Posted on March 11, 2020
Fire Sprinkler Industry Predictions
Fire Protection Contractor has published the 2020 Fire Sprinkler Industry Predictions and our industry experts have expressed corresponding theories. While it is always difficult to identify the exact direction of the industry, there are several signs that lend to a positive year for the fire sprinkler industry despite an overall slowdown. Numerous factors go into these predictions as well as ways plan for them and respond, let’s look at the top three predictions that we see having major impacts on the industry.
Industry Prediction #1: Growth in Healthcare and Office Space Construction
Healthcare and office space construction trends are seeing massive leaps in technological and data advancements. The healthcare industry specifically, is taking integrated approaches with patient-satisfaction focused designs and BIM utilization enabling modular strategies. The need for multi-use facilities will continue to grow.
Another aspect to look at is the protection of new hazards that will need to be considered including bulk medical gas storage, data centers and clean room research facilities. The rise of on-site data centers has been driving the development of inert gas systems, water mist systems and hybrid fire extinguishing systems. Depending on the amount or type of risk the owner is willing to assume, translates into the specialized solution they deploy.
Industry Prediction #2: Disruptions in Technology
What is a disruption in technology? No, it’s not a glitch in a system. The simple definition is, products and solutions that create new markets and value networks that displace the old established market leaders and alliances, according to Clayton Christensen, author of “The Innovator’s Dilemma.” There have been significant innovations that have transformed the fire protection industry such as 3D printing, digital engineering and drone technology.
These developments have not only affected the way fire protection products are developed but designed, as well. The establishment of 3D printing, prototyping new products allows manufacturers to push products into the field significantly faster.
Another game changing innovation was the creation of virtual reality technologies that bring flat engineered models to life. The technical advancement during the pre-construction phase allows contractors and engineers to virtually walk through a 3D setting and use that information to manage collaborative design efforts of fire suppression systems in buildings.
Industry Prediction #3: Delays and Cancellations of Construction Projects
The industry is seeing delays and cancellations of evergreen construction projects. FPC reported that ½ of architecture firms projects have been delayed, scaled back or cancelled due to client concerns about business, economic or financial issues. Material cost increases are constricting new activity and with the decrease in labor availability, contractors need to invest in the skill development of their workforce and quality products to stay ahead of the curve and complete more projects on-time and under budget.
Nearly 40% of projects have been delayed and 15% cancelled altogether. There is a silver lining! According to the Engineering News Record, there are strong projections for the southern regions of the U.S. due to the recent legalization of casino gambling, promoting high-profile projects and an influx of manufacturing and industrial projects.
Fire Sprinkler Industry Predictions Summation
2020 construction spending will ultimately increase, but the volume of projects will likely be down, so optimizing projects will be more important than ever.
For the full read – check out www.fpcmag.com and subscribe here.
