The Global Fire Safety Systems Market size is estimated to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising property & human loss due to fire breakouts, increasing adoption of wireless technology in fire detection, strict regulations, and growth of the construction industry.
Fire safety systems have different efficient equipments that help in the protection of property and lives from fire accidents & hazards. Fire safety systems are used to control, detect, and also extinguish smoke or fire from the place. It helps to alert the building establishments or occupants and also reduces the risk of causalities, property losses, and people.
Fire safety systems include fire suppression sprinklers, mass notification, integrated security systems, fire detectors, fire extinguisher, fire alarm monitoring, and fire hydrant systems. The systems are positioned in establishments and infrastructure including manufacturing units and commercial structures to protect the buildings from fire accidents & hazards.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for fire protection systems is projected to spur the market growth during the forecast period.
- Rapid industrialization and commercialization is major factors fueling the market expansion.
- High maintenance cost of the fire safety systems is anticipated to hinder the market growth in the coming years.
- Lack of awareness among consumers related to product acts as main challenge that can restrict the market expansion.
- R&D investment and technological advancement in fire safety systems is expected to create significant opportunities for the market players.
Scope of the Report
The report on the global fire safety systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Fire Safety Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Technology (Active Fire Safety Systems and Passive Fire Safety Systems), Products (Fire Suppression [Foam, Gas, and Others] and Fire Detector [Alarms and Detectors]), End-users (Industrial, Commercial, Government, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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United Technologies; Siemens; Robert Bosch; Gentex; Encore Fire Protection; Schrack Seconet; VFP Fire Systems; Fireline; Argus Fire Protection Company; Johnson Controls; Honeywell; Halma; Hochiki; Minimax Viking; Securiton; Fire Suppression; and Firetrol Protection Systems
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Market Segment Insights:
Active fire safety systems segment is projected to account for a large market share
Based on technology, the global fire safety systems market is divided into active fire safety systems and passive fire safety systems. The active fire safety systems segment is expected to constitute a key share of the market during the forecast period owing to it prevents the ignition and helps to extinguish the fire at the early stage. However, the passive fire safety systems segment is anticipated to expand at a rapid pace during the forecast period due to it evacuate the fire in its safest way possible.
Fire detector segment is projected to hold a key market share
On the basis of products, the market is segmented into fire suppression and fire detector. The fire suppression segment is further divided into foam, gas, and others. The fire detector segment is further categorized as alarms and detectors. The fire detector segment is expected to represent a key share of the market in the coming years due to regulatory requirements of different organizations and mandate to install fire detection systems for the safety.
Commercial segment is projected to constitute a major market share
In terms of end-users, the global fire safety systems market is segregated into industrial, commercial, government, and others. The commercial segment is expected to account for a key share of the market during the forecast period owing to growing investment by companies and increasing strict rules and regulations by government across the world. However, the industrial segment is anticipated to expand at a rapid pace during the forecast period due to need for safeguard systems from fire accidents.
Asia Pacific is expected to dominate the market
On the basis of regions, the global fire safety systems market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rapid urbanization, rising construction activities, and increasing demand for fire protection systems. On the other hand, the market of North America is expected to exhibit a rapid growth rate in the coming years due to high demand for smart building & intelligent house and growing demand for safety.
Segments
The global fire safety systems market has been segmented on the basis of
Technology
- Active Fire Safety Systems
- Passive Fire Safety Systems
Products
- Fire Suppression
- Fire Detector
End-users
- Industrial
- Commercial
- Government
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- United Technologies
- Siemens
- Robert Bosch
- Gentex
- Encore Fire Protection
- Schrack Seconet
- VFP Fire Systems
- Fireline
- Argus Fire Protection Company
- Johnson Controls
- Honeywell
- Halma
- Hochiki
- Minimax Viking
- Securiton
- Fire Suppression
- Firetrol Protection Systems
Competitive Landscape
Key players competing in the global fire safety systems market include United Technologies; Siemens; Robert Bosch; Gentex; Encore Fire Protection; Schrack Seconet; VFP Fire Systems; Fireline; Argus Fire Protection Company; Johnson Controls; Honeywell; Halma; Hochiki; Minimax Viking; Securiton; Fire Suppression; and Firetrol Protection Systems. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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