The fire protection system market is estimated to register a robust CAGR during the forecast period, between 2021 and 2028. Fire suppression system protects residents of a building or establishment from fire hazards by controlling, detecting, and preventing fires. As a result, smoke or fire can be extinguished and building inhabitants are alerted, reducing property damage and life losses. Fire protection systems include equipment, such as fire detectors, fire response systems, fire analysis software, fire suppression systems, and fire sprinkler systems. These systems are installed in various infrastructures, including industrial, residential, and commercial buildings, to safeguard people and reduce the loss of destruction from fire hazards.
Many developing nations lag behind in adopting fire protection systems. Consumers are mostly unaware of the product due to low regulatory pressure and lack of awareness. However, the efforts of manufacturers, distributors, and system integrators have made users more aware. The launch of fire safety programs and the use of targeted marketing explaining the benefits of a fire protection system have drawn the attention of large as well as small & medium enterprises. This has led to steady market growth over the past few years.
The report on fire protection system market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Fire Protection System Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018 & 2019 |
Forecast Period |
2021–2028 |
Segmentation |
Products (Fire Suppression, Fire Response, Fire Analysis, and Fire Detection), Services (Maintenance Services, Managed Services, Engineering Services, Installation & Design Services, and Others), Applications (Commercial, Industrial, and Residential) |
Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered in the Report |
ENCORE FIRE PROTECTION, Fike Corporation, FIRE SUPPRESSION LIMITED, Hochiki Corporation, Gentex Corporation, Halma PLC, Honeywell International Inc., Johnson Controls International PLC, NAPCO SECURITY TECHNOLOGIES, Raytheon Technologies, Schneider Electric, SCHRACK SECONET AG, Securiton AG, Siemens AG, Victaulic Co., Robert Bosch GmbH, Viking Automatic Sprinkler Company, and Viking Group Inc |
In the terms of products, the fire protection system market can be divided into fire suppression, fire response, fire analysis, and fire detection. The fire analysis segment is projected to hold significant market share. The segment progress can be attributed to the increasing requirement for fire analysis solution, which helps to make proper decisions during fire prevention. Fire analysis normally uses fire modeling & simulation software and fire mapping & analysis software. It is an essential part of a fire protection system, as it facilitates well-versed decision-making, which leads to maximum efficiency.
Based on services, the fire protection system market can be segmented into maintenance services, managed services, engineering services, installation and design services, and others. The installation & design services segment is anticipated to account for a substantial share. The practice of outsourcing the fire protection system design, development, documentation, and installation refers to the practice of outsourcing the fire protection system installation and design services. The services are increasingly preferred due to the subject-matter expertise offered by vendors.
On the basis of applications, the fire protection system market can be segmented into commercial, industrial and residential. The industrial segment is anticipated to expand at a significant pace in the near future. This segment covers major sectors, such as oil & gas, mining, energy & power, and manufacturing. The requirement for solutions to safeguard automated systems from fire accidents is expected to fuel the growth of the segment. Furthermore, in the fire-prone sector, the emphasis is on installing complete proof protection and prevention systems. Thus, such factors are expected to further drive the industrial segment.
In terms of regions, the fire protection system market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market. This segment can be attributed to the high demand for intelligent houses and smart buildings, which deliver optimum safety. Furthermore, North America has a strong presence of key market players, such as Raytheon Technologies Corporation, GENTEX Corp., and Honeywell International, Inc. These companies are actively involved in spreading product awareness via marketing programs.
Key players in the fire protection system market are ENCORE FIRE PROTECTION, Fike Corporation, FIRE SUPPRESSION LIMITED, Hochiki Corporation, Gentex Corporation, Halma PLC, Honeywell International Inc., Johnson Controls International PLC, NAPCO SECURITY TECHNOLOGIES, Raytheon Technologies, Schneider Electric, SCHRACK SECONET AG, Securiton AG, Siemens AG, Victaulic Co., Robert Bosch GmbH, Viking Automatic Sprinkler Company, and Viking Group Inc. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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