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New Building Construction and Renovation Projects Drive North American Fire Suppression Systems - The North American fire suppression systems market continues to witness remarkable growth due to robust new construction and retrofit/renovation markets
New Building Construction and Renovation Projects Drive North American Fire Suppression Systems

 

NewswireToday - /newswire/ - Palo Alto, CA, United States, 2008/03/31 - The North American fire suppression systems market continues to witness remarkable growth due to robust new construction and retrofit/renovation markets.

   
 
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Steady demand from end users as well as fresh interest for emerging applications sustained steady market growth for the period between 2003 and 2006.

"Both new building construction and retrofits of existing buildings have remained buoyant, mostly driven by code compliance, thus positively impacting revenue growth," notes Frost & Sullivan Research Analyst Konkana Khaund. "Economic conditions are likely to favor an already upbeat construction market, further driving retrofits."

Analysis from Frost & Sullivan (buildingtechnologies.frost.com), North American Fire Suppression Systems Market, finds the market generated revenues of $653.5 million in 2006, a growth of 10.4 percent over 2005. The market is expected to grow at a compound annual growth rate (CAGR) of 5.6 percent to reach $954.9 million in 2013.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants an overview of the latest analysis of the North American Fire Suppression Systems Market, then send an email to Johanna Haynes, Corporate Communications, at johanna.haynes[.]frost.com with the following information: your full name, company name, title, telephone number, email address, city, state, and country. We will send you the information via email upon receipt of the above information.

Capital investments are expected to result in an increase in fire suppression system replacements or retrofits as businesses opt for improvements.

"In addition to the upbeat construction market and sustained demand from end-user industries, changing dynamics in the global political scenario and international security concerns teamed with environmental priorities and the energy crisis are essentially driving the North American fire suppression systems market," Khaund said.

Attention is shifting toward alternate fuels and fuel additives such as ethanol and alternate energy sources such as biodiesel and liquefied natural gas (LNG) due to the energy crisis and fluctuating fuel prices. Rise in alternative fuel and energy facilities represents considerable market opportunities for participating industry segments, particularly for the special type suppression systems.

Due to the war in Iraq, security concerns are on the rise for commercial and industrial facilities alike, particularly in the case of aviation facilities. These factors will certainly drive the participating market segments catering to these specific requirements.

Despite optimistic market conditions, there are challenges participants must overcome. Smaller and niche players find it difficult to maintain their positions because of increased price sensitivity in this maturing market. New participants face barriers to entry because several large companies dominate the market and also participate in acquisition and consolidation activities.

Moreover, existing participants who have difficulty meeting regulatory or statuary requirements are diversifying by introducing alternatives to traditional means of fire suppression, such as gelled halocarbon with dry chemical suspension, powdered aerosols and fluorinated ketone.

There have also been visible efforts focused on products which are not likely to become environmental hazards in the near future. Fluorinated ketone products such as Novec™ 1230, which are positioned as environmentally friendly, expect to gain more sizable share in the market, although price sensitivity will continue to determine their rate of adoption and penetration.

"Industry participants must also focus on continuously improving the performance of existing systems as well as moving toward a comprehensive solution-based offering to secure their position in this growing market," notes Khaund.

North American Fire Suppression Systems Market is part of the Building Management Technologies Growth Partnership Service program, which also includes research in the following markets: North American fire & smoke detection devices, North American energy recovery ventilation, North American building automation systems and North American markets for integration of building security systems with BAS, among others. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

North American Fire Suppression Systems Market N20C

 
 
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New Building Construction and Renovation Projects Drive North American Fire Suppression Systems

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Publisher Contact: Johanna Haynes 
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