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Fire Protection System Market : Global Demand Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Fire Protection System Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Fire protection systems Overview:

Fire protection systems assists in controlling and putting-off fire, preventing destruction of property and people. These systems work by reducing oxygen content of fire affected area and promote supply of nitrogen in that area to build a "fire safe" zone.

Market Size and Forecast

The global fire protection system market is anticipated to expand from USD 48.06 Billion in 2015 to USD 98.11 Billion by 2021, registering a compound annual growth (CAGR) of 10.09% over the period of 2015-2021. In recent years, North America led the market in global fire protection system and the market is further estimated to grow at a healthy rate owing to stringent government regulation and high demand from industrial sector in this region.

The European fire protection system market was valued at USD 9.12 Billion in the year 2015 and it will grow at 14.4% annually to reach USD 20.2 Billion by the end of the year 2021. The Europe fire protection system market accounted 28.52% of the global fire protection system market in the year 2015.

In 2015, the Asia-Pacific fire protection system market was valued at USD 8.93 Billion and is growing at 21.4% annually to reach USD 22.78 Billion by 2021.The Asia-Pacific fire protection system market contributes 22.21% of the global fire protection system market and it is projected that it will reach 32.15% by 2021. CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

By Technology

On the basis of technology, Global fire protection system market is segment into:

  • Active Fire Protection Systems
  • Passive Fire Protection Systems

By Product

On the basis of product, Global fire protection system market can be divided into:

  • Fire Management Systems
  • Fire Response Systemss
  • Fire Detection Systems
  • Fire Analysis Software
  • Other

By Service

Based on service, Global fire protection system market can be segregated as:

  • Engineering Services
  • Managed Services
  • Installation & Design Services
  • Maintenance Services
  • Other Services

By Vertical

On the basis of application, Global fire protection system market is segment as follows:

  • Oil, Gas, & Mining
  • Energy & Power
  • Transportation & Logistics
  • Residential
  • Commercial
  • Government
  • Manufacturing
  • Other Verticals

By Region

On the basis of region, Global fire protection system market is segment as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and challenges

Augmentation in expenditure by enterprises for fire protection, stringent government policies and regulations, political pressure to condense the losses from fire and rise in fire threats are the major growth drivers for the global fire protection system market over the forecasted period i.e. 2015-2021. High maintenance cost of fire protection systems and special skills required to manage the fire protection system are some factors which restraints the growth of global fire protection system in the upcoming years.

Key Players

The key players of the global fortified food market are as follows:

  • Blaze Manufacturing Solutions Ltd.
  • Consilium AB Publ.
  • Deluge Offshore & Marine Pte Ltd.
  • Drägerwerk AG & Co. KGaA
  • Emerson Electric Co.
  • Bosch Security Systems
  • Tyco International

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