The global Fire Protection Systems market size is expected to be worth around US$ 155.05 billion by 2028, according to a new report by Vision Research Reports.
The global Fire Protection Systems market size was valued at US$ 91.7 billion in 2020 and is anticipated to grow at a CAGR of 7.7% during forecast period 2021 to 2028.
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.
Growth Factors
The fire protection systems are one of the essential systems required to be installed in any building. The systems are used for detecting, controlling, and safeguarding the consumers from potential fire destruction. These systems help to extinguish smoke or fire and alert the occupants of a building, thereby reducing the loss of properties and the risk of casualties. They include equipment such as fire suppression systems, detectors, response systems, analysis software, and sprinkler systems. The systems are installed in various establishments and infrastructures, include residential buildings, commercial buildings, and industrial buildings, to safeguard them from unforeseeable fire hazards.
the adoption in various developing countries was low as compared to the developed nation owing to the lack of awareness among consumers. However, the conscious efforts from various systems manufacturers, dealers, and integrators have enabled in creating a widespread awareness among end-users. Launching numerous fire safety programs and explaining the benefits of a has drawn the attention of Small and Medium Enterprises (SMEs) as well as large enterprise. This has paved the path for the market to grow steadily over the past few years.
The market is strongly driven by the standards and codes imposed by the various regulatory authorities. The use of high-cost advanced electronics systems has further increased the need to comply with fire safety standards. Thus, growing stringency has enforced the various organizations to install fire protection systems. Hence, the market is expected to grow significantly over the forecast period.
Report Highlights
The fire detection product segment led the market and accounted for more than 40.05% share of the global revenue in 2020. These systems comprise several devices working collectively to detect and warn people through audio and video appliances during an incident involving fire, smoke, carbon monoxide, or other emergencies. Legislative requirements from different countries, including the Building Code of Australia, and the National Fire Protection Association USA, have mandated the installation of fire detection devices hence bolstering the demand for these devices.
Fire suppression systems are used for the reduction of heat release of a fire and the deterrence of its re-growth by means of sufficient and direct application of foam water or water mist, or other materials such as dry chemical powder, Carbon Dioxide (CO2) clean agent through the fire plume to the burning fuel surface. The increasing adoption of environment-friendly agents is expected to trigger the demand for this equipment. The growing pace of construction of commercial units and industrialization is expected to open lucrative growth opportunities for the suppression systems.
Fire protection equipment can work effectively and efficiently if an accurate analysis of events is done. Fire analysis is an integral part of a fire protection system, which facilities well-versed decisions that lead to maximum efficiency. Fire analysis generally uses fire modeling and simulation software, and fire mapping and analysis software. The fire analysis segment is likely to expand at the highest CAGR of 9.12% from 2020 to 2027. This is owing to the growing need for fire analysis, which helps in proper decision-making and fire prevention.
The installation and design service segment led the market and accounted for more than 40.02% share of the global revenue in 2019. Installation and design services of the fire protection system constitute an integral part of the value chain. It is mandatory for installers to use standard solutions and purchase ready-to-use equipment sets directly from producers or distributors.
The maintenance services segment is likely to expand at the highest CAGR of 9.02% from 2020 to 2027. Maintenance services include timely auditing and servicing to make sure that fire protection systems meet all the essential fire safety standards and function correctly in an emergency. The demand for these services is often driven by new building construction activities, modernization activities, and demand for system upgrades. Activities involved in the upgrading process include advancements in system technology and codes & standard changes.
Maintenance services such as monitoring, repair of components, testing, servicing, and inspection. The services contain regular preventative maintenance, system testing and commissioning, and equipment supply. Additionally, the replacement of aging systems owing to the increased enforcement of fire safety system testing standards and the consecutive rise in the discovery of failed components is likely to result in the increased demand for upgrades.
The commercial application segment led the market and accounted for more than 45.02% share of the global revenue in 2020. The demand in commercial applications across facilities such as hospitals, educational institutions, and government offices is rising owing to the formulation of stringent fire prevention and control norms by government across the globe. Increasing investment of companies for reducing the loss of property and life and safeguarding the infrastructure across several applications is also estimated to further propel the demand in the commercial sector. Furthermore, reduction in prices has triggered the wide-spread adoption of these devices across residential applications.
However, the industrial application segment is expected to expand at the highest CAGR of 8.9% from 2020 to 2027. The need to safeguard expensive automated systems from accidents is expected to drive the industrial application. The fire-prone sectors, including oil and gas, manufacturing, energy & power, emphasize on the installation of full proof protection and prevention systems, further driving demand across the industrial sector.
The growth of the residential sector can be attributed to the growing installations of fire protection systems in retrofit applications owing to the ease involved in installing these systems, the cost-effectiveness of the solutions, and the reduction in the time required for system installation. Retrofit deployments are primarily driven by changes in existing laws and codes that may have been pointed out during an inspection.
Hence, the need to upgrade as per the rules of insurance carriers and remodeling of a residential building to the latest systems is expected to drive the market for retrofit application. However, in existing residential infrastructures and buildings, rewiring the entire building can be extensive. Thus, fire safety equipment integrated with RF or infrared technologies is preferred over conventional wired systems.
North America dominated the market and accounted for over 35.05% share of global revenue in 2020. The increasing demand for smart buildings and intelligent houses which deliver optimum safety and security is expected to drive the North American market.
Key Players
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GENTEX CORPORATION
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Siemens
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Robert Bosch GmbH
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Halma plc
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Eaton
Market Segmentation
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Product Outlook
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Fire Detection
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Fire Suppression
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Fire Response
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Fire Analysis
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Fire Sprinkler System
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Service Outlook
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Managed Services
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Installation and Design Services
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Maintenance Services
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Others
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Application Outlook
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Commercial
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Industrial
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Residential
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Regional Outlook
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North America
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The U.S.
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Canada
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Europe
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The U.K.
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Germany
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Asia Pacific
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China
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Japan
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India
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Latin America
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Brazil
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Mexico
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Middle East & Africa
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