Fire protection system market is one of the most important systems required to be installed in any building or establishment. It is used to detect, control, and safeguard inhabitants in a building or an establishment from fire hazards. These systems help extinguish smoke or fire and alarm the building occupants. This, in turn, reduces the chances of loss of property and life.
The global sales of fire protection system garnered a market value of US$ 70 Billion and is expected to register a CAGR of 7% by accumulating a market value of US$ 138 Billion through the assessment period 2022-2032 Increasing concern for safety and awareness of precautionary measures is playing a key role in the adoption of fire protection systems in various end user industries. Moreover, demand from the commercial sector is influencing the sales of fire protection systems.
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Top Companies of Fire Protection Systems Market
- Eaton Corporation
- Johnson Controls
- Halma Plc.
- HOCHIKI Corporation
- Hitachi Ltd.
- Honeywell International Inc.
- Iteris Inc.
- Raytheon Technologies Corporation
- GENTEX Corporation
- Siemens AG
This study on the global Fire Protection Systems Market has product, material, and country-specific data, along with market size valuation and forecast price point assessment of the same.
A comprehensive estimate of the Fire Protection Systems Market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Fire Protection Systems Market during the forecast period. Price point comparison by region with the global average price is also considered in the study. The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Market Insights of Fire Protection Systems Market.
A short viewpoint offered in the report elucidates the macro-economic aspects that influence the growth drivers of Fire Protection Systems Market, which includes global GDP of Fire Protection Systems Market growth rate, various industries growth rate, such as cosmetics, pharmaceuticals, food and others.
Key Segments of Fire Protection Systems Industry Report
- By Product
- Fire Analysis
- Fire Detection
- Fire Suppression
- Fire Sprinkler System
- Fire Response
- By Service
- Managed Fire Protection Service
- Fire Protection Systems Maintenance Service
- Fire Protection System Installation and Design Service
- Other Fire Protection System Services
- By Application
- Fire Protection Systems for Commercial Applications
- Fire Protection Systems for Industrial Applications
- Fire Protection Systems for Residential Applications
This newly published and insightful report compounds sheds light on key dynamics, Key Trends of Fire Protection Systems Market and their impact on the overall value chain from Fire Protection Systems Market to end-users, which are expected to transform the future of the Fire Protection Systems Market sales.
Recent Developments
- In November 2021, Robert Bosch GmbH acquired Protec Fire and security group. The company is focusing on strengthening its presence in the European region.
- Likewise, that same month, Johnson Controls launched the Smart Fire Sprinkler Monitoring solution. This solution offered 24/7 monitoring capabilities via cloud, supported operational downtime, reduced building damage, and prevented system failure.
- Furthermore, in October 2020, Honeywell launched a new cloud platform for fire safety systems. This platform enabled technicians to minimize the disruption, aid in compliance, and reduced the time required to design, install, commission, and maintain the safety of systems.
Key Highlights
- Sales of Fire Protection Systems Market In 2023
- Competitive Analysis of Fire Protection Systems Market
- Fire Protection Systems Market and Analysis of Fire Protection Systems Market
- Key Trends of Supply Side Analysis of Fire Protection Systems Market
- Outlook of Fire Protection Systems Market
- Insights of Fire Protection Systems Market
- Analysis of Fire Protection Systems Market
- Survey of Fire Protection Systems Market
- Size of Fire Protection Systems Market