Global Fire Protection Systems Market Might be Worth $95 BN by 2023 Due to Increasing Demand

Global Fire Protection Systems Market, by Type (Active, Passive), by Product (Fire Detection, Fire Suppression, Fire Analysis, Fire Response), by Service (Engineering, Managed, Maintenance, Installation & Design), by Vertical - Forecast 2023

Pune, India - August 7, 2019 /MarketersMedia/ —

Market Highlights

Fire protection systems are necessary for overcoming safety challenges occurred due to fire that can cause heavy infrastructure damage as well as the loss of life. The new research report about the global fire protection systems market published by Market Research Future (MRFR) computes betterment for this market at 8% CAGR between 2017 and 2023. By value, the market can be worth the USD 95 bn by the end of the forecast period.

The most important global market drivers for the fire protection systems include increasing demand for fire protection systems, increased fire-related expenditures of various enterprises, and rise in deaths due to fire explosions. Other factors pushing up the market growth include the increased budget for infrastructure development, low operational cost, higher energy saving, rising demand for smart homes, and growing research & development (R&D) as well as innovation regarding fire detection & prevention systems. However, the requirement of compliance with several regulatory codes & standards and lack of awareness about fire protection systems can hinder the market growth.

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Segmentation:

The global fire protection systems market segmentation covers fire analysis, fire response, fire sprinklers, fire suppression, product, service, type, and vertical. MRFR is analyzing the features of these segments to understand market trends.

As per fire analysis, this market has been segmented into fire mapping & analysis software and fire modelling & simulation software. For fire response, the market has been segmented into emergency lighting systems, fire alarm devices, response communication systems, and voice evacuation & public alert systems.

Based on fire sprinklers, the market has been segmented into deluge fire sprinklers, dry-pipe fire sprinklers, pre-action fire sprinklers, wet-pipe fire sprinklers, and others. Regarding fire suppression, the market has been segmented into carbon dioxide extinguisher, dry chemical powder extinguisher, fire extinguishers, foam extinguisher, water extinguisher, and others.

In the context of the product, the market has been segmented into various fire detection products that are flame detectors, heat detectors, radio frequency identification system (RFID systems), sensors & detectors, and smoke detectors. In terms of services, the market has been segmented into engineering services, installation & design, maintenance services, and managed services.

By type, the market has been segmented into active fire protection systems and passive fire protection systems. The vertical-based segmentation of this market covers commercial, energy & power, government, manufacturing, oil & gas, and residential.

Regional Analysis:

The regional segmentation of the global fire protection systems market covers North America, Asia Pacific, Europe, and Rest of the World (RoW).

Leading the global market, North America region is expected to witness huge growth during the forecast period due to technological advancement, presence of key market players, availability of high-speed internet, and increased adoption of automation across the residential as well as industrial construction projects. Augmented demand and availability of the quality automated system in this region is also furthering the market growth. USA, Canada, and Mexico generate the biggest chunk of revenue.

Europe is another lucrative market due to the proliferation of smart and connected devices, penetration of Internet, high density of population, the regulatory mandates regarding safety introduced by European governments, and the presence of large untapped consumer base. The weighty country-specific markets in this region are France, Germany, Italy, and the UK. The remaining countries of Europe also make a sizable contribution to the market.

The Asia Pacific market may witness rapid expansion in the growing market economies like China, India, and Japan, during the forecast period. In this region, the market surge is happening due to the wide uptake of connected devices, heavy requirement regarding fire safety, and the presence of sensors manufacturing companies. South Korea is another big country-specific market in this region. The remaining countries of the Asia Pacific region are also making a huge contribution to the market.

Competitive Dashboard:

Major players in the global fire protection systems market include Gentex Corporation (USA), Halma PLC (UK), Hochiki Corporation (Japan), Honeywell International Inc. (USA), Johnson Controls International Plc. (USA), Minimax Viking GmbH (Germany), Robert Bosch GmbH (Germany), Siemens AG (Germany), Tyco International PLC (Ireland), and United Technologies Corporation (USA).

Latest Industry News

A part of Rostec State Corporation, Technodinamika holding company, has completed testing accessories, primarily fire protection systems of those aircraft systems that have been developed for MC-21 and SSJ-100. Now, the new fire protection system accessories are to be sent to Sukhoi Civil Aircraft for further certification testing within SSJ 100 aircraft. 18 JUL 2019
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List of Figures

FIGURE 1 RESEARCH TYPE

FIGURE 2 FIRE PROTECTION SYSTEMS MARKET, BY TYPE

FIGURE 3 FIRE PROTECTION SYSTEMS MARKET, BY PRODUCT

FIGURE 4 FIRE PROTECTION SYSTEMS MARKET, BY SERVICE

FIGURE 5 FIRE PROTECTION SYSTEMS MARKET, BY VERTICAL

FIGURE 6 FIRE PROTECTION SYSTEMS MARKET, BY REGION

FIGURE 7 NORTH AMERICA FIRE PROTECTION SYSTEMS MARKET, BY TYPE

FIGURE 8 NORTH AMERICA FIRE PROTECTION SYSTEMS MARKET, BY PRODUCT

FIGURE 9 NORTH AMERICA FIRE PROTECTION SYSTEMS MARKET, BY SERVICE

FIGURE 10 NORTH AMERICA FIRE PROTECTION SYSTEMS MARKET, BY VERTICAL

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/fire-protection-systems-market-4676

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