Fire Protection System Market - By Product (Fire Detection, Fire Suppressions, Fire Analysis and Fire Response), By Service (Installation & Design, Maintenance and Engineering Services), By Vertical (Commercial, Residential, Manufacturing, Government and Others) and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Fire protection system is a technology used for detecting and extinguishing fire. It consist of flame detectors and smoke control devices among other equipment that aid fire emergency. Moreover, these systems have been design to detect and respond to fire, smoke or flame presence. Fire Protection System Market accounted approximate USD 62.21 billion in 2020 and it is expected to reach USD 128.22394 billion in 2030 with a CAGR of 7.5 % during the forecast period. Additionally, these systems has helped in responding quickly and accurately to fire, as compare to the traditional heat and smoke detector devices used in the past as well as it provide the best affordable safety measures.

Market Segmentation:

On the basis of product, fire protection system market is segmented into fire detection, fire suppressions, fire analysis and fire response. Fire suppressions hold the largest size of global fire protection system market during the forecast period. According to research study, the fire suppression segment to cross an approximate valuation of USD 15,408 million by 2025. On the basis service, the market is bifurcated into two types that are installation & design and engineering services. Based on vertical it is classified into commercial, residential, manufacturing, government and others. According to research study commercial sector is experiencing the high rate of fire protection system adoption by 2026 and it can cross approximate USD 12636million of valuation in the market. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

The key factors for driving the global fire protection system market include the technological advancement in construction industry, rise in deaths and loss of property due to fire, strict government regulations and policies and rapid development of wireless technology for fire detection. Moreover, rise in need for security against fire and increase in safety budget by enterprises is growing factors for global fire technology system market. However, high installation and maintenance costs of fire protection system and unexpected failure of fire alarm restraining the growth of the market. Creating awareness on safety among the consumers will fuel the growth of fire protection system market.   

Geographic Analysis:

North America is anticipated to dominate the market in the upcoming years. Technological advancement, rigid government policies are driving the market, in the region. According to research study North America hold approximate 35% share of global market. The APAC market is expected to grow at the highest CAGR during forecast period. Moreover, demand for fire protection system is expected to increase with growing urbanization, new construction and real estate projects, increase in technological and economic advancement in the region.  The fire protection system market in APAC is anticipated to grow at approximate CAGR of 9.2% during the forecast period. The Europe market is expected to hold around one –fourth of the market.

Competitive Scenario:

Some of the key players in fire protection system are Johnson controls international plc. , Honeywell international Inc., Robert Bosch Gmbh, Siemens AG, Fire suppression ltd., Napco Security technologies Inc., Fireline Corporation, Firetrol protection system Inc., Halma PLC and Minimax Viking Gmbh.

Fire Protection System Market Report Scope