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Market Insights - Industry Research Report
  • Published Date : June 2023
  • Report ID : 5389
  • Pages : 178
  • Industries : Industrial Automation and Machinery
  • Formats :

Fire Protection System Market

Fire Protection System Market Size, Share, & Trends Analysis by Product (Fire Detection, Fire Suppression, Fire Response, Fire Analysis, and Fire Sprinkler System), By Service (Managed Service, Installation and Design Service, Maintenance Service, and others), By Application (Commercial, Industrial, and Residential) and By Region -Global and Regional Industry Overview, Comprehensive Analysis, Market Intelligence, Historical Data, and Forecasts 2023 – 2030
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The Global Fire Protection System Market Size Was Worth USD 78.12 Billion in 2022 and is Estimated to Grow to USD 128.32 Billion by 2030, With a CAGR of Approximately 6.4 % Over the Forecast Period From 2023 To 2030.

Fire Protection System Market Overview

Fire safety is integral for business owners. A fire can spark in an instant and spread within seconds. Fire extinguishing systems reduce damage to the building, expensive equipment, documents, and inventory. In confined environments, a fire-fighting system is used to prevent, extinguish, localize, or stop fires. In buildings and rooms where there is a greater risk of fire, automatic fire-fighting systems are installed rather than manual fire-fighting systems. The strict government regulations regarding fire safety have been the major driver for the market as fire safety includes federal custodians and other agencies to take part in. False smoke alarms and detection failure have been a market restraint since the beginning. A new water mist technology is established with good technical advancement; this system protects against all hazards in the enclosed space.

COVID-19 Impact

The fire extinguishing system is under significant stress as a result of the exponential rise of COVID-19 instances throughout the world. Maintaining current clientele and creating a strong brand that resonates with consumers were essential for survival throughout the epidemic. Many businesses had to undergo a quick digital transition as a result of the epidemic. In businesses and locations, the commercial use of fire extinguishers has dropped. On the other hand, during the lockdown, individuals were at home, increasing the need for extinguishing systems in residential areas.

Market Drivers

The fact that a fire prevention system saves money over time is one of its key advantages. Consider a company’s infrastructure, hardware for information technology, and investments in manufacturing. A fire might cost a business millions of dollars if it disrupts operations for a long time. Fire safety laws and regulations are quite strict High installation and maintenance costs are a barrier to the growing adoption of wireless technology in fire detection systems. High-rise construction has increased significantly during the past several years. Massive structures are being built, however, they do not yet follow fire safety regulations. To prevent all the infrastructural developments, several agencies have issued certain guidelines for safety from fire.

Restraints

One of the deadliest and scariest events is a fire disaster. Fire and rescue services (FRSs) in England responded to 153,957 fire incidents during the fiscal year that ended in March 2020, according to the Home Office’s online Incident Recording System (IRS). Of these, false fire alarms were to blame for 42% of the recorded events. reasons for erroneous fire alarms False smoke alarms may occur for a variety of causes. Poor building maintenance is the most prevalent or significant reason. Smoke detectors should not be installed or put in a location where there is a lot of air movement because of mechanical ventilation, heating, or open windows as this might result in false alerts. This is a drawback for the market of the fire extinguishing system.

Fire protection system Market: Segmentation

The global fire protection system market has been segmented into products, services, and applications.

  • Based on product, fire detection, fire suppression, fire response, fire analysis, and fire sprinkler system are segments of the global fire protection system market. Fire detectors pick up on one or more fire-related phenomena, such as smoke, heat, infrared and/or UV radiation, gas, or smoke. Applying an extinguishing agent, such as water, foam, or chemical compounds, can put out a fire. Fire analysis is a crucial component of fire prevention because it enables well-informed choices that maximize efficiency. As the detectors function on many phenomena and are more crucial for dealing with fire, fire detection is the main component of them.
  • Based on the application, the global fire protection system market is segmented into commercial, industrial, and residential. The industrial segment is anticipated to have the highest share of this market. Fire Systems, Inc. has been in business for over 30 years. We have experience installing the most advanced solutions in the fire protection industry. From water mist suppression systems to innovative voice-integrated fire alarm systems, we do it all. As the industries expand with them, the risk of fire is also increasing. Therefore industries are the leading segment that provides the application for the fire extinguishing system.

Fire protection system Market: Regional Landscape

Due to the presence of strict government regulations and new guidelines, and development in technology, North America held a dominating position in the global market for fire protection systems in 2021. The fire extinguishing system in the North American area is well-established and includes the most recent technological advancements. Additionally, between 2022 and 2028, the market in Asia Pacific is anticipated to develop at the greatest CAGR. The region’s growing industrial and commercial places and the regulation regarding fire extinguishing for them have increased fire extinguishing system sectors in China, Japan, and India. Asia Pacific has been dealing with a fire sprinkler system as it extinguishes fire faster in industrial areas and is safer.

Fire protection system Market: Competitive Landscape

Some of the main competitors dominating the global fire protection system market include-

  1. Johnson Controls
  2. Honeywell International, Inc.
  3. Raytheon Technologies Corporation
  4. GENTEX CORPORATION
  5. Siemens
  6. Robert Bosch GmbH
  7. Halma plc
  8. Eaton

The Global Fire protection system Market is segmented as follows:

Fire Protection System Market by Production Outlook (Revenue, USD Million, 2017 – 2030)

  1. Fire Detection
  2. Fire Suppression
  3. Fire Response
  4. Fire Analysis
  5. Fire Sprinkler System

Fire Protection System Market by Service Outlook (Revenue, USD Million, 2017 – 2030)

  1. Managed Service
  2. Installation and Design Service
  3. Maintenance Service
  4. Others

Fire Protection System Market by Application Outlook (Revenue, USD Million, 2017 – 2030)

  1. Commercial
  2. Industrial
  3. Residential

Fire Protection System Market by Region Outlook (Revenue, USD Million, 2017 – 2030)

  1. North America
    • The U.S.
    • Canada
    • Mexico
  2. Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  3. Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
    • Rest of Southeast Asia
  4. The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  5. Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
Fire Protection System Market Report Scope
Report AttributeDetails
Market Size Value in 2023USD 83.11 billion
Revenue Forecast in 2030USD 128.32 billion
Growth RateCAGR of 6.4 % from 2023 to 2030
Base Year for Estimation2022
Historical Data2017 – 2022
Forecast Years2023 – 2030
Quantitative UnitsRevenue in USD million and CAGR from 2023 to 2030
Report CoverageRevenue forecast, company ranking, Trends
competitive landscape, and growth factors
Segments CoveredProduct, Service, Application, and Region
Regional ScopeNorth America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country ScopeU.S.; Canada; UK; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; UAE; Saudi Arabia; South Africa
Key Companies ProfiledJohnson Controls; Honeywell International, Inc.; Raytheon Technologies Corporation; GENTEX CORPORATION; Siemens; Robert Bosch GmbH; Halma plc; Eaton

Frequently Asked Questions

The main reasons anticipated to propel the fire protection system market during the forecast period are stringent fire safety regulations by the government, increased government support and investments in the fire safety sector.
According to the report, the global fire protection system market size was worth USD 78.12 billion in 2022 and is estimated to grow to USD 128.32 billion by 2030, with a compound annual growth rate (CAGR) of approximately 6.4 % over the forecast period.
Due to the presence of strict government regulations and new guidelines, and development in technology, North America held a dominating position in the global market for fire protection systems in 2022.
Some of the main competitors dominating the global fire protection system market include – Johnson Controls; Honeywell International, Inc.; Raytheon Technologies Corporation; GENTEX CORPORATION; Siemens; Robert Bosch GmbH; Halma plc; Eaton.

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