Industry News: Fire Suppression Equipment Market share will grow at CAGR of 4.7% says Report Ocean

Global Fire suppression equipment market was valued at $24.9 billion in 2019 and is anticipated to generate $32.9 billion by 2027. The market is projected to experience growth at a CAGR of 4.7% from 2020 to 2027.
Fire suppression equipment are devices that are used in events of fire to prevent its further spread. The suppression equipment is used either with dry or wet chemicals suppressors. They are cost-effective and easily available in the market. Moreover, they are easy to install, handle, and use during the event of fire. Fires can be caused by many reasons such as cooking, heating, electrical short circuit, wildfires, grilling, lightning, smoking, candles, and others.