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The global high pressure fixed firefighting misting system market size is estimated to exhibit USD 472.6 million by 2026. The market is expected to gain excellent traction owing to the cost-effectiveness and eco-friendly properties of water misting systems. As per a report published by Fortune Business Insights, titled “High Pressure Fixed Firefighting Misting System Market Size, Share and Global Trend By Application (Industrial, Commercial, Residential, Others), and Geography Forecast till 2025,” the market value stood at USD 291.5 million in 2018. Driven by several product launches, the market is projected to rise at a CAGR of 6.3% during the forecast period, 2018 – 2025.
The HI-FOG® Water Mist Fire Protection System launched by the Marioff Corporation, especially for specific cargo spaces and Ro-Ro decks has become much popular over the last decade due to its high efficiency and lesser stability issues. Similar product launches were recorded in the previous few years, which are likely to raise awareness about importance of firefighting system among people and increase demand in the global high pressure fixed firefighting misting system market. Besides Marioff, some of the major companies operating in the global high pressure fixed firefighting misting system market are FOGTEC Brandschutz GmbH & Co. KG, Ultra Fog, Global Service, The Danfoss Group, Tyco, Securiplex Inc., and Swastik Synergy Engineering.
The increasing safety concern among cloud service providers has shifted their preference toward the firefighting misting system due to the misting system’s qualities such as easy installation, faster activation, and eco-friendly. Furthermore, misting systems being harmless to people and environment are gaining popularity among customers.
Among key application segments, the industrial sector is expected to grow with the highest CAGR of more than 8% between 2018 and 2025 compared to other segments. Minimal damage, increased efficiency, and cost-effectiveness are certain factors that led to increased adoption of high pressure fixed firefighting misting systems among industrial customers.
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Decreased Water Consumption Propelling the Demand for High Pressure Misting System
“Implementation of government policies for mandatory fire safety across developing and undeveloped nations will propel the demand in the global high pressure fixed firefighting misting system market.”
Cost-effective, eco-friendly, and innovative installation methods are a few advantages commonly associated with these firefighting systems, which are expected to drive the global high pressure fixed firefighting misting system market during the forecast period 2018-2025. Moreover, reduction in water consumption has influenced people to shift from convention sprinklers to high pressure misting systems. This is the primary factor expected to increase the demand in the global high pressure fixed firefighting misting system market.
However, high costs associated with installation of high pressure fixed firefighting misting systems may restrain the global high pressure fixed firefighting misting system market to a certain extent during the forecast period.
North America Leading the Global High Pressure Fixed Firefighting Misting System Market
North America, held the highest market share in the global high pressures fixed firefighting misting system market in 2017. The North America market for high pressure fixed firefighting misting system stood at USD 156.3 million. The market in North America is expected to witness upward growth owing to certain features attributed to the high pressure misting system such as minimum damage, high efficiency, and minimal clean up before an accident.
This report also provides an insightful overview of opportunities, strategies used by the leading organization in the market, and the potential areas of development.
The global high pressure fixed firefighting misting system market can be segmented into the following categories: