PROJECTED MARKET OPPORTUNITY

The United States fire suppression market is anticipated to surpass annual installations of 150 million units by the year 2024. The commercial sector is forecasted to be the primary driver of this growth, although the industrial and residential sectors are also expected to experience an uplift. The industry's expansion is fueled by strong compliance with building safety standards and an increasing consumer consciousness regarding the importance of implementing life safety measures. These factors, along with various other key drivers, are poised to propel the market in the coming years.

Market Growth Drivers:

• Growing new building construction markets

• Increasing government norms enhancing fire protection requirements

• Favorable government safety standards and legislations

• Increased industrialization and urbanization

• Greater awareness of fire protection systems by consumers