Fire Protection System Market Size Will Reach USD 110 Billion By 2030 | APAC region is expected to grow at the highest rate during forecast period
Research Reports
Mar 15, 2023
Fire Protection System Market Insights
According to MRFR analysis, the global Fire Protection System Market is expected to register a CAGR of ~7.1% from 2022 to 2030 and hold a value of over USD 110 billion by 2030.
A fire protection system is a set of devices and equipment designed to detect, control and extinguish fires. These systems can include fire alarms, sprinklers, smoke detectors, and fire suppression systems. The COVID-19 pandemic has had a limited impact on the fire protection system industry as it is considered an essential service. The installation and maintenance of these systems are critical to ensure the safety of buildings and their inhabitants. However, the pandemic has had an impact on the industry differently, as the economic downturn caused by the pandemic has led to a decrease in investment in the industry. Furthermore, the focus of many businesses and organizations during the pandemic has been on ensuring the safety and well-being of employees and customers, rather than on non-essential upgrades or investments in fire protection systems.
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Fire Protection System Market Key Players
Some of the key market players 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
- Napco Security Technologies Inc.
Fire Protection System Market Report Scope:
|
Report Attribute/Metric |
Details |
|
Smart Connected Devices Market Size in 2030 |
USD 110 Billion |
|
Growth rate: |
CAGR of 7.1% from 2022 to 2030 |
|
Forecast Period |
2020-2030 |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Fire Protection System Market Segmentation
The Global Fire Protection System market has been segmented into type, product, and service.
Based on the type, the market has been segmented into Active, Passive.
Based on the product, the market has been segmented into Fire Detection, Fire Sprinklers, Fire Suppression, Fire Analysis, and Fire Response.
Based on the service, the market has been segmented into Managed, Maintenance, Installation & Design.
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Regional Analysis
North America has always been the leading provider when it comes to enhanced fire protection systems, boasting great suppliers and facilities for fire protection systems in buildings. Meanwhile, the Asia-Pacific region has focused its investments on infrastructural development, providing various opportunities for fire system protection companies to expand their business operations in this market.
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