The Global Fire Protection System Market size is expected to reach $122.7 billion by 2030, rising at a market growth of 6.5% CAGR during the forecast period.
Residential constructions are growing globally due to the rising population and standard of living, therefore, the residential sector would register approximately 1/5th share of the market by 2023. For example, the UN’s data stated that only 30% of the world's population resided in urban areas in 1950; by 2018, that number had increased to 55%. According to projections, 2.5 billion people could live in urban areas by 2050 due to urbanization, which is the gradual shift of people from rural to urban areas, nearly 90% of this increase would occur in Asia and Africa, according to a new United Nations data set released in 2018. When fire protection systems have not been installed or turned on while flammable items are being transported into the structure, fires during construction may break out quickly. The expanding construction sector would consequently increase the demand for fire protection systems, leading to market growth in the forecast period.
The major strategies followed by the market participants are Product Launches as the key developmental strategy in order to keep pace with the changing demands of end users. For instance, In September, 2021, Iteris announced the launch of Vantage Apex, a high-definition video and four-dimensional radar sensor with integrated artificial intelligence algorithms. The Vantage Apex system allows decision-zone safety functions, collision avoidance, and advanced lane-by-lane detection that provides specific traffic detection and data. Additionally, In February, 2023, Eaton introduced xDetect, the latest fire alarm and detection control panel that decreases cost and installation time. The product eases control of fire alarms and other peripherals in commercial buildings, allowing a faster response in the case of a fire or other emergency.
Based on the Analysis presented in the KBV Cardinal matrix; Honeywell International, Inc., Siemens AG, Hitachi, Ltd. (Hitachi Energy Ltd.) and Raytheon Technologies Corporation are the forerunners in the Market. In April, 2023, Honeywell released a Morley-IAS Max fire detection and alarm system that helps improve building and occupant safety. The system is designed to remove the time-taking and technically difficult installation of add-on components. Companies such as Robert Bosch GmbH, Johnson Controls International PLC and Eaton Corporation PLC are some of the key innovators in the Market.
Fire protection involves the combined efforts of federal custodians, tenants, building owners in the private sector, and local fire agencies. Policies and regulations vary by region and are designed to protect human life and property. The Australian Building Codes Board (ABCB) is an example of this which oversees safety, health, amenity, accessibility, and sustainability issues in buildings. To expand the current deemed-to-satisfy (DTS) provisions for sprinkler protection to medium-rise multistorey residential buildings, ABCB is collaborating with Fire and Rescue New South Wales (FRNSW), the Australasian Fire and Emergency Services Authorities Council (AFAC), and the Fire Protection Association of Australia (FPAA). The market is expected to expand due to the strict regulations by these authorities along with the funding for fire protection the governments of several nations is providing.
Foam-based fire detection systems can be used as a fire control, prevention, or extinguishing agent in processing industrial areas, such as refineries, oil & gas areas, and commercial areas. Foam-based fire detection systems are efficient & effective when used properly and have no negative impact on the environment. The foaming agent in this system is readily biodegradable in natural ecosystems and effluent treatment facilities. Foam-based fire suppression systems can cover larger areas, quickly filling a vast warehouse. These systems are perfect when an extinguishing agent must swiftly cover a large area. From an installation and maintenance perspective, foam-based suppression systems are more cost-effective. Because of this, their demand is expanding so quickly on the market and thereby resulting in overall market growth.
The integration of user interfaces when numerous solutions are being utilized in a control mechanism is a significant challenge for the fire protection system market. Fire protection systems can be efficient and cost-effective if they are directly integrated into a centralized building control system so that information can be retrieved from a central location and emergency regulatory measures can be implemented automatically. By combining these systems, a user can monitor the status of multiple systems from a single location or access features, such as remote notification, trending, or maintenance management, that may not be available through a fire protection system. This factor poses a challenge to the growth of the market.
Based on offering, the market is segmented into product and service. In 2022, the service segment projected a prominent revenue share in the market. Fire protection services collaborate with businesses to establish a safe environment replete with fire suppression as well as detection systems. Working with experts who can guarantee the finest protection is crucial because different kinds of organizations and structures will also have particular needs for fire suppression.
Under product type, the market is divided into fire detection, fire suppression, fire response, fire analysis and fire sprinkler system. In 2022, the fire detection segment held the highest revenue share in the market. The fire detection segment comprises several equipment that works collectively to detect fires, smoke, carbon monoxide, and other crises and to alert people using audio and video appliances. Installing fire detection system has been mandated by legislative requirements from several nations, such as the National Fire Protection Association in the US and the Australian Building Code, which has increased demand for these devices.
By service type, the market is classified into managed service, installation & design service, maintenance service, and others. In 2022, the installation & design service segment witnessed the largest revenue share in the market. The practice of outsourcing the fire protection system's design, development, updates, documentation, and installation operations is referred to as "installation and design service." As inhabitants become aware of the advantages of fire protection systems in small, mid-size, and large buildings, they are being implemented in all types of buildings. This is driving the demand for installation and design services in the market.
Based on application, the market is segmented into commercial, industrial, and residential. In 2022, the commercial segment dominated the market with the maximum revenue share. The commercial application segment consists of healthcare, BFSI, retail, government, telecom, and IT educational institution applications. The development of strict government regulations for fire prevention and control around the world has led to an increase in the demand for fire protection systems in commercial applications.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 74.5 Billion |
| Market size forecast in 2030 | USD 122.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.5% from 2023 to 2030 |
| Number of Pages | 290 |
| Number of Table | 463 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America segment recorded the largest revenue share in the market in 2022. The demand from various end-use industries, including residential, commercial, and industrial, as well as a growth in strategic cooperation and creativity among market competitors, have propelled the demand for these pipes in the North America market. The important variables influencing the North American market are increased awareness of fire safety systems and regulatory requirements.
Free Valuable Insights: Global Fire Protection System Market size to reach USD 122.7 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eaton Corporation PLC, Siemens AG, Johnson Controls International PLC, Robert Bosch GmbH, Iteris, Inc., Honeywell International, Inc., Gentex Corporation, Raytheon Technologies Corporation, Halma PLC and Hitachi, Ltd. (Hitachi Energy Ltd.).
By Offering
By Application
By Geography
The Market size is projected to reach USD 122.7 billion by 2030.
Stringent regulations for fire safety are driving the Market in coming years, however, Insufficient integration and configuration of fire protection solutions restraints the growth of the Market.
Eaton Corporation PLC, Siemens AG, Johnson Controls International PLC, Robert Bosch GmbH, Iteris, Inc., Honeywell International, Inc., Gentex Corporation, Raytheon Technologies Corporation, Halma PLC and Hitachi, Ltd. (Hitachi Energy Ltd.).
The expected CAGR of this Market is 6.5% from 2023 to 2030.
The Product segment is leading the Global Fire Protection System Market by Offering in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $92.4 billion by 2030.
The North America market dominated the Global Fire Protection System Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $42.1 billion by 2030.
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