Report Id: SNS/SEMI/2269 | July 2022 | Region: Global | 127 Pages
Report Scope & Overview:
Fire Protection System Market Size was valued at USD 75.36 billion in 2022, and is expected to reach USD 120.1 billion by 2030, and grow at a CAGR of 6.6% over the forecast period 2023-2030.
A fire protection system is a certified product that was developed in accordance with the standards established by government authorities and regulatory bodies in order to control fire outbreaks. This system includes flame detectors and smoke control devices to help in the event of a fire. Alarm valves and sprinkler systems are two common types of fire protection systems. These systems were developed to detect and respond to fires, smoke, and flames. In comparison to the traditional heat or smoke devices used in the past, the introduction of fire protection systems has aided in responding to fires more quickly and accurately. Furthermore, when installed in commercial buildings, fire sensors and detectors serve as an ideal and cost-effective safety measure.
MARKET DYNAMICS:
KEY DRIVERS:
Wireless technology is becoming more widely used in fire detection.
Increased human and property loss as a result of fire outbreaks.
Construction industry expansion.
RESTRAINTS:
Fears about false alarms and detection failure.
High installation and maintenance costs for fire protection systems.
The cost of upgrading traditional fire detectors to smart detectors is prohibitively expensive.
OPPORTUNITIES:
Regulatory compliance is reviewed on a regular basis.
Water mist systems are becoming more popular.
IoT and big data integration for smoke detectors
CHALLENGES:
User interface integration with fire protection solutions
IMPACT OF COVID-19:
Following the outbreak of COVID-19, the growth of the fire protection system and consumer demand for fire protection systems declined in 2020, as component manufacturing was reduced due to the shutdown of the majority of fire protection system product manufacturing facilities globally. The COVID-19 outbreak caused significant product supply disruption in 2020, as the majority of manufacturing facilities were shut down. Demand for fire protection systems from various verticals, such as commercial and residential, was impacted globally as many projects were halted and were expected to restart at a slower rate following the COVID-19 crisis or by the end of FY 2021.
Based on Product, the fire protection system market is segmented into Fire Suppression, Fire Sprinkler System, Fire Detection, Fire Response and Fire Analysis. The growing need for fire analysis, which aids in making proper decisions during fire prevention, can be attributed to the segment's growth. Fire modelling and simulation software, as well as fire mapping and analysis software, are frequently used in fire analysis. It is an important component of a fire protection system because it allows for informed decision-making, which leads to maximum efficiency.
Based on Service, the fire protection system market is segmented into Maintenance Services, Engineering Services, Managed Services, Installation and Design Services and Other. The maintenance services segment is expected to grow at the fastest rate. Fire protection systems are critical for detecting and alerting people in the event of a fire or smoke; however, any flaw in the system can result in accidents and asset losses. As a result, regular maintenance is required to reduce the risk of failure and extend the system's life. Maintenance service includes auditing and servicing fire protection equipment on a regular basis to ensure that fire protection systems meet all essential fire safety standards during an emergency.
Based on Vertical, the fire protection system market is segmented into Commercial, Residential and Industrial. The industrial application segment is expected to grow at the fastest rate. Oil and gas, mining, energy and power, and manufacturing are all examples of industrial applications. The need to protect automated systems from fires is expected to fuel the segment's growth. Furthermore, in the fire-prone sector, the emphasis is on installing complete proof protection and prevention systems in industries, as well as strict government regulations. This is expected to fuel the industrial segment even more.
COMPETITIVE LANDSCAPE:
The key players in the fire protection market are Gentex Corporation, Halma, Honeywell International, Minimax Viking, Securiton, Raytheon Technologies, Hochiki Corporation, Johnson Controls International, Robert Bosch and Siemens.
MARKET SEGMENTATION:
BY TYPE
Passive Fire Protection Systems
Active Fire Protection Systems
BY PRODUCT
Fire Suppression
Fire Sprinkler System
Fire Detection
Fire Response
Fire Analysis
BY SERVICE
Maintenance Services
Engineering Services
Managed Services
Installation and Design Services
Other
BY VERTICAL
Commercial
Residential
Industrial
REGIONAL ANALYSIS:
During the forecasted period 2022-2028, APAC is expected to be the fastest-growing market for fire protection systems. Growing urbanization has increased construction activity, which is helping to drive market growth in this region. APAC is a developing region, with China, Japan, and South Korea propelling the region's overall growth in the fire protection system sector. The demand for fire protection systems is expected to rise as technology and the economy advance. Furthermore, the region's growing urbanization has increased construction activity, which has contributed significantly to the growth of the fire protection system sector. Governments in this region have established fire safety standards, and the fire protection system market is expected to expand as these policies are implemented.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Report Attributes | Details |
---|---|
Market Size in 2022 | US$ 75.36 Billion |
Market Size by 2030 | US$ 120 Billion |
CAGR | CAGR of 6.6% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Type (Passive Fire Protection Systems, Active Fire Protection Systems) • By Product (Fire Suppression, Fire Sprinkler System, Fire Detection, Fire Response, Fire Analysis) • By Service (Maintenance Services, Engineering Services, Managed Services, Installation And Design Services, Other) • By Vertical (Commercial, Residential, Industrial) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | Gentex Corporation, Halma, Honeywell International, Minimax Viking, Securiton, Raytheon Technologies, Hochiki Corporation, Johnson Controls International, Robert Bosch and Siemens. |
Key Drivers | • Wireless technology is becoming more widely used in fire detection. • Increased human and property loss as a result of fire outbreaks. • Construction industry expansion. |
Restraints | • Fears about false alarms and detection failure. • High installation and maintenance costs for fire protection systems. |
Frequently Asked Questions (FAQ) :
The Fire Protection System Market size was valued at 71.1 billion in 2021 at a CAGR of 6.6%.
The market value is expected to reach USD 111.2 billion by 2028.
The market has been segmented with respect to type, product, service and vertical.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Fire Protection System Market Segmentation, by type
8.1Introduction
8.2 Passive Fire Protection Systems
8.3 Active Fire Protection Systems
9. Fire Protection System Market Segmentation, by product
9.1Introduction
9.2 Fire Suppression
9.3 Fire Sprinkler System
9.4 Fire Detection
9.5 Fire Response
9.6 Fire Analysis
10. Fire Protection System Market Segmentation, by service
10.1 Introduction
10.2 Maintenance Services
10.3 Engineering Services
10.4 Managed Services
10.5 Installation and Design Services
10.6 Other
11. Fire Protection System Market Segmentation, by vertical
11.1 Introduction
11.2 Commercial
11.3 Residential
11.4 Industrial
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13.Company Profiles
13.1 Johnson Controls International
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Gentex Corporation
13.3 Halma
13.4 Honeywell International
13.5 Minimax Viking
13.6 Securiton
13.7 Raytheon Technologies
13.8 Hochiki Corporation
13.9 Robert Bosch
13.10 Siemens
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15.Conclusion
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