Fire Protection System Market – Size, Scope, Forecast to – 2030

The global fire protection system market is expected to grow at a CAGR of around 6.9% over the forecast period 2022 to 2030 and is expected to reach a market value of around US$ 117.9 billion by 2030.

Fire protection systems are the most essential safety systems that need to be installed in buildings. It is used to detect, control and protect the occupants of the building during a fire accident. It helps in extinguishing the smoke or fire in the building and also reduces the impact of the fire accident. Fire protection systems comprise of equipment such as fire response systems, fire detectors, fire analysis software, fire suppression systems, and fire sprinkler systems.

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Growth Factors:

The market Increasing adoption of wireless technology in the fire protection system, growing human and property loss owing to fire breakouts, and stringent fire safety regulations are projected to fuel the market. Increasing implementation of building safety codes and renovation projects is also anticipated to be a major factor influencing the market growth. The application and usage of fire protection systems are anticipated to increase continuously with the developments of commercial entities and corporations.

Furthermore, technology enhancements, such as extinguishing technology based on mist and products, such as laser optical/infrared smoke detectors, alarms with embedded voice evacuation announcements, hypoxic air fire suppression systems, and wireless fire alarm systems, are expected to gain traction in the market globally. Moreover, in 2020, the market was adversely affected due to the COVID-19 crisis, which has interrupted production, impacted demand, and caused supply chain disruption. The growing trend of integrating fire alarm and detection systems with building automation systems offers vast growth opportunities to the market.

Connectivity with building automation systems is increasingly becoming a major feature of fire protection systems in commercial, industrial, and residential applications. This can be attributed to the fact that such integration allows for the development of systems that are capable of sharing and gathering data, which can help in alerting individuals about fire safety issues in the premises. A notable rise in investments in smart building automation technologies across several regions is expected to lead to new opportunities for building automation systems in the industrial and commercial sectors.

Consumers in developed regions, such as Europe and North America, have seen a steady rise in demand over the past few years, and the growth trend is also projected to continue over the next few years. However, a lack of stringent regulations and the high cost of advanced fire protection systems have kept the markets in emerging countries largely untapped. Nevertheless, improving economic conditions in countries, including Brazil and India, are anticipated to boost the demand for fire protection systems over the forecast period.

Report Highlights

• Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to the presence of flourishing economies with rapid urbanization.
• The stringent rules and regulations regarding the safety of the public will boost market growth.
• The commercial application segment leads the market accounting for more than 48.5% revenue share in 2020 and is estimated to grow significantly in the upcoming years

Regional analysis:

North America dominated the market with a revenue share of over 37.9% in 2021. This can be attributed to the high demand for intelligent houses and smart buildings, which deliver optimum safety. Furthermore, North America has a strong presence of key market players, such as Raytheon Technologies Corporation, GENTEX Corp., and Honeywell International, Inc. These companies are actively involved in spreading product awareness via marketing programs.

Asia Pacific is expected to register the highest CAGR over the forecast period. The Asia Pacific is a developing region and countries, such as India, China, and Japan, are expected to drive the overall regional market. Furthermore, growing urbanization and rising awareness among the consumers are expected to contribute to the regional market growth over the forecasted period.

Impact of COVID 19 on the Global Fire Protection System Market

The COVID 19 has negatively impacted the global fire protection system market due to the increasing number of COVID cases which has resulted in the partial lockdown in various countries. This has led to the reduction in the production of the new fire protection systems. But the market will witness a significant growth post-pandemic.

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Market Dynamics

Driver – The installation of the fire protection systems in the buildings help in controlling and reducing the impact of fire accidents and this factor is anticipated to drive the growth of the fire protection system market. For instance, Honeywell International Inc, has developed Xtralis VESDA-E VEP aspirating smoke detector system that yields 1.5 times greater sensitivity and offers six times better dust rejection than the previous generation of products, significantly reducing the potential for nuisance alarms and reducing related customer costs. It can also be connected with Wi-fi that enables the remote monitoring of the real time status. This development is expected to drive the growth of the fire protection system market.

Restraint – The major restraining factor that will negatively impact the growth of the Fire Protection System Market includes the high cost involved in the installation and maintenance of the fire protection systems.

Opportunity – With the advancement of technologies, the fire protection systems can now be coupled with smart technologies such as IoT and big data. This integration of technologies with fire protection systems will enable the remote monitoring of the building and this development will find huge opportunities for market growth.

Challenges – The integration of fire protection system with the central control mechanism that will efficiently work in case of any emergencies is one of the major challenges encountered by the fire protection system market.

Recent Developments

• On 30th September 2021, Johnson Controls, the global leader for smart, healthy and sustainable building announced that its industrial heat pump technology has supported Entra ASA, a Norwegian real estate company in securing top honors in the prestigious Heat Pump Award 2021.
• On 11th October 2021, Siemens Corporation announced its latest development Siemens FDA241 a smoke detector that utilizes two sensing wavelengths to differentiate between smoke and deceptive phenomena, facilitating increased detection reliability even in challenging environments.
• On 19th April 2021, Siemens Corporation announced about the launch of Cerberus FIT, a new version of the fire protection system focusing on the expansion of the small to medium-sized buildings market. Cerberus FIT increase the fire safety by improving the functionality and enhanced productivity.
• On 9th August 2021, Halma, the global group of life-saving companies, has announced that it has acquired Three companies that will strengthen its purpose of growing a safer, cleaner, healthier future for everyone, every day. This acquisition forms a part its strategy of actively managing its portfolio of global businesses.

Key Companies Profiled

The global fire protection system market is characterized by the presence of various small and big players. The major market players are

 Johnson Controls; Honeywell International, Inc.; Raytheon Technologies Corporation; GENTEX Corp.; Siemens; Robert Bosch GmbH; Halma plc; Eaton

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

• By Product

• • Fire Detection
  • Fire Suppression
  • Fire Response
  • Fire Analysis
  • Fire Sprinkler System
• By Service
  • Managed Service
  • Installation and Design Service
  • Maintenance Service
  • Others
• By Application
  • Commercial
  • Industrial
  • Residential

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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