Potential For Residential Fire Sprinkler Market Could Exceed $3 Billion Annually
The national market potential for the installation of residential fire sprinklers is examined in a new report “Residential Fire Sprinklers Market Growth and Labor Demand Analysis,” authored by fire protection industry expert Russ Leavitt, SET, CFPS, with contributions by Steven Scandaliato, SET, and Ryan J. Smith. According to the report, the required installation of residential fire sprinklers in newly constructed one- and two-family houses has the potential to exceed $3 billion annually.
Using three different methods of calculating market potential, results for residential fire sprinkler installations in the United States ranged from $2.9 billion to $3.2 billion annually. Further, four types of labor were analyzed to project the number of additional positions needed as residential fire sprinkler requirements are adopted across the country.
“There’s no question that the recent passing of residential fire sprinkler requirements to the International Residential Code will change the industry in a breath and timeline never experienced before,” said Leavitt. “How the industry responds to the need for additional skilled labor will determine how quickly this market potential can be fully realized.”
The report considers the extent of design, installation and jurisdictional enforcement labor that will be needed to accommodate the residential fire sprinkler market growth. Most staggering is the projected amount of sprinkler installation labor that will be required, as the conservative analysis calculates more than 7,000 additional positions.
“Residential Fire Sprinklers Market Growth and Labor Demand Analysis,” published by Fire Smarts LLC, is available for download at www.ResidentialFireSprinklers.com. Fire Smarts LLC, is a leading provider of online educational and marketing services focused on fire protection.