What Has Been The Evolution of the Fire Protection System Market in Recent Years?
The fire protection system market has seen considerable growth due to a variety of factors.
•In recent times, the market size of the fire protection system has seen considerable growth. It is projected to escalate from $81.26 billion in 2024 to an astounding $87.69 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.9%.
This growth in the historical duration can be credited to several factors including, a surge in building construction, strict safety rules, growing industrialization and urbanization, insurance industry mandates, and a rise in awareness and education.
What Is the Forecasted Market Size and Growth Rate for The Fire Protection System Market?
The fire protection system market is expected to maintain its strong growth trajectory in upcoming years.
• The market for fire protection systems is projected to experience robust growth in the coming years, with an expected value of "$125.35 billion by 2029 and a compound annual growth rate (CAGR) of 9.3%.
Factors contributing to this growth during the forecast period include increased development of urban infrastructure, a global emphasis on safety, growth in commercial and residential construction, the effects of climate change, and changes to insurance policy. Key trends predicted during this period include the use of video fire detection systems, attention to human behavior during fire evacuation situations, adherence to tougher fire safety regulations, the use of drones for monitoring fires, and a developing market for fire protection as a service (FPaaS).
What Are The Core Factors Supporting Growth In The Fire Protection System Market?
The looming threat of greater human and property damage resulting from fire incidents is anticipated to boost the fire protection system market's expansion in the foreseeable future. Financial or physical damage to tangible properties, often termed as property loss, typically arises due to varied incidents like fires, theft, natural calamities, accidents or vandalism leading to the loss or destruction of solid goods, structures or resources. The fire protection systems, encompassing smoke detectors and heat sensors, are designed to promptly identify fires and potentially prevent property damage. For example, a government report from the UK in February 2023 showed a rise in fire-related deaths in England from 249 to 276 for the year ending in September 2022. Interestingly, 99 of the 276 fire-related deaths took place in the last quarter of 2021. Besides, fire and rescue services in England responded to 620,758 incidents in the same year, marking a 16% rise from the preceding year's tally of 537,423. Of these incidents, 185,437 were fires – a significant 28% jump from the 145,313 fires reported the year before. Accordingly, the escalating human and property damage from fire incidents underscores the growing requirement for fire protection systems, fuelling market growth.
What Are The Major Segments Within The Global Fire Protection System Market?
The fire protection system market covered in this report is segmented –
1) By Type: Active Fire Protection Systems, Passive Fire Protection Systems
2) By Services: Managed Service, Installation And Design Service, Maintenance Service, Other Services
3) By End-User: Commercial, Industrial, Governmental, Institutional, Other End-Users
Subsegments:
1) By Active Fire Protection Systems: Fire Sprinkler Systems, Fire Extinguishing Systems (e.g., foam, CO
2), Fire Alarm Systems, Smoke Control Systems, Fire Suppression Systems
2) By Passive Fire Protection Systems: Fire-Resistant Walls And Partitions, Fire Doors And Windows, Fire-Stop Systems, Intumescent Coatings, Fire-Resistant Materials And Insulation
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Which Trends Are Expected To Transform The Fire Protection System Market?
The surge of innovative technologies is a major trend that is becoming increasingly prevalent in the fire protection system marketplace. Industry-leading corporations in this market are concentrating their efforts on the creation of state-of-the-art products employing advanced technologies to consolidate their market standing. Take for example the unveiling of the Morley MAx fire detection and alarm system by Honeywell International Inc., a US-based engineering and technology firm, in August 2022. This device aims to enhance the safety of occupants and buildings. The compact yet powerful intelligent fire alarm control panel provides a comprehensive suite of advanced features while being easy to install, manage, and maintain for installers and end customers. The control panel comes equipped with a state-of-the-art 7-inch touchscreen panel, delivering a highly intuitive and ergonomic user experience. It displays color-coded visual icons and events. The device is also enriched with advanced functions like multi-Boolean logic and the CANBus protocol across panels, enabling faster communication.
Who Are the Key Players in the Fire Protection System Market?
Major companies operating in the fire protection system market include:
• Honeywell International Inc.
• Siemens AG
• Halma plc
• Robert Bosch Gmbh
• Johnson Controls
• Ems Security Group Ltd.
• Electro Detectors Ltd.
• Sterling Safety Systems
• Wagner Group Gmbh
• Hochiki Corporation
• Apollo Fire Detectors Limited
• Eurofyre Ltd.
• Detectomat Systems GmbH
• Ceasefire Industries Pvt. Ltd.
• Bosch Security Systems GmbH
• Gentex Corporation
• Hitachi Ltd.
• Argus Fire Protection Company Ltd.
• Teledyne Technologies Incorporated
• Viking Group Inc.
• Victaulic Company
• Fike Corporation
• Securiton AG
• Carrier Global Corporation
• Eaton Corporation plc
• API Group Corp.
• Encore Fire Protection
• Orbis Technology
• Global Fire Protection Group
What Is The Most Dominant Region In The Fire Protection System Market?
Asia-Pacific was the largest region in the fire protection system market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global fire protection system market report during the forecast period. The regions covered in the fire protection system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
