Fire Protection Systems Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product (Detection Systems, Suppression System, Fire Sprinklers, Others), By End Users (Residential, Commercial, Industrial, Healthcare, Oil & Gas, Food And Beverage, Chemical, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Nov 2022
- Report Code : KSI061610073
- Pages : 137
The global fire protection system market is projected to grow at a CAGR of 6.05% during the forecast period, reaching a total market size of US$77.321 billion in 2027 from US$51.270 billion in 2020.
Stringent regulations regarding workers’ safety across different industries are the major driver of the fire protection system market. Fire protection systems are made according to the governments’ specified standards and regulations. The market is driven due to the growing awareness and requirement for fire protection systems to be installed in buildings and factories. There is a high risk of fire in risk-prone industries such as manufacturing, oil & gas, and energy and power which, in turn, is propelling the market growth of the fire protection system. Increasing cases of natural calamity are further contributing to the market growth of the fire protection system.
Strict and mandatory building safety codes are pressurizing building management companies to install a fire protection system. Hence, the rising construction of buildings, both residential and commercial, is positively impacting the market growth of fire protection systems. Increasing investments in smart cities provide a great opportunity to fire protection system manufacturers to expand their market share which will fuel the market growth during the forecast period. Smart cities are most likely to demand automation technologies related to fire protection systems like wireless sensory networks and centralized protection systems connected to LAN/WAN networks.
The global fire protection system market is segmented by product, end-user, and geography. By product, the market is segmented into detection systems and suppression systems. The global fire protection system market is also segmented by end-user as residential, commercial, and industrial. The industrial sector is further segmented into healthcare, oil & gas, food & beverage, chemicals, and others.
Rising demand for suppression systems
The suppression system uses a combination of dry chemicals and wet agents to control and extinguish the fire. The automatic suppression system is the most widely used fire protection system owing to its large-scale use in large commercial buildings like schools, hotels, and hospitals, as it requires low setup costs. The demand for suppression systems is further expected to grow in the forecast period due to the rising construction of smart cities across different regions supported by government mandates to install fire protection systems. The detection system market will also grow at a considerable CAGR during the forecast period as it allows users to respond quickly and take rapid action in case of a fire breakout.
By end-user, the industrial segment holds a significant market share
The industrial segment accounted for the major share of the global fire protection system market in 2019. Growing industries such as oil & gas, chemical, and automotive around the world are significantly spurring the market growth of fire protection systems. The high use of fire protection systems by oil & gas in onshore and offshore facilities, gas plants, refineries, chemical, and petrochemical plants is driving the market for fire protection systems. Growing healthcare infrastructure is bolstering the demand for fire protection systems across this sector to effectively detect, contain, and extinguish fires quickly. The rising construction of office spaces, hotels, and shopping complexes is driving the market growth of fire protection systems across the commercial sector to minimize the risk of potential fire hazards. The residential sector will witness a substantial CAGR during the forecast period owing to the rising investments, both public and private, to boost the construction of residential buildings to house the ever-increasing population.
By geography, North America is one of the major regional markets
Regionally, the fire protection system market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. North America is expected to have a notable market share in the fire protection system market due to the strict workers’ safety regulations coupled with the presence of major market players in the region. High investments to ramp up the infrastructural development in North American countries also contribute to the market growth of the fire protection system in this region. For instance, the Canadian government has planned to invest a total of US$139 billion under the ‘Investing in Canada Plan’ in key infrastructure sectors through 2028. APAC will witness significant market growth during the projected period. The growth of this regional market is attributed to the increasing number of production facilities across various end-user industries like energy and power, food and beverage, chemicals, and pharmaceuticals, which require protection from fire to safeguard their employees and assets. Furthermore, supportive government policies and initiatives to focus on workers’ safety are also propelling market growth in this region.
- August 2022: - Johnson Controls launched the Ansul LVS NF-40 non-fluorinated liquid suppression agent for vehicles. It is a part of complete LVS fire suppression solutions and it operates within the temperature range of -40 degrees Celsius to 60 degrees Celsius to ensure safety in subfreezing climates.
- March 2020: - Johnson Controls introduced the TYCO® Nitrogen Corrosion Solutions portfolio for fire sprinkler systems. The product, NG-1 nitrogen generators remove corrosive oxygen and replace it with nitrogen to stop the corrosion process and increase the system’s lifespan.
- January 2020: - Rapid Fire Protection Holdings acquired Aegis Fire Systems, Inc. which is a provider of end-to-end fire protection solutions-design, installation, and ongoing service- to the San Francisco Bay Area and the broader Northern California market.
- April 2019: - Century Fire Protection, a subsidiary of First Service Corporation, acquired Chief Fire Systems, Inc. and Advantage Fire Sprinkler Company, Inc.
COVID-19 Impact on Fire Protection Systems Market
The pandemic had a significant impact on the global fire protection systems market. The limited investments and scattered labor force hindered the sales and production of hardware associated with the fire protection system which negatively impacted the growth fire protection system market amid the pandemic. However, the rising number of residential and commercial buildings is expected to create a higher need for fire protection systems across the globe and is expected to drive the market in the upcoming forecast years.
Fire Protection Systems Market Scope:
|Market Size Value in 2020||US$51.270 billion|
|Market Size Value in 2027||US$77.321 billion|
|Growth Rate||CAGR of 6.05% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Product, End-User, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Johnson Controls, Siemens, Halma, Minimax Fire Solutions International GmbH, Ultra Fog, Bosch Sicherheitssysteme GmbH, Honeywell, ABB, Encore Fire Protection, Rotarex, Control Fire Systems Ltd|
|Customization Scope||Free report customization with purchase|
- By Product
- Detection Systems
- Suppression System
- Fire Sprinklers
- By End-User
- Oil & Gas
- Food and Beverage
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Introduction
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Fire Protection System Market Analysis, By Product
5.2. Detection System
5.3. Suppression System
5.4. Fire Sprinklers
6. Global Fire Protection System Market Analysis, By End-User
6.4.1. Oil & Gas
6.4.3. Food and Beverage
7. Global Fire Protection System Market Analysis, By Geography
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Johnson Controls
9.4. Minimax Fire Solutions International GmbH
9.5. Ultra Fog
9.6. Bosch Sicherheitssysteme GmbH
9.9. Encore Fire Protection
9.11. Control Fire Systems Ltd.
Minimax Fire Solutions International GmbH
Bosch Sicherheitssysteme GmbH
Encore Fire Protection
Control Fire Systems Ltd
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