Global Fire Protection System market is projected to grow at a CAGR of 4.01% during the forecast period, reaching a total market size of US$68.113 billion in 2025 from US$53.795 billion in 2019. 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 driving due to the growing awareness and requirement of 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 & 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 with LAN/WAN networks.
The global fire protection system market is segmented by product, end-user, and by 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, chemical, 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 they require 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 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 in 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 the fire protection system. 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 the fire protection system. Growing healthcare infrastructure is bolstering the demand for fire protection systems across this sector so as to effectively detect, contain, and extinguish the fire quickly. The rising construction of office spaces, hotels, and shopping complexes are driving the market growth of fire protection systems across the commercial sector in order 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 in order to house the ever-increasing population.
By geography, North America one of the major regional markets
Regionally, the fire protection system market is classified into North America, South America, Europe, the Middle East, and 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 contributes 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, chemical, and pharmaceuticals which require protection from fire to safeguard its employees and assets. Furthermore, supportive government policies and initiatives to focus on workers’ safety are also propelling the market growth of this region.
Market Players and Competitive Intelligence
The competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others.
Key industry participants profiled as part of this section are Johnson Controls, Siemens, Halma, Minimax Fire Solutions International GmbH, Ultra Fog, Bosch Sicherheitssysteme GmbH, Honeywell, ABB, Encore Fire Protection, Rotarex, and Control Fire Systems Ltd.
|Market size value in 2019||US$53.795 billion|
|Market size value in 2025||US$68.113 billion|
|Growth Rate||CAGR of 4.01% from 2019 to 2025|
|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|
Frequently Asked Questions (FAQs)
Q1. What will be the fire protection system market size by 2025?
A1. The global fire protection system market is projected to reach a total market size of US$68.113 billion by 2025.
Q2. What is the size of the global fire protection system market?
A2. Fire Protection Systems Market was valued at US$53.795 billion in 2019.
Q3. What are the growth prospects for the fire protection system market?
A3. The fire protection system market is projected to grow at a CAGR of 4.01% during the forecast period.
Q4. Which region holds the largest market share in the fire protection system market?
A4. North America is expected to have a notable 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.
Q5. What factors are anticipated to drive the fire protection system market growth?
A5. Stringent regulations regarding workers’ safety across different industries are the major driver of the fire protection system market.
Minimax Fire Solutions International GmbH
Bosch Sicherheitssysteme GmbH
Encore Fire Protection
Control Fire Systems Ltd
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