China Powder Fire Suppression Systems Market Size & Outlook
China powder fire suppression systems market, 2018-2030 (US$Ms)
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China powder fire suppression systems market highlights
- The China powder fire suppression systems market generated a revenue of USD 265.9 millions in 2023 and is expected to reach USD 437.0 millions by 2030.
- The China market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, industrial was the largest revenue generating application in 2023.
- Residential is the most lucrative application segment registering the fastest growth during the forecast period.
Powder fire suppression systems market data book summary
| Market revenue in 2023 | USD 265.9 millions |
| Market revenue in 2030 | USD 437.0 millions |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Industrial |
| Fastest growing segment | Residential |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD millions |
| Market segmentation | Residential, Commercial, Industrial |
| Key market players worldwide | Johnson Controls International PLC, Carrier Global Corp Ordinary Shares, Reliable Fire Equipment, Koorsen fire & security, Gielle Industries, Afex, American Fire Technologies, Stat-X, Buckeye Fire Equipment Company, Amerex Corporation, Siex 2001, Hochiki Corp ADR, NAFFCO Group, Halma PLC |
Other key industry trends
- In terms of revenue, China accounted for 5.9% of the global powder fire suppression systems market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China powder fire suppression systems 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 207.7 millions by 2030.
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Powder Fire Suppression Systems Market Scope
Powder Fire Suppression Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
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China powder fire suppression systems 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 powder fire suppression systems market will help companies and investors design strategic landscapes.
Industrial was the largest segment with a revenue share of 43.44% in 2023. Horizon Databook has segmented the China powder fire suppression systems market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
Rapid urbanization in China is one of the primary factors boosting the growth of construction sector. The government has implemented the National New-type Urbanization Plan 2014–2020 to manage excessive growth in urban areas.
China is likely to emerge as one of the promising markets for industrial buildings due to favorable government policies promoting investments in manufacturing sector. Such favorable factors are expected to fuel the demand for industrial buildings, in turn, driving the need for fire safety.
Incentives offered by the government of China to promote manufacturing and the subsequent easing of FDI norms have immensely contributed to the growth of manufacturing sector in the country. Most of the FDIs in manufacturing sector were from Europe, wherein major companies have been involved in merger & acquisition activities.
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Horizon Databook provides a detailed overview of country-level data and insights on the China powder fire suppression systems market , including forecasts for subscribers. This country databook contains high-level insights into China powder fire suppression systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China powder fire suppression systems market size, by application, 2018-2030 (US$Ms)
China Powder Fire Suppression Systems Market Outlook Share, 2023 & 2030 (US$Ms)
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