Latin America Fire Suppression System Market Size & Outlook
Latin America fire suppression system market, 2018-2030 (US$M)
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Latin America fire suppression system market highlights
- The Latin America fire suppression system market generated a revenue of USD 1,067.3 million in 2023.
- The market is expected to grow at a CAGR of 5.1% from 2024 to 2030.
- In terms of segment, fire extinguishers was the largest revenue generating product in 2023.
- Sprinklers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,067.3 million |
| Market revenue in 2030 | USD 1,516.6 million |
| Growth rate | 5.1% (CAGR from 2023 to 2030) |
| Largest segment | Fire extinguishers |
| Fastest growing segment | Sprinklers |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 5.1% of the global fire suppression system market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 2,645.7 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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Latin America 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.
Fire extinguishers was the largest segment with a revenue share of 57.5% in 2023. Horizon Databook has segmented the Latin America fire suppression system market based on fire extinguishers, sprinklers covering the revenue growth of each sub-segment from 2018 to 2030.
Economic growth in the U.S. is expected to benefit the manufacturing sector in Central & South America, as the region relies on the U.S. as a significant export destination. The positive growth of the manufacturing industry is likely to drive the demand for various fire suppression products in the region, thereby increasing market demand.
Rising investment in exploration and production and refining capacity expansion projects is expected to promote the use of the products in the oil and gas sector. Furthermore, increasing investment by automotive companies in the region for capacity expansion and rising exports of various goods are expected to propel demand for fire suppression products over the forecast period.
The development of ports, high-rise luxury apartment buildings, and hotels required to encourage the tourism sector is projected to stay in place to support construction spending across various countries in the region, further propelling the growth of the fire suppressions product.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America fire suppression system market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America fire suppression system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America fire suppression system market size, by country, 2018-2030 (US$M)
Latin America Fire Suppression System Market Outlook Share, 2023 & 2030 (US$M)
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