South Korea Fire Suppression System Market Size & Outlook
South Korea fire suppression system market, 2018-2030 (US$M)
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South Korea fire suppression system market highlights
- The South Korea fire suppression system market generated a revenue of USD 362.2 million in 2023 and is expected to reach USD 537.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.8% 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.
Fire suppression system market data book summary
| Market revenue in 2023 | USD 362.2 million |
| Market revenue in 2030 | USD 537.0 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Fire extinguishers |
| 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, South Korea accounted for 1.7% 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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South Korea 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 62.12% in 2023. Horizon Databook has segmented the South Korea fire suppression system market based on fire extinguishers, sprinklers covering the revenue growth of each sub-segment from 2018 to 2030.
According to the U.S. Department of State, South Korea is an attractive investment destination for foreign players largely due of its political stability, logistics, and information & communications infrastructure.
These policies promote self-sufficiency and industrial advancement by increasing mine development activities. Macroeconomic variables, such as increased income and spending power, support the expansion of the fire suppression systems market in the country over the forecast period.
South Korea's textile industry is rebounding as a high-value-added growth industry with cutting-edge technologies. During the current global economic recovery, South Korean textile manufacturers are reaping the benefits of their constant R&D.
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Target buyers of South Korea fire suppression system market databook
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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 South Korea fire suppression system market , including forecasts for subscribers. This country databook contains high-level insights into South Korea fire suppression system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea fire suppression system market size, by product, 2018-2030 (US$M)
South Korea Fire Suppression System Market Outlook Share, 2023 & 2030 (US$M)
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