Fire Protection System Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

One of the most important systems that must be implemented in every building or organization is a fire protection system. A fire protection system is used to protect people in a building or institution from fire threats by controlling, detecting, and controlling the spread of fire. These systems assist in the extinguishment of smoke or fire and the alerting of building inhabitants, reducing property and life damage. Equipment such as fire detectors, fire response systems, fire analysis software, and fire suppression systems are all part of a fire protection system. These fire protection systems are implemented in a variety of infrastructures, including industrial, residential, and commercial buildings, to protect people and decrease the loss of property due to fire dangers. Additional properties, both residential and non-residential, are likely to provide new prospects for fire alarm and detection system installation. For employee safety, fire protection systems are commonly used in commercial and industrial settings. Furthermore, the market is driven by an increase in the number of property losses owing to fire incidents. Furthermore, regulations, standards, and codes established by various regulatory agencies drive the market for fire prevention systems. Organizations have been compelled to build fire prevention systems as a result of the rising norm. Over the forecast period, these factors are expected to support market growth.

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During the projection period, an increased focus on safety will fuel the rise of FPS (Fire Protection Systems). FPS are particularly beneficial in high-risk environments, such as the oil and gas and chemical industries. These are some of the most safety-conscious end-user businesses for Fire Protection Systems (FPS) equipment. This industry will generate prospective business prospects for FPS (Fire Protection Systems) vendors in the global market due to the high hazards involved in upstream activities. Workers in the oil and gas business are at significant risk for injuries and accidents. Litigation and employee compensation costs are extremely expensive in this industry in the case of an accident. Over the projected period, the rising use of wireless technology in fire detection is expected to have an impact on the growth of the fire protection system market. Stringent restrictions, as well as an increase in the number of people and property lost as a result of fires, are expected to boost the market for fire protection systems. Furthermore, the market's growth is expected to be aided by the construction industry's rapid expansion and increased awareness of asset safety and security.

According to UnivDatos Market Insights (UMI)’ research report “Fire Protection System Market”, the market is expected to witness a CAGR growth of around ~6% during the forecast period 2021-2027F. Global Fire Protection System Market is experiencing significant growth due to the stringent fire safety government regulation along with an increase in the number of deaths and property loss.

Based on product type, the market is segmented into Fire Detection, Fire Response, Fire Suppression, and Fire Analysis. The Fire Detection segment generated revenue of USD X billion in 2020 and is expected to grow at a CAGR X% during the forecasted period. During an incident involving smoke, carbon monoxide, fire, or other situations, a fire detection system consists of numerous devices that work together to detect and alert people via video and audio equipment. Regulatory requirements imposed by various organizations, such as the National Fire Protection Association in the United States and the Building Code Australia, have increased the demand for fire detection systems. Also, Petroleum, crude oil, combustible gases (such as butane), and coal are all part of the oil, gas, and mining sectors. Because these materials are flammable, extremely effective fire detection and prevention systems are necessary for this industry to avert fire mishaps, which further propels segment expansion

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Based on type, the market is segmented into Active Fire Protection Systems and Passive Fire Protection Systems. The Active Fire Protection Systems segment generated revenue of USD X billion in 2020 and is expected to grow at a CAGR X% during the forecasted period. Buildings, equipment, and people are all protected by active and passive fire protection. The difference between passive and active fire protection is that passive fire protection focuses on controlling the fire while active fire protection focuses on extinguishing it. While the systems work independently, both must be operational in order to suppress and extinguish a fire

Based on end-user, the market is segmented into Commercial, Industrial and Residential. The Commercial segment generated revenue of USD X billion in 2020 and is expected to grow at a CAGR X% during the forecasted period. Retail, BFSI, government, healthcare, telecom, and IT educational institutions are all represented in the commercial application segment. Due to the creation of severe regulatory standards for fire prevention and control around the world, the demand for fire protection systems in commercial applications is expanding. Furthermore, rising corporate investments to avoid property and life damage and protect infrastructure are likely to increase demand for fire protection systems

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North America to Grab Lion’s Share

During the projection period, the North America region led the market for Fire Protection systems, whereas Asia-Pacific is expected to grow at a higher CAGR. The Asia Pacific is a booming region, with countries like India, China, and Japan projected to fuel regional demand. Following fire protection industry developments such as automatic fire prevention systems, the Asia Pacific area is expected to see some of the quickest growth. Infrastructural development is a priority in Asia-Pacific, which presents a number of prospects for fire system protection firms. The demand for fire prevention systems is increasing as countries such as China, India, and Japan become more urbanized. The region's growing number of smart cities is pushing the demand for effective fire safety measures. The Chinese government has established building design codes to ensure fire safety. Residential buildings are particularly prone to fire disasters in India. Also, according to the Indian Insurance Companies, fire damages account for the majority of claims. The need for fire prevention systems is projected to increase as a result of this.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Fire Protection System Market include Napco Security Technologies Inc., Halma PLC, Johnson Controls International Plc., Raytheon Technologies Corporation, Robert Bosch GmbH, Honeywell International Inc., Hochiki Corporation, Siemens AG, Gentex Corporation, Eaton Corporation PLC

• In March 2020, Johnson Controls announces a new TYCO portfolio of corrosion solutions for fire sprinkler systems. This family of products gives the fire protection industry a complete Johnson Controls portfolio that can significantly increase the lifespan of dry, preaction, and wet fire sprinkler systems

“Global Fire Protection System Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Product Type (Fire Detection, Fire Response, Fire Suppression, and Fire Analysis)
2. By Type (Active Fire Protection Systems and Passive Fire Protection Systems)
3. By End-User (Commercial, Industrial, and Residential)
4. By Region (North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World)
5. By Company (Napco Security Technologies Inc., Halma PLC, Johnson Controls International Plc., Raytheon Technologies Corporation, Robert Bosch GmbH, Honeywell International Inc., Hochiki Corporation, Siemens AG, Gentex Corporation, Eaton Corporation PLC)

Key questions answered in the study:

1. What are the current and future trends of the Global Fire Protection System industry?
2. How the industry has been evolving in terms of end-user demand and product category?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Fire Protection System industry?
5. What is the customer orientation, purchase behavior, and expectations from the Global Fire Protection System suppliers across various countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 FIRE PROTECTION SYSTEM MARKET COVID-19 IMPACT

6 FIRE PROTECTION SYSTEM MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY PRODUCT TYPE

8 MARKET INSIGHTS BY TYPE

9 MARKET INSIGHTS BY END-USER

10 MARKET INSIGHTS BY REGION

11 FIRE PROTECTION SYSTEM MARKET DYNAMICS

12 FIRE PROTECTION SYSTEM MARKET OPPORTUNITIES

13 FIRE PROTECTION SYSTEM MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER

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