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Fire Protection System Market Segmentation by Product (Fire Detection, Fire Suspension, Fire Analysis, Fire Response, and Others); by Technology (Active Fire Safety Systems and Passive Fire Safety Systems); by Application (Commercial, Industrial, and Residential) – Global Demand Analysis & Opportunity Outlook 2029

Buy Now Report ID: 50 | Published Date: Feb 14, 2023

Market Segmentation    

Our in-depth analysis of the fire protection system market includes the following segments:

By Product

  • Fire Detection
  • Fire Suspension
  • Fire Analysis
  • Fire Response
  • Others

By Technology

  • Active Fire Safety Systems
  • Passive Fire Safety Systems

By Application

  • Commercial
  • Industrial
  • Residential

Growth Drivers

  • Rising Governmental Concerns to Prevent Fire Hazards 
  • Growing Number of Construction Activities

Challenges

  • High Cost of Installation and Maintenance of Fire Protection Systems


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Global-Fire-Protection-System-Market-Growth
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Global Fire Protection System Market Regional Synopsis

Geographically, the fire protection system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Asia Pacific region is estimated to witness significant growth over the forecast period credited to the rising number of construction activities and the robust growth of urbanization in the region. Moreover, growing government expenditure for expanding manufacturing factories in countries such as China and India is also assessed to drive the growth of the market. As per our analysis, the industrial output in China rose up to more than 35% in 2021, growing up from approximately 8% since the end of 2020.

As of 2021, North America generates the highest revenue in the market accounting to the strong presence of major market players and growing demand for smart buildings by population. Ongoing technological advancements to develop efficient Bluetooth technologies for fire protection also play a key role in the progress of the market in this region.

Fire-Protection-System-Market-Scope

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The fire protection system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & 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 & Opportunity Analysis


Fire-Protection-System-Market-Scope
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Top Featured Companies Dominating the Market

top-features-companies
    • Honeywell International Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Johnson Controls, Inc.
    • Siemens Aktiengesellschaft
    • Gentex Corporation
    • Raytheon Technologies Corporation
    • Robert Bosch GmbH
    • HOCHIKI Corporation
    • Securiton AG
    • Encore Fire Protection
    • Halma plc

In-the-news

In The News


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Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


Author Credits:  Rushikesh, Richa Gupta


Key Questions Answered in the Report

1) What are the major factors driving the growth of the fire protection system market?

Ans: The major factor driving market growth is rising governmental concerns to prevent fire hazards.

2) What would be the CAGR of fire protection system market over the forecast period?

Ans: The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2021-2029.

3) What are the challenges affecting the fire protection system market growth?

Ans: High installation and maintenance cost of fire protection systems is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of fire protection system market in future?

Ans: Asia Pacific will provide more business opportunities for growth in the future on the back of rapid growth of construction sector.

5) Who are the major players dominating the fire protection system market?

Ans: The major players in the market are Honeywell International Inc., Johnson Controls, Inc., Gentex Corporation, Robert Bosch GmbH and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the fire protection system market?

Ans: The market is segmented by product, technology, application and by region.

8) Which segment captures the largest market size in the application segment in the fire protection system market?

Ans: The commercial segment is anticipated to hold largest market size and is estimated grow at a remarkable CAGR over the forecast period and display significant growth opportunities.

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