Wet Fire Sprinkler Systems Market Analysis, Trends, Size and Forecasts to 2020

Technavio Announces the Publication of its Research Report Global Wet Fire Sprinkler Systems Market 2016-2020

Technavio recognizes the following companies as the key players in the global wet fire sprinkler systems market: Global Fire Sprinkler, Minimax Viking, Reliable Automatic Sprinkler, Siemens, Tyco International, and United Technologies

Commenting on the report, an analyst from Technavios team said: One of the key trends for market growth will be decline in cost of installing fire sprinkler systems. In 2015, the cost of installing wet fire sprinklers in the newly constructed home was $1.30 per square foot, compared to $1.61 in 2008. In other words, it costs around 0.98% of the total construction cost, which includes the cost associated with design, installation, additional equipment, electrical work, and permits. One of the major factors for the decline in the installation cost is advances in fire sprinkler systems such as the availability of the more flexible piping system and extended coverage sprinklers.”

Browse full report with TOC@ https://marketreportscenter.com/reports/356386/global-wet-fire-sprinkler-systems-market-2016-2020

According to the report, one of the key drivers for market growth will be the proposed Fire Sprinkler Incentive Act. Fire Sprinkler Incentive Act was first proposed in both the House and Senate in 2003 in the US, which amend the 1986 Internal Revenue Code by classifying automatic fire sprinkler system retrofits as either a Section 179 depreciation deduction or a 15-year property for purposes of depreciation. Currently, the tax depreciation time for fire sprinkler retrofit is 39-years for commercial building and 27.5 years for residential building. This Act is supported by Congressional Fire Services Institute (CFSI) and was drafted in response to the station nightclub fire that killed 100 people in Rhode Island.

Further, the report states that need for continuous support and maintenance will be a challenge for the...