Global Fire Safety Equipment Market By Solution (Fire Detection Equipment, Fire Suppression Equipment, Fire Suppression Equipment - Fire Extinguishers, Fire Sprinklers), Vertical (Commercial, Industrial, Residential)
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The Global Fire Safety Equipment Market size is expected to reach $47.4 billion by 2023, rising at a market growth of 8.8% CAGR during the forecast period. Better government regulations that compel the adoption of fire safety equipment would drive the market demand during the forecast period. The market is relatively mature and also a saturated market due to major ongoing projects and mandatory applications of the technology across various industrial and commercial sectors. The growing construction industry and rapid development of infrastructure in developing economies have contributed to the growth of fire alarm & detection equipment market. The adoption of fire safety equipment has led to better safety quotient for various structures.
Based on Solution, the market report segments the market into Fire Detection Equipment and Fire Suppression Equipment. Fire Suppression Equipment includes Fire Extinguishers and Fire Sprinklers. Fire Extinguishers are further divided into Gas Based, Water Based, and Dry Chemical Powder & Others. Based on Vertical, the Fire Safety Equipment market segments the market into Commercial, Industrial, and Residential. Based on Regions, the Fire Safety Equipment market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the Global Fire Safety Equipment Market. Key companies profiled in the report include Robert Bosch GmbH (Bosch Security Systems Inc.), Halma plc, Hochiki Corporation, Honeywell International, Inc., Johnson Controls International Plc., Napco Security Technologies, Space Age Electronics Inc., United Technologies Corporation, Eaton Corporation plc (Cooper Wheelock), and Gentex Corporation.