South Korea Powder Fire Suppression Systems Market Size & Outlook
South Korea powder fire suppression systems market, 2018-2030 (US$Ms)
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South Korea powder fire suppression systems market highlights
- The South Korea powder fire suppression systems market generated a revenue of USD 91.5 millions in 2023 and is expected to reach USD 133.9 millions by 2030.
- The South Korea market is expected to grow at a CAGR of 5.6% 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 91.5 millions |
| Market revenue in 2030 | USD 133.9 millions |
| Growth rate | 5.6% (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, South Korea accounted for 2.0% 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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South Korea 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 46.78% in 2023. Horizon Databook has segmented the South Korea powder fire suppression systems market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S.-Korea Free Trade Agreement (KORUS), which came into force in 2019, further improved the investment inflow from the U.S. Textile, steel, automobile manufacture, shipbuilding, and electronics are among the major industries which contributes mainly contributes to the South Korea’s GDP.
Diverse measures have been put in place to promote reasonable development and a consistent supply of local natural resources. These policies promote self-sufficiency and industrial advancement by increasing mine development activities.
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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea powder fire suppression systems market , including forecasts for subscribers. This country databook contains high-level insights into South Korea powder fire suppression systems market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea powder fire suppression systems market size, by application, 2018-2030 (US$Ms)
South Korea Powder Fire Suppression Systems Market Outlook Share, 2023 & 2030 (US$Ms)
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