Global Fire Protection Systems Market by Product Type (Fire Detection, Fire Response, Fire Suppression, and Fire Analysis), by Type (Active Fire Protection Systems and Passive Fire Protection Systems), and by End user (Commercial, Industrial, Governmental, Institutional, and Others)– Global Opportunity Analysis and Industry Forecast 2021-2030.
Industry: Semiconductor & Electronics | Publish Date: 20-Jul-2021 | No of Pages: 284 | No. of Tables: 159 | No. of Figures: 129 | Format: PDF | Report Code : N/A
Speak to Our Analyst
Market Definition
The global Fire Protection Systems Market was valued at USD 96.21 billion in 2020 and is predicted to reach USD 152.88 billion by 2030 with a CAGR of 4.3% from 2021-2030.
Fire protection systems are used to suppress or control fire with the help of manual or automatic detectors. These systems are essentially installed in any building to detect, control and extinguish potential fire outbreaks. They consist of various components such as flame detectors, smoke control device, fire alarms and automatic sprinkler system, which help to alarm the building residents on time and thereby reduce the loss of properties. Apart from residential buildings, fire protection systems find application in various other sectors such as banks, institutions, mining, oil & gas, healthcare and transportation among others for safeguarding against fire.
Market Dynamics and Trends
The growth of fire protection systems market is gaining momentum due to stringent government regulation to install fire protection system in residential and non-residential buildings across the globe. In addition, oil & gas and mining industries extensively make use of materials such as petroleum, flammable gases and coal which are highly vulnerable to fire. Therefore, to prevent fire accidents there is high demand of fire protection systems in these sectors, which consequently boost the growth of the market. Moreover, rising concerns related to public safety and surge in the number of property damage cases due to fire accidents also drive the growth of the fire protection market.
For instance, in 2019, local fire department of U.S estimated that there were 1.3 million fire cases occurred alone in the U.S. These fire accidents caused 3,700 civilian deaths and estimated $14.8 million worth of property damage. Moreover, technological advancements in the industry enables the use of computer and cameras in order to see the visible effects of fire and addressable system to detect the exact location of power in the event of an incident. This in turn fuels the growth of fire protection system.
However, high initial cost and unpredicted failure of fire alarms are the factors expected to hinder the growth of the market. Also, worldwide outbreak of Covid-19 has disrupted production and supply chain of the fire protection equipment, which is expected to hamper the fire protection market growth projection during the forecast period.
Market Segmentations and Scope of the Study
The global fire protection systems market report is segmented on the basis of product type, type, end-user and geography. On the basis of product type, the market is divided into fire detection, fire response, fire suppression, and fire analysis. On the basis of type, the market is categorized into active fire protection systems and passive fire protection systems. On the basis of end user, the market is segregated into commercial, industrial, governmental, institutional, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America holds the lion's share of the fire protection systems market. This is attributed to the factors such advancement in fire protection equipment, stringent fire safety regulation and increasing construction of commercial building. Besides, rising awareness about fire safety concerns and increasing damage of properties due to fire accidents also boost the market growth in this region.
However, the Asia Pacific is expected to witness the highest growth rate during the forecast period. The growth is most likely to be fueled by the rapid industrialization, increasing construction of residential buildings and government regulation towards safety.
Competitive Landscape
The fire protection systems industry, which is highly competitive, consists of a few major players such as Gentex Corporation, Halma Plc., Hochiki Corporation, Honeywell International Inc., Johnson Controls International Plc., Minimax Viking GmbH, Robert Bosch GmbH, Securiton AG, Siemens AG, Raytheon Technologies, Eaton Corporation, and Carrier Global Corporation. The market players have adopted various strategies such as product launch and acquisition to maintain their dominance in the market.
For instance, in June 21, 2019, Halma Plc announced that it has acquired Ampac, which is a fire and evacuation system company in the Australian and New Zealand market. This acquisition supports Halma Plc’s strategy to grow its business internationally, strengthen its market position and enhance its fire system offering.
Also, in November 13, 2020, Johnson Controls International Plc. launched Smart Connected Fire Sprinkle Monitoring solution that has 24/7 remote monitoring capabilities, which helps to prevent system failure. This monitoring system continuously collects data such as water presence, pressure and temperature to provide proactive notification to building manager who can than quickly manage the issue.
Key Benefits
-
The global fire protection systems market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
-
The study comprises a deep dive analysis of the global fire protection systems market including the current and future trends for depicting the prevalent investment pockets in the market.
-
The information related to key drivers, restraints and opportunities and their impact on the global market is provided in the report.
-
The competitive analysis of the market players along with their market share in the global Market.
-
The SWOT analysis and Porters Five Forces model is elaborated in the study.
-
Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Fire Protection Systems Market Key Segments
By Product Type
-
Fire Detection
-
Fire Response
-
Fire Suppression
-
Fire Analysis
By Type
-
Active Fire Protection Systems
-
Passive Fire Protection Systems
By End User
-
Commercial
-
Industrial
-
Governmental
-
Institutional
-
Others
By Region
-
North America
-
U.S
-
Canada
-
Mexico
-
-
Europe
-
UK
-
Germany
-
France
-
Spain
-
Italy
-
Netherlands
-
Denmark
-
Finland
-
Norway
-
Sweden
-
Russia
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
South Korea
-
Australia
-
Indonesia
-
Singapore
-
Taiwan
-
Thailand
-
Rest of Asia-Pacific
-
-
RoW
-
Latin America
-
Middle East
-
Africa
-
Report Scope and Segmentation
|
Parameters |
Details |
|
Analysis Period |
2019–2030 |
|
Base Year Considered |
2020 |
|
Forecast Period |
2021–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Market Segmentation |
By Product Type (Fire Detection, Fire Response, Fire Suppression, Fire Analysis) By Type (Active Fire Protection Systems, Passive Fire Protection Systems) By End User (Commercial, Industrial, Governmental, Institutional, Others) |
|
Countries Covered |
28 |
|
Companies Profiled |
Gentex Corporation, Halma Plc., Hochiki Corporation, Honeywell International Inc., Johnson Controls International Plc., Minimax Viking GmbH, Robert Bosch GmbH, Securiton AG, Siemens AG, Raytheon Technologies, Eaton Corporation, and Carrier Global Corporation |
KEY PLAYERS
-
Gentex Corporation
-
Halma Plc.
-
Hochiki Corporation
-
Honeywell International Inc.
-
Johnson Controls International Plc.
-
Minimax Viking GmbH
-
Robert Bosch GmbH
-
Securiton AG
-
Siemens AG
-
Raytheon Technologies.
-
Eaton Corporation
-
Carrier Global Corporation
At Next Move Strategy Consulting, we understand that insightful market research is the cornerstone of successful business decisions. That's why we employ a robust and multifaceted approach, combining various methodologies to deliver the most accurate and actionable data for our clients.
Research Landscape
We navigate the world of research with two primary approaches:
Qualitative Approach
Our qualitative research methodologies involve immersive techniques such as in-depth interviews, focus groups, and observational studies. By engaging directly with individuals and stakeholders, we uncover valuable insights that quantitative data alone may overlook.
Quantitative Research
In tandem with qualitative methodologies, NMSC leverages the power of Quantitative Research to provide a robust foundation of numerical insights. Through systematic data collection and analysis, we quantify patterns, preferences, and market trends, offering a comprehensive view of the business landscape.
Our quantitative research approach employs diverse tools, including surveys, experiments, and statistical modelling. These methodologies enable us to gather data from a large and representative sample, ensuring the statistical significance of our findings. By employing structured questionnaires and standardized data collection methods, we guarantee the reliability and validity of the information we present to our clients.
Quantitative research is particularly effective in measuring the prevalence of trends, assessing market size, and gauging the impact of various factors on consumer behavior. The numerical precision attained through this approach equips our clients with actionable insights, facilitating data-driven decision-making and strategy formulation.
Our Specialized Toolbox for Industry-Specific Market Research
We deploy a specialized arsenal of techniques tailored to meet your unique requirements. Here's a glimpse into our comprehensive toolbox:
Information Procurement
The stage entails acquiring market data or relevant information through various sources and methodologies.
Market Research Approach
We utilize both top-down and bottom-up approaches in market research analysis to achieve a comprehensive understanding of the market dynamics, leveraging the broad perspective of industry trends and macroeconomic factors alongside detailed insights from specific segments and individual companies.
Porters Five Forces Analysis
We conduct Porter's Five Forces analysis to evaluate the competitive landscape of an industry, providing us with insights into factors that affect profitability and strategic positioning.
SWOT Analysis
We conduct SWOT analysis to understand market trends, identify potential threats, capitalize on opportunities, and assess our strengths and weaknesses.
Forecasting
We utilize a forecasting model to predict future consumption by considering parameters like population, economics, regulations, market competition, drivers, constraints, technology, and pricing. We also employ statistical techniques such as multilinear regression, exponential smoothing, moving average, ARIMA, and Monte Carlo simulations for accurate predictions. In econometric forecasting, we analyzed short-term and long-term event impacts, attributing values based on regulatory frameworks, economic factors, and market events.
Frequently Asked Questions
Download Free Sample
Related Blogs
AI-Powered Tactile Sensors Revolutionizing Industry with Touch
Introduction In the landscape of industrial technology, the integration of arti...
How Technological Advancements in Digital Pen is Reshaping the Market
Introduction As the digital pen market continues to evolv...
Smart Dust: The Future of Sensor Technology
Introduction Smart Dust is a collection of several microelectromechanical systems (MEMS) such as sensors and other devices that...
