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: 27-Nov-2024 | No of Pages: 284 | No. of Tables: 159 | No. of Figures: 129 | Format: PDF | Report Code : SE72
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
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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.
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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.
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The information related to key drivers, restraints and opportunities and their impact on the global market is provided in the report.
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The competitive analysis of the market players along with their market share in the global Market.
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The SWOT analysis and Porters Five Forces model is elaborated in the study.
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Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Fire Protection Systems Market Key Segments
By Product Type
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Fire Detection
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Fire Response
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Fire Suppression
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Fire Analysis
By Type
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Active Fire Protection Systems
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Passive Fire Protection Systems
By End User
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Commercial
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Industrial
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Governmental
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Institutional
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Others
By Region
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North America
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U.S
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Spain
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Italy
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Netherlands
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Denmark
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Finland
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Norway
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Sweden
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Russia
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia-Pacific
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RoW
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Latin America
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Middle East
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Africa
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Key Players:
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Gentex Corporation
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Halma Plc.
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Hochiki Corporation
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Honeywell International Inc.
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Johnson Controls International Plc.
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Minimax Viking GmbH
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Robert Bosch GmbH
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Securiton AG
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Siemens AG
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Raytheon Technologies.
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Eaton Corporation
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Carrier Global Corporation
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 |
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