Market Research Future (MRFR) has published a Cooked Research Report on the "Global Fire Protection System Market.
MRFR recognizes the following companies as the key players in the Global Fire Protection Systems Market— Siemens AG, Johnson Controls International PLC, United Technologies Corporation, Robert Bosch GmbH, Hochiki Corporation, Halma PLC, Minimax Viking GmbH, Gentex Corporation, Securiton AG, Honeywell International Inc., and Encore Fire Protection.
Fire Protection Systems Market Highlights
The Global Fire Protection Systems Market is accounted to register a CAGR of 10.5% during the forecast period and is estimated to reach USD 212013.0 Million by 2032.
The Global Fire Protection Systems Market refers to the worldwide industry that encompasses the manufacturing, distribution, installation, and maintenance of various fire protection and prevention equipment and systems. These systems are designed to detect, control, and extinguish fires in residential, commercial, industrial, and public spaces to safeguard life and property.
The global fire protection systems market is driven by factors such as increased awareness about fire safety, stringent government regulations mandating fire protection measures in buildings and industries, urbanization, and a rise in commercial and industrial infrastructure development.
Segment Analysis
The Global Fire Protection Systems Market has been segmented based on type, service and end user.
On the basis of type, the market is segmented into Active Fire Protection Systems and Passive Fire Protection Systems. During the projection period, active fire protection is expected to contribute the most market share. AFP may not always work properly and fail to perform efficiently, especially due to frozen or blocked pipes or irregular water supply.
Based on service, the market has been segmented into Installation and Design Services, Maintenance Services and Managed Services. The installation and design services segment dominants the market. The design and installation of fire protection largely depend on the age, size, type, use, occupancy, and daily footprint of a premise. Governments across the globe have designed standards and codes that vary for different premises.
Based on end user, the market has been segmented into Commercial, Residential, Manufacturing, Transportation & Logistics, Energy & Power and others. The Residential segment is expected to be the fastest-growing segment. Residential buildings include individual houses, lodging houses, dormitories, apartments, and hotels. The most widely adopted fire protection system for residential spaces includes smoke detectors, hydrants, or sprinklers.
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Regional Analysis
The Global Fire Protection Systems Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Fire Protection Systems Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Fire Protection Systems Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Fire Protection Systems Market comprises of Middle East, Africa, and Latin America.
North America is one of the significant markets for fire protection systems. The region's market is primarily driven by stringent fire safety regulations, high awareness about fire safety measures, and a strong emphasis on protecting critical infrastructure and commercial properties.
Europe also holds a substantial share in the global fire protection systems market. Stringent building codes and safety standards have led to an increased demand for fire protection systems in both residential and commercial buildings.
The Asia-Pacific region is experiencing rapid growth in the fire protection systems market due to increasing urbanization, industrialization, and construction activities. The rise in commercial spaces, manufacturing facilities, and infrastructure projects has led to a higher demand for fire protection systems in the region.
Furthermore, the rest of the world's Global Fire Protection Systems Market is divided into the Middle East, Africa, and Latin America. The fire protection systems market in Latin America is driven by growing awareness about fire safety and increasing investments in infrastructure development. Countries like Brazil, Mexico, and Argentina have witnessed a rise in demand for fire protection systems, especially in commercial and industrial sectors.
Key Findings of the Study
- The Global Fire Protection Systems Market is expected to reach USD 212013.0 Million by 2032, at a CAGR of 10.5% during the forecast period.
- The Asia-Pacific region is experiencing rapid growth in the fire protection systems market due to increasing urbanization, industrialization, and construction activities.
- Based on service, the market has been segmented into Installation and Design Services, Maintenance Services and Managed Services to holding the largest market in 2022.
- Siemens AG, Johnson Controls International PLC, United Technologies Corporation, Robert Bosch GmbH, Hochiki Corporation, Halma PLC, Minimax Viking GmbH, Gentex Corporation, Securiton AG, Honeywell International Inc., and Encore Fire Protection.
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Companies Covered | 15 |
Pages | 296 |
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