Prominently driven by rapid increase in establishment of food manufacturing and processing units, adoption of fire protection systems for industrial cooking is further fueled by industrial safety regulatory framework. The market build-up has been solid over the past decade and is set for a healthy CAGR of 6% during the forecast period (2019 - 2029).
A new Future Market Insights (FMI) study reveals that Asian markets are turning highly lucrative for manufacturers of fire protection systems catering to industrial cooking sector, as Asia Pacific has been witnessing strong growth in the commercial kitchen and foodservice industry.
Key Takeaways - Fire Protection Systems for Industrial Cooking Market Study
- Wireless, automatic, and compact designs in fire alarm systems that fit most industrial layouts, and are compliant with guidelines set by regulatory bodies such as NFPA, are projected to gain more relevance.
- High installation and maintenance costs of wired alarms will result in reduced preference for these systems in the future.
- Key players are focused on launching early suppression fast response fire sprinkler systems that are capable of releasing large volumes of water (100 gallons per min), and have improved response time.
- North America currently represents more than a fourth of the global market value and will continue to lead its way in fire protection systems for industrial cooking market.
- In the backdrop of a large number of fire incidents in the U.S., strategic collaborations between manufacturers and installers will complement the amplifying demand for fire protection systems in industrial cooking sector.
- Increasing demand for commercially-prepared food has paved the way for a growing number of food joints and restaurant chains. Robust growth in food ventures has been witnessed in recent years, which is expected to reduce cooking activities within industrial and manufacturing unit premises.
Fire protection systems for industrial cooking are designed and installed in accordance with standards, codes, and rules that are based on actual fire tests. Product customization, with proven advanced fire protection system installations, will play a key role in the value chain of the market.
Competitive Landscape Remains Fragmented
The market structure is considered to be fairly fragmented, with a large number of smaller companies offering identical products. Furthermore, growing number of players in the fire protection systems for industrial cooking market has been driving manufacturers to incorporate forward integration in terms of services, by offering installation, product consultancy, and aftersales support.
For More Detailed Insights on Fire Protection Systems for Industrial Cooking Market
Key players such as Honeywell International Inc, Siemens AG, United Technologies Corporation, Emerson Electric Co., Johnson Controls International Plc, and Gentex Corporation hold a prominent share of market pie in terms of revenue, backed by long-term partnerships with consumers and well-established sales networks.
On the other hand, top manufacturers are strategically acquiring regional players, and retaining their brands to expand global presence. For instance, Johnson Controls International Plc provides safety services and solutions such as fire extinguishing systems under many brand names, including Ansul, Tyco Integrated Security, and Tyco SimplexGrinnell.
What Lies Ahead for Fire Protection Systems for Industrial Cooking Market?
Increased inclination towards performance efficiency will continue to be the prime driver for the development of technologically-advanced fire protection systems for use in various industries. Most customers are inclined towards purchasing fire protection systems with novel connectivity systems and reduced response times.
Fire Protection Systems for Industrial Cooking Market: Summary
Future Market Insights (FMI), in its new global fire protection systems for industrial cooking report, brings to fore an even-handed analysis of the global fire protection systems for industrial cooking market, offering comprehensive information with historical demand data for 2014 - 2018, and forecast statistics for 2019 - 2029. The research study offers insightful aspects of the global fire protection systems for industrial cooking market based on various categories such as product type, end use, and region. A detailed value chain analysis regarding procurement, aftermarket services, and pricing analysis has been presented in the report.
For detailed information on how the market will shape up in the following years, write to the analyst at [email protected]
About Industrial Automation & Equipment division of FMI
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry stakeholders and channel partners when it comes to sustain, grow, and identify new revenue prospects.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.