most lucrative product segment registering the fastest growth during the forecast period.
Fire suppression system market data book summary
| Market revenue in 2023 | USD 1,868.3 million |
| Market revenue in 2030 | USD 3,044.6 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Sprinklers |
| Fastest growing segment | Sprinklers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fire Extinguishers, Sprinklers |
| Key market players worldwide | Minimax, Gentex Corp, Halma PLC, Hochiki Corp ADR, Honeywell International Inc, Johnson Controls International PLC, Siemens AG, RTX Corp, Bosch |
Other key industry trends
- In terms of revenue, China accounted for 8.8% of the global fire suppression system market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China fire suppression system market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 820.9 million by 2030.
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Fire Suppression System Market Scope
Fire Suppression System Market Companies
| Name | Profile | # Employees | HQ | Website |
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China fire suppression system market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to fire suppression system market will help companies and investors design strategic landscapes.
Sprinklers was the largest segment with a revenue share of 60.96% in 2023. Horizon Databook has segmented the China fire suppression system market based on fire extinguishers, sprinklers covering the revenue growth of each sub-segment from 2018 to 2030.
According to the IMF World Economic Outlook, the GDP growth rate of China was 8.1% in 2021, which can be attributed to the large-scale capital investments financed by large domestic savings and foreign investment coupled with rapid growth in productivity.
The economic growth in China was impacted severely by the deepening U.S.-China trade tensions as well as the outbreak of COVID-19 in 2020. Rapid urbanization in China is one of the primary factors boosting the growth of the construction sector.
The government has implemented the National New-type Urbanization Plan 2014–2020 to manage excessive growth in urban areas. Various demographic factors such as rising elderly population and increasing standards of living owing to urbanization are expected to drive construction industry in the country.
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Our clientele includes a mix of fire suppression system market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the China fire suppression system market , including forecasts for subscribers. This country databook contains high-level insights into China fire suppression system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China fire suppression system market size, by product, 2018-2030 (US$M)
China Fire Suppression System Market Outlook Share, 2023 & 2030 (US$M)
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