Global Marine Firefighting Equipment Market to Grow At CAGR of Forecast 2.31% 2017-2021

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Albany, US, 2017-Aug-29 — /EPR Network/ — Market Research Hub (MRH) has recently broadcasted a new study to its broad research portfolio, which is titled as Global Marine Firefighting Equipment Market 2017-2021”, as fire extinguishing systems, water mist, spray, and sprinkler systems, and fire detection and alarm systems is used in on board seaborne vessels to safeguard them from fire accidents. All sea vessels are required to carry a minimum number of marine firefighting equipment as per the regulations imposed by regulatory bodies. There are several regulations framed by the Safety of Life at Sea (SOLAS) Convention, particularly Regulation 10.10.4, which pertains to firefighting and the adoption of marine firefighting equipment in seafaring vessels.

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Technavio’s market study identifies the growth in cruise shipping industry to be one of the primary growth factors for the marine firefighting equipment market. The growing demand from cruise travel agencies and the passion of cruisers for travelling has influenced the growth of the cruise shipping industry. This increases investments to cater to the growing demand, which consequently increasing the number of cruise ships plying for river and sea cruises. With the mandatory need to equip ships with safety equipment such as fire extinguisher, smoke detectors, fire alarms, and automatic sprinkler systems, this increase in number of cruises will have a significant impact on the growth of the marine firefighting equipment market. Our market research analysts estimate that this market will grow steadily at a CAGR of 2.31% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global marine firefighting equipment market for 2017-2021. To calculate the market size, the report considers the demand for firefighting equipment from the marine industry.

The market is divided into the following segments based on geography:

Technavio’s report, Global Marine Firefighting Equipment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Akron Brass
Amerex Fire International
Asiatic Fire System

Other prominent vendors
BRK Brands
Danfoss Semco
Delta Fire
Elkhart Brass Manufacturing
Fluid Global Solutions
Garbarino Pumps Asia
Hochiki Europe
Jason Engineering
Survitec Group

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Market driver
Growing international market for OPVs
For a full, detailed list, view our report

Market challenge
Slowdown in South Korea’s shipbuilding industry
For a full, detailed list, view our report

Market trend
Restructuring of China’s economy
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?

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