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Fire Protection System Market Reaching A Value Worth $155.03 Billion By 2027 | Grand View Research, Inc

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Fire Protection System Market Reaching A Value Worth $155.03 Billion By 2027 | Grand View Research, Inc

August 01
12:42 2020
Fire Protection System Market Reaching A Value Worth $155.03 Billion By 2027 | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,the global fire protection systems market size was valued at USD 91.5 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2020 to 2027.

The global fire protection systems market size is expected to reach USD 155.03 billion by 2027, according to a study conducted by Grand View Research, Inc. A fire can ignite in an instant and spread within seconds, due to this fire safety becomes an integral part of businesses for the financial and employee’s safety of the business. In order to detect a fire, protect the building, its inhabitants, and valuables, fire protection systems are developed. Fire protection system involves installation and use of safety devices such as fire alarms, sprinklers, smoke detectors, and other fire-protection equipment that operates during the fire emergency. If a fire sparks, smoke sets off the detector which activates the sprinkler device. The water offers protection against fire spreading.

Some of the major reasons for the growth of the fire protection systems industry include strict government regulations, increasing technological advancements, financial loss, and increasing deaths due to fire accidents, and efforts from various system manufacturers in creating widespread awareness among small and medium enterprises as well as large enterprises. The industry’s growth is positively impacted by the strict government guidelines for various enterprises to comply with fire safety standards. In addition, enhancements in technologies such as mist-based extinguishing technology and devices such as laser optical/infrared smoke detectors, alarms with built-in voice evacuation alerts, hypoxic air fire suppression systems and wireless fire alarm systems are giving a push to the industry growth.

With the increasing trend of smart building automation systems, several manufacturers are integrating fire safety and detection systems with these automation systems, allowing the development of systems capable of exchanging and collecting data that can help alert individuals to fire safety problems on the premises.

The fire protection systems market can be segmented on the basis of product, service, application. The product segment comprises several systems that include fire detection, fire suppression, fire response, fire analysis, fire sprinkler system. These systems work in tandem to detect and warn people in the case of fire, smoke, carbon monoxide, other emergencies via various sources such as audio or video mode. Fire suppression systems are used through adequate and direct application of foam water or water mist to minimize heat release of a fire and prevent its re-growth. Analysis of fire is an integral part of a fire protection system which provides well-versed decisions leading to maximum performance. Fire analysis uses software typically for fire modeling and simulation, and fire mapping and analysis.

An essential part of the fire protection system industry is the installation and design services segment. Using standard and ready-to-use equipment systems directly from manufacturers or retailers is essential for the installers. Demand in the commercial applications segment across facilities such as hospitals, educational institutions, and government offices is growing due to the government’s stringent fire prevention and control norms. Rising investment of enterprises to reduce property and life loss and to safeguard the infrastructure across multiple applications is the reason why this segment accounted for more than 45.0% of global revenue in 2019.

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U.S. fire protection systems market size, by product, 2016 - 2027 (USD Billion)

Key Takeaways from the report:

  • Creams held the largest revenue share of over 35.0% in 2018, with overnight moisturizers, under-eye creams, and under-eye primers emerging as the most popular products in this category
  • Asia Pacific is expected to exhibit the highest CAGR 5.2% from 2019 to 2025 as a result of growing consumer awareness and purchasing power in developing economies like China and India
  • North America dominated the anti-fatigue cosmetics market in 2018, accounting for 37.3% of the global revenue. This can be attributed to increased prevalence of skin fatigue among consumers in U.S. and Canada
  • The online distribution channel is projected to expand at the fastest CAGR of 5.4% over the forecast period owing to a thriving e-commerce industry and growing consumer preference for purchasing cosmetics and personal care products online
  • Key players include L’Oréal S.A.; Unilever; Shiseido Company, Limited; The Estée Lauder Companies Inc.; Bio Veda Action Research Co. (Biotique); Christian Dior SE; Nuxe, Inc.; Mesoestetic; Groupe Clarins SA; and The Ordinary.

Global fire protection systems market share, by application, 2019 (%)

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Recent Trends and Developments:

  • In May 2019, Siemens launched Cerberus Portal, an online fire safety cloud-based platform for monitoring the fire systems. The cloud base portal can be accessed via PC, laptop, and tablet to access the control panel of the system remotely. 
  • In May 2019, Kidde launched a new smoke alarm utilizing its TruSense sensor designed to reduce common cooking nuisance alarms and responding faster to different types of fire. Kidde is a part of Carrier, a leading global provider of innovative HVAC, refrigeration, fire, security, and building automation technologies. Using TruSense sensors, the Kidde alarms can differentiate between dangerous fast-flaming or smoldering fires and some of the more common home nuisance alarms. 
  • In January 2020, Halma acquired 70% of FireMate Software Pty. Ltd., an Australian company based in Brisbane which provides cloud-based fire protection maintenance software to fire contractors. According to Halma, FireMate’s software solutions are highly complementary to those currently offered by our Infrastructure Safety sector’s fire businesses and further strengthens our capabilities in connected and integrated fire systems internationally.

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Grand View Research has segmented the global fire protection system market based on product, service, application, and region:

Fire Protection System Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Fire Detection
  • Fire Suppression
  • Fire Response
  • Fire Analysis
  • Fire Sprinkler System

Fire Protection System Service Outlook (Revenue, USD Million, 2016 – 2027)

  • Managed Services
  • Installation and Design Services
  • Maintenance Services
  • Others

Fire Protection System Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Commercial
  • Industrial
  • Residential

Fire Protection System Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

List of Key Players in Fire Protection System Market

  • Siemens
  • Robert Bosch GmbH
  • Halma plc
  • Eaton

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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