Fire Safety Equipment Market Inclinations and Industry Development Status Highlighted During Forecast Period 2021 – 2030

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The global Fire Safety Equipment market size is expected to be worth around US$ 80,644.51 Mn by 2030, according to a new report by Vision Research Reports.

The global Fire Safety Equipment market size was valued at US$ 53,487.6 Mn in 2020 and is anticipated to grow at a CAGR of 10.6% during forecast period 2021 to 2030.

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Fire Safety Equipment Market (By Solution: Detection, Suppression; By Application: Commercial, Industrial, Residential) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Growth Factors

Rising demand for fire safety equipment for industries, such as utilities, automotive, manufacturing, energy and power, petrochemical, oil and gas exploration, mining, and construction is anticipated to drive the market growth. Several developed and developing regions like Europe, North America, and the Asia Pacific have implemented stringent regulations, which mandated the installation of fire safety equipment in the residential, industrial, and commercial sectors. These factors are driving the demand for the fire safety equipment.

Transition toward the installation of technologically advanced fire detection systems, and eco-friendly fire suppression agents is also expected to support the market development over the forecast period. Advent of smart fire suppression and detection systems, proliferation of  (IoT) for the wireless integration of such systems, enforcement of various safety and building codes, and increasing fire safety expenditure by enterprises are several other factors responsible for market growth.

Increasing accidents and loss of property owing to fire breakouts has alarmed the need for installation of smart systems, such as wireless sensor networks, across the industrial, commercial, and residential sectors. Therefore, regulatory bodies across various countries are framing new regulations focusing on mandating the installation of fire safety equipment. North America led the market in 2020 and is expected to continue the dominance over the forecast period. Rapid growth of the construction industry in Canada and the U.S. is driving the demand for fire safety equipment.

Report Highlights

Based on the application, the market is segmented into residential, commercial, and industrial. The industrial application segment dominated the market with a revenue share of over 54% in 2020. This segment includes oil and gas, transportation sectors, energy and power, and manufacturing. These sectors emphasize the installation of fire safety equipment due to the high risk involved in this sector. The oil and gas sectors are highly prone to fire accidents due to flammable materials’ involvement. Furthermore, government regulations to safeguard workers from fire accident are propelling the demand for fire safety equipment.

Based on solution, the market is segmented into fire suppression and fire detection. Fire detection dominated the market and accounted for more than 60% share of the global revenue in 2020, attributed to increasing policies, regulations, and government mandates, along with the use of advanced technology in detection devices. Furthermore, the growing number of fire accidents globally has compelled the need to install fire safety equipment.

The fire detection segment is anticipated to register the highest CAGR of 8.4 % from 2021 to 2030. The rapid development in commercial construction and growing smart city projects will boost the demand for the market in the forecast period. Furthermore, increased consumer spending on construction activities owing to the availability of disposable income and growing awareness about the fire detectors will drive the market growth.

North America dominated the market for fire safety equipment in 2020 and was valued at USD 17,163.8 million. Various countries in this region, specifically the U.S. and Canada, have significantly contributed to the market growth due to the rapid commercial and industrial construction development. Furthermore, stringent fire safety regulations and norms are propelling the growth of the regional market. For instance, across the U.S., the Fire Code, a model code, is adopted by local and state jurisdictions and is enforced by fire prevention officers belonging to municipal fire departments. Rising concerns related to fire safety & security and the quick adoption of advanced technologies are also driving the growth of this region.

Report Coverage Details
Market Size US$ 80,644.51 Mn by 2030
Growth Rate CAGR of 10.6% From 2021 to 2030
Base Year 2020
Forecast Period 2021 to 2030
Segments Covered Solution,Application, Region
Companies Mentioned Robert Bosch GmbH, Eaton Corp., Inc., Gentex Corp., United Technologies Corp, Space Age Electronics, Halma plc, Siemens Building Technologies, Hochiki Corp., Nittan Company, Ltd., Honeywell International, Inc., Napco Security Technologies, Inc., Johnson Controls

Key Players

  • Robert Bosch GmbH
  • Eaton Corp., Inc.
  • Gentex Corp.
  • United Technologies Corp
  • Space Age Electronics
  • Halma plc
  • Siemens Building Technologies
  • Hochiki Corp.
  • Nittan Company, Ltd.
  • Honeywell International, Inc.
  • Napco Security Technologies, Inc.
  • Johnson Controls

Market Segmentation

  • Solution Outlook
    • Detection
      • Detector
      • Alarm
    • Suppression
      • Extinguisher
      • Sprinkler
  • Application Outlook
    • Commercial
    • Industrial
    • Residential
  • Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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