Market Size in 2020 | Market Forecast in 2028 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 53.1 billion | USD 72.3 billion | CAGR at 9.2% | 2020 |
The global Fire Safety Equipment market accrued earnings worth approximately 53.1(USD Billion) in 2020 and is predicted to gain revenue of about 72.3(USD Billion) by 2028, is set to record a CAGR of nearly 9.2% over the period from 2021 to 2028. The report offers assessment and analysis of the Fire Safety Equipment market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).
Fire Safety Equipment Market: Overview
Fire safety equipment includes fire extinguishers and fire hoses along with fire resisting protective fabrics, respirators, fire alarm systems, communication devices, fire detecting systems, and fire resistant gloves. Apart from this, fire safety devices also include signage, sprinklers, fire blankets, and first aid kits. Reportedly, fire extinguishers are expected to be easily accessible, visible, charged properly, and inspected daily as they are first line of defense utilized for extinguishing fire. These devices offer safety to end-users in case of fire outbreaks by providing alarms and warnings to end-users. Fire safety equipment is utilized in households, clinics, hospitals, educational institutions, production units, and commercial constructions.
Strict enforcement of legislations pertaining to implementing of building safety codes in European countries and the U.S. & Canada will drive market trends. Surge in execution of strict government norms pertaining to workplace safety due to increase in fire accidents will supplement growth of fire safety equipment market in foreseeable future. With massive demand for fire safety devices in oil & gas, construction, and mining sectors, the fire safety equipment market is projected to gain traction in year ahead. Product innovations for launching more safe products in market will enhance penetration of fire safety equipment across myriad sectors in near future. Increase in demand for fire safety device across utilities, automotive, power & energy, petrochemicals, and manufacturing will drive business landscape.
Furthermore, large-scale use of fire safety equipment in residential, commercial, and industrial sectors will provide new growth avenues for fire safety equipment industry over upcoming years. Additionally, rise in refurbishment activities in construction will prompt market demand in forthcoming years. Moreover, insurance firms are offering incentives for real-estate owners to set up fire safety equipment in commercial as well as residential buildings and industrial ones and this is predicted to enhance market profitability.
Report Attributes | Report Details |
---|---|
Report Name | Fire Safety Equipment Market Research Report |
Market Size in 2020 | USD 53.1 billion |
Market Forecast in 2028 | USD 72.3 billion |
Growth Rate | CAGR of 9.2% |
Number of Pages | 178 |
Key Companies Covered | Siemens Building Technologies; Eaton Corp., Inc.; Napco Security Technologies, Inc., Robert Bosch GmbH; Nittan Company, Ltd.; Space Age Electronics; Gentex Corp.; Honeywell International, Inc.; Hochiki Corp.; United Technologies Corp.; Johnson Controls; and Halma plc. |
Segments Covered | By Solution, By Application, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2020 |
Historical Year | 2018 to 2020 |
Forecast Year | 2021 - 2028 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North American Fire Safety Equipment Market To Reach Highest Threshold Of Growth By 2028
Expansion of fire safety equipment market in North America over forecast timeframe can be due to thriving real-estate sector in countries such as Canada and the U.S. Furthermore, strict fire safety laws in the region will enlarge market scope in North America over the years ahead. Presence of giant product manufacturers in Canada and the U.S. will succor expansion of fire safety equipment industry in North America over forecast timeline.
Key players profiled in report include:
FrequentlyAsked Questions
Strict enforcement of legislations pertaining to implementing of building safety codes in European countries and the U.S. & Canada will embellish market trends. Surge in execution of stringent government norms pertaining to workplace safety due to increase in fire accidents will support expansion of fire safety equipment market in foreseeable future. With escalating demand for fire safety devices in oil & gas, construction, and mining sectors, fire safety equipment market is projected to gain traction in year ahead. Product innovations for introducing more safe products in market will enhance penetration of fire safety equipment across a slew of sectors over foreseeable future. Increase in demand for fire safety device across utilities, automotive, power & energy, petrochemicals, and manufacturing will spur business sphere.
Furthermore, large-scale use of fire safety equipment in residential, commercial, and industrial sectors will provide new growth avenues for fire safety equipment industry over upcoming years. Additionally, rise in refurbishment activities in construction will prompt market demand in forthcoming years.
According to Zion market research report, the global Fire Safety Equipment market accrued earnings worth approximately 53.1(USD Billion) in 2020 and is predicted to gain revenue of about 72.3(USD Billion) by 2028, is set to record a CAGR of nearly 9.2% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the projected timespan. The regional market expansion is owing to thriving real-estate sector in countries such as Canada and the U.S. Furthermore, stringent enforcement of fire safety rules in the region will result in enlargement of market scope in North America in the years to come. Presence of giant players in Canada and the U.S. will support fire safety equipment industry expansion in North America over forecast timeframe.
The key market participants include Siemens Building Technologies; Eaton Corp., Inc.; Napco Security Technologies, Inc., Robert Bosch GmbH; Nittan Company, Ltd.; Space Age Electronics; Gentex Corp.; Honeywell International, Inc.; Hochiki Corp.; United Technologies Corp.; Johnson Controls; and Halma plc.
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