By 2022, the market for automatic fire suppression systems (AFSS) is anticipated to reach a value of over US$ 17 billion. Sales are expected to increase by 5% CAGR during the assessment period due to rising concerns about the security of professionals working in the industrial and commercial sectors.
Untapped opportunities and potential threats are revealed by a recent study by Future Market Insights on the automatic fire suppression system (AFSS) market globally. Through a thorough segmentation of the primary growth factors, opportunities, restraints, and challenges anticipated to rule the market in the upcoming years, the Automatic Fire Suppression System (AFSS) market is incisively covered in the study. According to FMI, the industrial automation market is expected to have a bright future through 2022 and beyond.
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Increasing usage of machines and demand for high quality products in various industries coupled with installation of smart devices in the machinery are some of the factors propelling the growth of Automatic Fire Suppression System (AFSS) market in industrial automation industry. Industries are implementing the automation to increase the productivity and reduce labor costs. FMI provides detailed insights about the industry for the market players to craft their long-term strategies to maintain the competitive edge in the industry.
According to the FMI’s report, the Automatic Fire Suppression System (AFSS) market is projected to record a CAGR of xx% over the forecast period. To receive the detailed insights about the Automatic Fire Suppression System (AFSS) market, our experts relies on the primary and secondary research, and various wide range of data set gathered from organic and inorganic sources to provide estimates for the upcoming decade.
Understanding the Impact of Covid-19 on Industrial Automation Industry
The COVID-19 outbreak has been posing staggering challenges for the industry. Like other industries, the industrial automation industry has been particularly affected due to the lack of equipment and availability of the products. Furthermore, dearth of labor, factory closures, and supply restrictions induced by the pandemic crisis resulted in slight setback in 2022.
Lack of human assistance and key player’s hesitation in investing for high-end machineries during the pandemic has negatively impacted the industrial automation industry in 2022. However, with relaxation in lockdown, the Automatic Fire Suppression System (AFSS) market has picked up the pace.
The FMI’s recent report talks about the market scenario in the chapter on the Covid-19 impact analysis to aid the market players for the upcoming years. The report gives a detailed market analysis surrounding the market condition and its impact on the Automatic Fire Suppression System (AFSS) market.
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Key Questions Answered in the Report
- What are the key trends and challenges that will affect global Automatic Fire Suppression System (AFSS) market in upcoming years?
- What are the factors that will influence the Automatic Fire Suppression System (AFSS) market demand?
- Which region will be the most lucrative for Automatic Fire Suppression System (AFSS) market throughout the forecast period?
- How will evolving regulatory policies impact the market growth?
- What is the impact of Covid-19 on the Automatic Fire Suppression System (AFSS) market?
Key Segments Profiled in the Automatic Fire Suppression System (AFSS) Industry Survey
Product Type:
- Engineered Automatic Fire Suppression Systems
- Pre-Engineered Automatic Fire Suppression Systems
End-Use Industry:
- Oil and Gas
- Mining
- Manufacturing
- Automotive
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa
Comprehensive analysis of the regional markets offers exclusive insights on the market performance across geographies along with relevant graphs, figures, and list of tables.
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Competitive Analysis
By Prominent Market Players
- Johnson Controls
- Halma PLC
- Siemens AG
- Honeywell International Inc.
- Robert Bosch GmbH
With a detailed segmentation on segments and sub-segments, the FMI’s study offers the strengths, weaknesses, growth prospects and opportunities of each player. The report also includes important market study including the historical revenue prospects, pricing strategy, and marketing strategy adopted by these players in the Automatic Fire Suppression System (AFSS) market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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