Market Highlights
The fire protection system market spans across North America,
Europe, Asia-Pacific, and Middle East & Africa, South America. The
Global Fire Protection System Market is projected to register a CAGR of 6.7% over
the forecast period.
Fire protection systems are used to detect, control, and
extinguish fire or smoke and alert the occupants of a building or an
establishment about the same, thereby reducing the risk of casualties and loss
of properties. Fire protection systems include equipment such as fire
detectors, fire extinguishers, fire hose reels, fire hydrant systems, and
automatic sprinkler systems. These systems are deployed in several
infrastructures and establishments, such as commercial buildings and
manufacturing units, to protect them from unforeseeable fire hazards.
Governments across the globe have designed specific codes and standards
intended to minimize the possibility and effects of fire and other risks in a
facility. For instance, standard NFPA 3 that standardizes the commissioning of
fire protection and life safety systems and NFPA 4 that standardizes integrated
fire protection and life safety system testing. These initiatives promote the adoption
of fire protection systems across the world.
The key players of global fire protection system market are
Honeywell International Inc., Siemens AG, Johnson Controls PLC, United
Technologies Corporation, Robert Bosch GmbH, Hochiki Corporation, Halma PLC,
Minimax Viking GmbH, Gentex Corporation, Securiton AG, Encore Fire Protection,
Fire Suppression Ltd, and Napco Security Technologies Inc. among others.
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The geographic analysis of the fire protection system market
has been conducted for North America, Europe, Asia-Pacific (APAC), and the rest
of the world (RoW). North America accounted for the largest market share of
33.0% in 2019, with a market value of USD 19,369.7 million; the market is
expected to register a CAGR of 8.8% during the forecast period. Technological
advancements, developed infrastructure, and introduction of innovative
solutions by the key players also drive the demand for fire safety systems in
North America. The US and Canada are the key countries in the region. The US
holds ~32% of the North American fire protection systems market. Favorable
government regulations such as tax incentives to small business enterprises for
installation of sprinklers further drive the fire protection systems market in
the region.
Europe was the second-largest market. Increase in expenditure
by enterprises on fire safety solutions, stringent government policies and
regulations, political pressure to condense the losses from fire, and
incentives by insurance companies on installation of fire protection systems in
buildings are the major drivers for the market. European countries have
mandated the installation of fire safety systems at industrial, residential,
and commercial places. In Asia-Pacific region, China accounted for the largest
market share of 34.92% in 2018, with a market value of USD 5,703.7 million; the
market is expected to register a CAGR of 12.2% during the forecast period.
Also, the demand for fire and safety equipment in India is rising due to
country’s economic growth, rapid industrialization, increase in the number of
commercial buildings.
Global Fire Protection System Market: Segmentation
The global Fire
Protection System Industry has been segmented based on type, product,
service, vertical and region. Based on type the market has been classified as
active fire protection system and passive fire protection system. Based on
product, the market has been segmented into fire detection, fire suppression,
fire sprinkler, fire response and fire analysis. Based on service, the market
has been segmented into managed, maintenance and installation & design.
Based on vertical, the market has been segmented into commercial, residential,
energy & power, manufacturing, transportation & logistics, oil &
gas, government and others.
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