Fire Protection Systems Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product Type, Type and End user : Global Opportunity Analysis and Industry Forecast, 2020-2027

Fire Protection Systems Market Outlook - 2027

The Global Fire Protection Systems Market Size was valued at $96,500.0 million in 2019, and is projected to reach $1, 31,274.5 million by 2027, registering a CAGR of 5.2% from 2020 to 2027. Fire protection system is a certified product, developed according to the standards specified by the government authorities and regulatory bodies to control fire outbreaks. This system is equipped with flame detectors and smoke control devices that aid during fire emergency. Alarm valves and sprinkler systems are some of the widely used fire protection systems. These systems have been invented to detect and respond to fire, smoke, or flame. Introduction of fire protection systems has helped in responding quickly and accurately to fire, as compared to the traditional heat or smoke devices used in the past. Furthermore, fire sensors and detectors when installed in commercial buildings serve as ideal and affordable safety measure. 

Implementation of stringent regulations to install fire protection systems in residential and nonresidential buildings globally is expected to fuel the growth of the market. The industrial and commercial areas majorly use fire protection systems for safety of employees. In addition, increase in risk of property damage and public safety concerns due to fire accidents drive growth of the global market. For instance, from 2018 to 2019, the Canada Government spent more than $34 million annually on fire protection services. In Europe, at least 5,000 fire incidents occur each day, hence, fire safety in buildings is a major societal issue. Furthermore, surge in awareness toward fire safety is anticipated to supplement the growth of the market.

In addition, rapid urbanization & industrialization fuels the demand for fire protection systems. As more than four-fifths of the global GDP is produced in cities, urbanization can influence sustainable development if managed properly by increasing productivity, allowing innovation, and implementing novel ideas. Hence, this trend is expected to continue to drive the fire protection systems market growth.

However, high initial costs & predictive maintenance and fluctuation in raw material prices hinder the growth of the market. To suppress the impact of COVID 19, countries around the globe have imposed a lockdown, which led to the restricting the movement of people and reducing in production of new fire protection equipment and products. This factor has negatively affected the market. Moreover, many firms and suppliers in fire protection systems industry depend on other countries for their materials. The restrictions on movement by the government has halted all logistics operations across the globe, thus experiencing difficulties with their supply chain. 

The Global Fire Protection Systems Market is segmented into product type, type, end user, and region 

By Product Type, the market is categorized into fire detection, fire response, fire suppression, and fire analysis.

Depending on Type, the market is segregated into active fire protection systems and passive fire protection systems.

On The Basis of End User, the market is bifurcated into commercial, industrial, governmental, institutional, and others.

Region Wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period due to advancements in fire protection systems and increase in infrastructure investments. Implementation of stringent fire safety regulations on deployment of fire protection systems across North America is expected to drive growth of the market. In addition, rise in commercial construction buildings is anticipated to boost growth of the market. For instance, in 2018, the U.S. Government spent $358.9 billion on commercial construction buildings. Furthermore, rise in concerns about fire safety and security is expected to fuel growth of the fire protection systems market in the U.S.

Competition Analysis

The major players operating in the global market have adopted key strategies such as product launch and acquisition to strengthen their market outreach and sustain the stiff competition in the market.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging fire protection systems market trends and dynamics.  
• In-depth fire protection systems market analysis is conducted by constructing estimations for the key segments between 2019 and 2027. 
• Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
• The global fire protection systems market forecast analysis from 2020 to 2027 is included in the report.
• The key players operating in the fire protection systems market are profiled in this report, and their strategies are analyzed thoroughly, which help understand the competitive outlook of the fire protection systems industry. 

  Fire Protection Systems Market Report Highlights

Aspects	Details
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
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, UK, France, Italy, Rest of Europe) Asia-Pacific  (China, India, Japan, South Korea, Rest of Asia-Pacific) LAMEA  (Latin America, Middle East, Africa)
Key Market Players	Halma Plc, Honeywell International Inc, Siemens AG, Minimax Viking GmbH, Raytheon Technologies, Hochiki Corporation, Johnson Controls International Plc, Robert Bosch GmbH, Gentex Corporation, Securiton AG

Analyst Review

North America is major adopter of fire protection systems, due to growth of the construction sector and rise in awareness related to the fire protection. Rise in urbanization in the developing countries such as India, China, and Brazil has significantly boosted the growth of the fire protection systems market. Surge in demand for fire protection systems in the oil & gas industry is a key factor contributing toward the growth of the market. Moreover, rise in demand for technologically advanced fire protection systems such as advance detector sensors propels the market to expand in developed regions.

In addition, rise in investments in residential construction around the globe drives the market growth. Asia-Pacific is expected to grow at a highest CAGR during the forecast period, with notable growth in the developing countries such as China and India, which have become a favorable destination for fire protection equipment manufacturers. 

Players operating in the fire protection systems market have adopted merger and acquisition as their key growth strategies to gain a stronger foothold. For instance, in April 2020, U.S.-based Raytheon completed merger with United Technologies to form a new company called Raytheon Technologies. The merger is done to improve the product and service portfolio of fire protection systems in the U.S. Similarly, in January 2020, Collins Aerospace Systems, a subsidiary of Raytheon Technologies acquired Goodrich 44318 aerial firefighting agencies for helicopters services. The acquisition aimed to improve the product portfolio in helicopter and similar equipment. Thus, all these factors together are anticipated to significantly contribute toward the growth of the global fire protection systems market.

 

Author Name(s) : Amar Chinchane | Sonia Mutreja

Related Tags

• Fire Equipment
• Construction Materials

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