With a market value of US$ 83.76 billion in 2022 and projected to reach US$ 190.26 billion by 2032, the global fire protection system market is expected to grow at a notable compound annual growth rate (CAGR) of 8.6% between 2023 and 2032.
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"The Global Fire Protection Systems Market 2022-2032 (USD Billion)")
Increased infrastructural development, increased need for better ways of fire protection are some of the reasons due to which the Fire Protection Systems Market is growing at a rapid pace.
Covid-19 Impact & Market Status
The advent of Covid 19 has had a huge impact on the lives of many people. It has forced business to shut down due to cut in supply chains, distribution channels were destroyed. Many manufacturing facilities were shut and hence the Fire Protection Systems market experienced a shock and the demand decreased drastically. After the covid outbreak demand increased as more fire protection systems were now needed for the monitoring and inspection of houses and industries.
This Fire Protection Systems Market report explores the current market, regulatory aspects, and potential opportunities, and challenges in individual market segments. The report also gives a detailed outlook of the competitive landscape.
The Fire Detection Segment is the Most Lucrative Segment
Based on type, the Fire Protection Systems Market is divided into 4 segments – Fire Detection, Fire Response, Fire Suppression, and Fire Analysis. Among these, the Fire Detection segment registered the maximum market share in 2020 and is projected to remain at top throughout the forecast period. This is because of the wide number of benefits these provide like providing detection of fire via video and audio modes in an incident of smoke etc. This is the reason because of which the Fire Detection segment is the most lucrative in the type segment of Fire Protection Systems Market.
Active Fire Protection to have large market share
By type, the Fire Protection Systems market was led by the Active Fire Protection segment in 2020, and is projected to maintain its dominance during the forecast period. This is because of the high alert benefit that these systems provide in case of a fire outbreak.
Industrial Segment to Remain Atop
By End User, the Fire Protection Systems market was led by the Industrial Segment in 2020, and is projected to maintain its dominance during the forecast period. This is because of the rise in demand due to increased need to protect automated machines in case of fire outbreaks.
Additionally, the new government regulation to develop fire proof buildings is another reason due to which the industrial segment is gaining importance.
North American Region to Render Ample Investment Avenues
North America is the largest contributor to the growth of global Fire Protection Systems Market. This is because there is huge need of advanced technology for homes which delivers best in class safety. The US has the world’s largest Fire Protection System companies which heavily advertise to increase awareness and hence it has the biggest market.
The Asia Pacific region is also expected to have a great CAGR owing to the huge population and increasing technological advancements in that region.
The increasing need for better management of fire due to increasing industrialization are few more reasons which are driving this market.
Fire Protection Systems are certified products which are government regulated which help in fire protection and fire outbreaks. It is used to protect, detect and safeguard the inhabitants from possible fire outbreaks by alerting the occupants. Advanced way of building and increased government regulations along with increasing demand for surveillance and accurate inspection devices is responsible for the growth of Fire Protection Systems Market.
Fire Protection Systems include and help immensely in the process of inspection, mitigation and removal of fire during such times. Fire Detection, Fire Response, Fire Suppression, and Fire Analysis are some of the types of Fire Protection Systems that help in different ways. They are being adopted largely because of the benefits they provide and the fulfilment of needed safety measures. It also helps in reducing manpower and saving lives of many people due to its ability to detect fire and inform the occupants. These factors collectively influence the global Fire Protection Systems market, ensuring an overall market size of 78.5 billion by 2028 with an annual growth rate of 7% through the forecast span.
The rise in the adoption of technology and growth in awareness regarding safety measures among corporate to improve overall safety is one of the reasons due to which this market is gaining importance. The unique feature of this system is that it results in maximized efficiency, minimized manpower, better protection and decreased costs. Additionally, the rising number of industries in the world is likely to drive the growth of this market because of the need to protect and increase safety.
Improvements in AI technology can play an important role in a complete plan to make the systems better so that the inspection and safety becomes much better. Additionally, improved results with decreased costs are expected to drive the market growth.
However, supply chain disruptions as well as increased competition from other segments like cooking fire safety, electrical fire safety are some of the reasons hampering the market growth. Nevertheless, Fire Protection Systems Market has the growth prospects, because of the increasing need of highly efficient systems to reduce complexities.
The major players of this market are Gentex Corporation, Halma Plc., Hochiki Corporation, Honeywell International Inc., Johnson Controls International Plc., Minimax Viking GmbH, Robert Bosch GmbH, Securiton AG, Siemens AG, Raytheon Technologies. Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Fire Protection Systems market. By applying technology, the R&D teams of the companies must try to mitigate the risks associated with security concerns. The Graphic User Interface i.e., ease of use, size of the software and useful features will prove to be essential factors determining the dominant player in the market.
Fire Protection Systems Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 190.26 billion |
| Growth Rate | CAGR of 8.6 % during 2023-2032 |
| Segment Covered | product, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Siemens, Robert Bosch, Honeywell, Fireline, Schrack Seconet, Hochiki, Halma, and Securiton, among others |
Key Segments of the Fire Protection Systems Market
Fire Protection Systems Market on the basis of Product Type,
- Fire Detection
- Fire Response
- Fire Suppression
- Fire Analysis
Type Overview, (USD Million)
- Active Fire Protection System
- Passive Fire Protection System
End User Overview, (USD Million)
- Commercial
- Industrial
- Governmental
- Institutional
- Others
Regional Overview, (USD Million)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The market value of fire protection systems market in 2032 was US$ 190.26 billion
The fire protection systems market is growing at a CAGR of 8.6% over the forecast period.
The base year for the report is 2023 in fire protection systems market.
North America dominated the market for fire protection systems and accounted for the largest revenue share.
The top companies that hold the market share in fire protection systems market are Gentex Corporation, Halma Plc., Hochiki Corporation, Honeywell International Inc., Johnson Controls International Plc., Minimax Viking GmbH, Robert Bosch GmbH, Securiton AG, Siemens AG, Raytheon Technologies.