Status : Published | Published On : Jan, 2024 | Report Code : VRSME9113 | Industry : Semiconductor & Electronics | Available Format : | Page : 250 |
The Global Fire Protection System Market is expected to experience significant growth over the forecast period from 2025 to 2030. With an anticipated compound annual growth rate (CAGR) of 6.5%, the market size is projected to increase from USD 65.1 billion in 2023 to USD 88.4 billion by 2030.
A fire protection system is a certified product that has been built to meet the requirements set by government authorities and regulatory agencies in order to prevent fires. Some of the most commonly used fire protection systems are alarm valves, suppression systems, analysis software, and sprinkler systems. These technologies are designed to detect and react to fire smoke or flame. In comparison to the traditional heat or smoke devices employed in the past, the introduction of fire protection systems has aided in responding swiftly and accurately to fire. Furthermore, when implemented in commercial buildings, fire sensors and detectors serve as excellent and cost-effective safety measures.
The COVID-19 pandemic has had an adverse impact on the market development of the fire protection systems market owing to strict lockdown measures in several countries and interruption in the production and manufacturing of fire suppression products like fire extinguishers, and fire sprinklers, etc.
Market Segmentation
Insight by Product
Based on product, the global fire protection system industry is segmented into fire suppression, fire response, fire sprinkler system, fire analysis, and fire detection. The fire suppression is further divided into chemical, water, gaseous, and foam. Fire response is sub-divided into emergency lighting systems, voice evacuation and public alert systems, secure communication systems, and fire alarm devices. The fire sprinkler system is sub-divided into the wet, dry, pre-action, deluge, and other fire sprinkler systems. The fire analysis is subdivided into fire mapping and analysis software and fire modeling and simulation software. Fire detection is further segmented into flame detectors, smoke detectors, and heat detectors. The flame detector is sub-divided into single IR (infrared), single ultraviolet (UV), dual UV/IR, triple IR (IR3), and multi IR. The smoke detector is sub-divided into photoelectric, ionization, and dual-sensor smoke detectors. Fire suppression contributes to the largest market share in the fire protection system market as it aids in preventing the spread of fire and putting it off. The growth of the fire suppression segment is due to the technological development and innovation in the construction industry, the rising number of regulations and policies mandated by the government, and mounting damage to human life and property as a result of fire hazards.
Insight by Service
Based on service, the global fire protection system market is segregated into maintenance services, managed services, engineering services, installation and design services, and other services. The maintenance services are anticipated to have a high CAGR during the projected period Fire protection equipment requires maintenance services that are audited and serviced on a regular basis to ensure that it meets all of the necessary fire safety requirements in the event of an emergency. Inspection, testing, servicing, and repair of parts, as well as monitoring of fire protection systems and their components, are all included in maintenance services.
Insight by Vertical
Based on vertical, the global fire protection system industry includes Residential, Commercial, and Industrial. The commercial includes Retail, Healthcare, Hospitality, BFSI, Academia and Institutional, and Others. The industrial segment includes Manufacturing, Energy & Power, Oil, Gas and Mining, and Others. The commercial contributes the largest share in the market owing to strict regulations for fire protection and control globally. The need for fire protection systems is predicted to rise as firms increase their spending to reduce property and life damage and protect infrastructure.
The industrial segment is anticipated to have a high CAGR during the forecast period owing to the rising demand to safeguard automated systems from fire accidents. Additionally, in the fire-prone sector, the focus is on putting in place complete fire-proof protection and prevention measures in industries, as well as strict government regulations. The industrial segment is projected to benefit from this.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 65.1 Billion |
Revenue Forecast in 2030 |
U.S.D. 88.4 Billion |
Growth Rate |
6.5% |
Segments Covered in the Report |
By Product, By Service, and By Vertical |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The advancement in smart sensors, increased adoption of IoT in automation industries, the advent of big data, and the development of wireless technology are the key trends in the fire detection system market.
Growth Drivers
The market growth of the fire protection system market is driven by various factors that are highly beneficial for its expansion. These factors include robust urbanization and industrialization, significant advancements in the construction industry, strict regulatory measures, increasing risk of property damage and public safety concerns due to fire accidents, and the growing utilization of wireless technology in fire detection systems. Additionally, the rapid development of smart cities and smart buildings further contribute to the market growth. Another key driver is the rising demand for replacing traditional wired systems, along with an increasing need for fire protection systems that integrate surveillance and fire detection features. These factors collectively stimulate the demand for fire protection systems and propel the market forward.
Moreover, the fire protection systems market is greatly influenced by the oil and gas sector, as well as the mining industry, due to their handling of highly flammable substances like petroleum and crude oil. The booming growth of the oil and gas industry, along with the mining industry, plays a crucial role in driving the demand for fire protection systems on a large scale.
Challenges
The increased initial cost, high cost to upgrade conventional fire detectors to smart detectors, predictive maintenance, rising concern about false alarms and detection failure, and fluctuating raw material prices may impede the growth of the fire protection industry. Also, the integration of user interfaces with fire protection solutions may pose challenges in the growth of the fire protection system industry. Furthermore, to mitigate the effects of COVID 19, countries around the world have implemented a lockdown, restricting people's movement and reducing the manufacturing of new fire protection equipment and supplies. The market has suffered as a result of this. Furthermore, many companies and suppliers in the fire protection systems business rely on components from foreign nations. Because of the government's limitations on mobility, all logistics operations around the world have come to a halt, causing supply chain issues.
Opportunities
The increased adoption of water mist systems, frequent review of regulatory compliances, and integration of smoke detectors with IoT and big data are projected to open up a slew of new prospects for the fire protection system market over the forecasted period.
Geographic Overview
North America dominates the fire protection system market outlook owing to development in fire protection systems, rising infrastructure investments, and increased implementation of strict fire safety regulations to deploy fire protection system in the region will propel the growth in the market. Furthermore, the increased adoption of fire protection systems in commercial buildings and rising concerns about fire safety and security will proliferate the growth of the fire protection systems market In the U.S.
The Asia Pacific is anticipated to grow at a fast pace in the fire protection system industry owing to the increased number of exploration activities, rising presence of industrial and commercial organizations, increased awareness among end-users, and boom in the construction sector post-COVID-19 crisis in countries like China and India will fuel the growth in the region.
Competitive Insight
There is stiff competition among the industry players as the market is fragmented. The increased consumer awareness and mounting investments by the industry players for development activities will lead to market growth in the fire protection system market. The fire protection systems market's players place a strong emphasis on research and development. These actions assist the players in developing unique formulations and enhancements that benefit from capturing customer attention. These activities allow the industry participants to add new features and improvements, which helps to increase revenue. Mergers, acquisitions, product development, geographical expansion, and collaborations are all important strategies adopted by the key players in the fire protection systems market's growth.
Carrier Fire & Security business offers an extensive range of residential, industrial, and commercial systems and includes fire and carbon monoxide detection, alarm signaling, incident management, evacuation, monitoring; fire and gas safety solutions; fire, gas, and water mist suppression, and industrial equipment controls. Access control and event monitoring, electronic locks, hospitality solutions, mobile apps and credentialing, real estate access solutions, remote access management, video management, and video analytics are all available through the Carrier security division.
Hochiki Europe's HFP System is a highly adaptable, comprehensive life safety system that provides a simple yet reliable solution for all fire detection needs. Hochiki has a range of devices for specialized circumstances, including aspirating (high sensitivity), voice evacuation, and hybrid wireless capabilities, in addition to Intelligent (analogue addressable) and Conventional systems for commercial and industrial applications. Hochiki can provide industrial, explosion-proof, SIL2 rated, and maritime devices that have been built specifically for these difficult applications. The HFP system includes a trustworthy protocol, dependable devices, and user-friendly panels, all of which work together to provide a full solution for any fire detection need.
In March 2022, Hochiki was chosen to deliver the new life safety system and gadgets to the food production site in Sommacampagna, Italy, which needed to modernize its fire detection system.
In April 2021, Siemens Smart Infrastructure has expanded its portfolio for small and medium-sized buildings with the launch of Cerberus FIT, a new version of the fire protection system. A simple and cost-effective solution may now be used to cover a variety of small to medium-sized buildings. Cerberus FIT improves fire safety by increasing functionality and productivity for individuals responsible to protect buildings. The technician can install, commission, and maintain the system quickly, easily, and reliably owing to the intuitive interface and auto-configuration tool.
Some of the industry players operating in the fire protection system industry include Johnson Controls, Carrier, Honeywell International, Siemens, Halma, Bosch Sicherheitssysteme GmbH, Hochiki Europe, LLC, GENTEX CORPORATION, Minimax Viking, and Securiton.
The Fire Protection System Market research includes a comprehensive market segmentation analysis as well as projections for the analysis period 2025-2030.
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