Global Fire Protection System Market Is Expected To Reach USD 95.44 Billion By 2025

13-May-2019 | Zion Market Research

Zion Market Research has published a new report titled “Fire Protection System Market By Product Type (Fire Detection Systems, Fire Extinguishers, Fire Suppression Systems, and Fire Response Systems), By Service (Installation & Design Services, Engineering Services, Managed Services, Maintenance Services, and Others), and By Vertical (Healthcare, Manufacturing, Hospitality, IT & Telecommunication, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global fire protection system market was USD 58.02 billion in 2018 and is expected to reach USD 95.44 billion by 2025, at a CAGR of 7.37% between 2019 and 2025.

The increasing incidences of disastrous fire injuries are fuelling the number of casualties and loss of property in both business and non-business areas. This is majorly driving the demand for fire protection structures like fire suppressors and fireplace alarm devices and supporting the fire protection system market globally. Additionally, improvements in technology coupled with stringent regulations assisting protection at commercial, residential, and industrial areas will further contribute to the growth of the global fire protection system market. Furthermore, various developments related to smoke detectors coupled with IoT and big data are likely to create new market opportunities in the future. However, high installation and maintenance costs of fire protection devices may hamper this market.

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Browse the full “Fire Protection System Market By Product Type (Fire Detection Systems, Fire Extinguishers, Fire Suppression Systems, and Fire Response Systems), By Service (Installation & Design Services, Engineering Services, Managed Services, Maintenance Services, and Others), and By Vertical (Healthcare, Manufacturing, Hospitality, IT & Telecommunication, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/fire-protection-systems-market

Global Fire Protection System Market

The global fire protection system market is divided based on product type, service, and vertical. The product type segment is fragmented into fire detection systems, fire extinguishers, fire suppression systems, and fire response systems. The fire detection systems are likely to grow substantially in the future, owing to these systems’ capability to issue warnings about dangerous situations well in advance. Additionally, fire alarm systems have numerous devices working parallel to protect human lives or loss of properties. These fire systems warn people via audio and visual application in case of fire or smoke. These alarms are activated automatically or manually via activation devices like pull station or manual call point. The global fire protection system market is divided based on product type, service, and vertical. The product type segment is fragmented into fire detection systems, fire extinguishers, fire suppression systems, and fire response systems. Fire suppression systems showed substantial growth in 2018. Due to the government strict rules and regulations imposed for safety, the government is demanding a minimum number of fire extinguishers to be installed across various verticals.

By region, the Asia Pacific fire protection system market is expected to grow at a substantial rate in the future, owing to intensive industrialization and the presence of emerging economies like China and India. New constructions witnessed across the region are further driving this regional market’s growth. Moreover, the sound wave fire extinguishers and water mist systems are newly launched fire safety system types that are also contributing to this region’s fire protection system market. Infrastructural developments and strict government norms are driving the fire protection system market in North America. The fire system manufacturers have been seen investing generously in the research and development of their existing products along with introducing new and improved fire protection products as compared to the traditional fire technology.

Some noticeable players of the global fire protection system market are Siemens, Honeywell International, Gentex Corporation, ABB, Robert Bosch, Johnson Controls, Minimax Viking, United Technologies, VFP Fire Systems, Halma, and Hochiki Corporation.

This report segments the global fire protection system market into:

Global Fire Protection System Market: Product Type Analysis

  • Fire Detection Systems
  • Fire Extinguishers
  • Fire Suppression Systems
  • Fire Response Systems

Global Fire Protection System Market: Service Analysis

  • Installation and Design Services
  • Engineering Services
  • Managed Services
  • Maintenance Services
  • Others

Global Fire Protection System Market: Vertical Analysis

  • Healthcare
  • Manufacturing
  • Hospitality
  • IT and Telecommunication
  • Transportation and Logistics
  • Others

Global Fire Protection System Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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