Authored By: Sarah
11 Jul 2024

 Fire Protection System Market Size to grow by USD 14406.41 million between 2023-2027

According to a research report “ Fire Protection System Market” by Product (Fire detection, Fire suppression, Fire response, Fire analysis) Application (Commercial, Industrial, Residential) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 14406.41 million, at a CAGR of  7.07% during the forecast period. In the realm of fire protection systems, the latest innovation lies in IoT-enabled smart smoke detectors. These advanced solutions enable users to prevent false alarms through remote control via IoT-enabled devices, ensuring heightened security. Risk monitoring and instant action are key benefits, with IoT integration also facilitating battery replacement notifications. The adoption of these systems is further propelled by their compatibility with smartphones. Amidst growing prioritization of safety in both residential and commercial sectors, the demand for smoke and fire detection systems, including photoelectric and ionization models, is poised to surge.

Browse market data tables, figures, and in-depth TOC on “Fire Protection System Market” by Product (Fire detection, Fire suppression, Fire response, Fire analysis) Application (Commercial, Industrial, Residential) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2027. Download Free Sample

 

By Product, the Fire detection segment is projected to dominate the market size in 2024

In the commercial sector, structures such as office buildings, malls, airports, warehouses, hotels, motels, railway stations, metro stations, and supermarkets represent significant investments and revenue generators. The increasing demand for advanced fire protection systems in these establishments is driven by rising investments in commercial real estate, particularly in office spaces and airports. Compliance with fire safety regulations is a legal requirement for commercial buildings, which house valuable workforces, assets, and products. To ensure business continuity and minimize potential losses, these structures are increasingly adopting sophisticated fire protection technologies, including sensors, integrated management systems, and touchscreen interfaces, for enhanced safety and operational efficiency.

By Application, Commercial  segment is expected to hold the largest market size for the year 2024

In the global fire protection system market, the segment for fire detection products held a significant market share in 2022. Fire detection systems consist of essential components, including smoke detectors, alarms, water sprinklers, alarm-initiating device circuits, and fire suppression and extinguishment systems. These elements collaborate to detect and alert individuals through audio and visual equipment such as speakers and alarms when incidents involving smoke, carbon monoxide, or fire occur. Regulatory bodies, such as the National Fire Protection Association in the US and the Building Code of Australia, mandate the installation of fire detection systems. Additionally, the implementation of these systems in public spaces like malls, hospitals, stadiums, and other public gatherings worldwide is driving demand for the fire detection segment and the overall fire protection system market during the forecast period.

North America is forecasted to hold the largest market size by region in 2024

In the global fire protection system market, North America held the largest market share in 2022, driven by the significant demand for intelligent homes and smart buildings, which prioritize safety. This region's dominance can also be attributed to the presence of prominent market players, including Raytheon Technologies Corporation, Gentex Corp., and Honeywell International, Inc. These companies have actively promoted their fire protection solutions, increasing market awareness and driving growth. Strategic initiatives and measures are also being adopted by market players to capitalize on opportunities in the emerging markets of APAC.

The Fire Protection System Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ABB
  • API Group Corp.
  • Carrier Global Corp.
  • Eaton Corp. Plc
  • Encore Fire Protection
  • Fire Suppression Ltd.
  • Fireline Corp.
  • Firetrol Protection Systems Inc.
  • Gentex Corp.
  • Halma Plc
  • Hochiki America Corp.
  • Honeywell International Inc.
  • Johnson Controls International Plc.
  • Minimax GmbH and Co. KG
  • Napco Security Technologies Inc.
  • Raytheon Technologies Corp.
  • Robert Bosch GmbH
  • Securitas AB
  • Securiton AG
  • Siemens AG
.

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Research Analysis Overview

The Fire Protection System Market encompasses a range of technologies and services designed to ensure fire safety in various industries and sectors. These include fire safety procedures, energy-efficient fire suppression systems, fire alarm systems, and wireless sensor networks. Fire sprinkler contractors play a crucial role in installing automatic sprinkler systems, while stairwell-pressurization systems and ventilation systems help manage smoke during fires. Fire hydrant systems and fire hose reels are essential for firefighting efforts. Fire suppression systems, such as those using clean agents or foam, offer effective fire protection for sensitive areas. Policies and regulations mandate the installation of these systems in educational institutions, hospitals, and other critical infrastructure. Facility management companies oversee the maintenance of these systems, ensuring their optimal performance. Construction equipment and retrofit infrastructure projects require careful planning and execution to minimize supply chain disruptions and ensure fire safety compliance. Tenants and federal custodians also have a role to play in adhering to fire safety procedures and reporting any issues to the relevant authorities. Energy efficiency is a growing concern in fire protection systems, with many new technologies focusing on reducing energy consumption while maintaining optimal fire safety.

Market Research Overview

The Fire Protection Systems market encompasses various technologies and services designed to prevent, detect, and suppress fires in various industries, including Oil & Gas, Energy and Power, and Construction activities. Key technologies in this market include Water Mist Technology, Deluge Fire Sprinklers, Pre-action Fire Sprinklers, Dry-pipe Fire Sprinklers, Wet-pipe Fire Sprinklers, Flame Detectors, RFID Systems, Heat Detectors, and Smoke Detectors. Fire Safety Systems consist of Fire Detection, Fire Response, and Fire Suppression systems. Fire codes and safety procedures are crucial in ensuring the effective implementation of these systems. Energy efficiency is a growing concern, leading to the adoption of advanced technologies like Wireless Alarm Systems, Wireless Sensor Networks, and Managed Services. Major sectors utilizing Fire Protection Systems include Educational Institutions, Hospitals, and Residential Buildings. Regulatory updates and safety concerns necessitate the need for Fire Alarm Systems, Fire Safety Norms, and Fire Extinguishers. Fire Sprinkler Systems, including Fire Hydrant Systems and Fire Hose Reels, are essential components. Fire Protection Systems Market players include Carrier, BakerRisk, and various Fire Sprinkler Contractors. Retrofitting and the integration of technologies like Stairwell-pressurization systems, Ventilation systems, Smoke Management, and Automatic Sprinkler Systems are crucial in enhancing fire safety. Policies and regulations, labor programs, and the role of Responsible Persons (RPs) are essential in implementing effective Fire Safety Orders and ensuring the safety of tenants and federal custodians.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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