As per GMI Research’s latest analysis, Global Fire Protection Systems Market reveals that the market is slated to register a significant CAGR over the forecast period. This is attributed to the growing concerns associated with the consumers’ safety and the launch of stringent fire safety regulations by the government and local bodies.
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Fire Protection Systems Market’s leading Manufacturers:
- Tyco
- Napco Security
- Hochiki
- Gentex Corporation
- United Technologies
- Johnson Controls
- Honeywell
- Robert Bosch
- Siemens
Fire Protection Systems Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global fire protection systems market is predicted to witness an upsurge in demand during the forecast period due to the increasing urbanization and construction of various commercial, residential, and public infrastructure. Furthermore, the growing concerns associated with the safety of the consumers and the launch of stringent fire safety regulations by the government and local bodies will further augment the growth of the fire protection systems market. There has been an upsurge in demand for various fire safety equipment for immediate application due to the rapid expansion in the industrial sector. This is presenting various new growth opportunities for the market. Additionally, the growing number of fire stations and staff to serve the rising population with fire safety gear, extinguishers, and other equipment, coupled with the increasing number of fire stations, will further boost the demand of the market.
The rising awareness among people associated with personal fire safety is another factor that will have a positive influence on the market’s demand. However, the high investment cost of the installation of these systems and the expensive maintenance and replacement services are the factors hindering the growth of the market.
Application Segment Drivers
Based on the region, Asia-pacific is predicted to rise at a faster CAGR due to the increasing urbanization and industrialization in the Asian economies, such as China, India, and Japan. Furthermore, the presence of numerous sensor manufacturing players and the growing production of fire equipment are certain factors that are expected to drive the growth of the market.
Fire Protection Systems Market Segmentation:
Segmentation by Solution:
- Detection
- Suppression
Segmentation by Fire Detection Product:
- Detectors
- Flame
- Smoke
- Heat
- Alarms
Segmentation by Fire Suppression Product:
- Extinguishers
- Gas
- Water
- Dry Chemical Powder
- Others
- Sprinklers
Segmentation by Application:
- Residential
- Commercial
- Industrial
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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