What Has Been the Growth Trajectory of the Fire Safety Equipment Market?
The fire safety equipment market has seen considerable growth due to a variety of factors.
• The market size for fire safety equipment has seen significant growth over the last couple of years. It is slated to increase from $47.31 billion in 2024 to a projected $50.12 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.0%.
The past growth in the market can be associated with factors such as regulatory compliance, surge in infrastructure construction, urban and population expansion, augmented demand in industrial and commercial sectors, and heightened focus on safety in the workplace.
What Does the Future Hold for the Fire Safety Equipment Market?
The fire safety equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for fire safety equipment is anticipated to experience impressive growth in the coming years. It is expected to increase to a staggering $67.15 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%.
The growth during this predicted period can be traced back to the rising demand for sustainable and environmentally-friendly solutions, escalated fire risks due to global warming effects, the surge in the construction of data centers, the retrofitting of existing structures, and expanded infrastructural development. The forecast period will witness major trends like intelligent fire safety systems, fire suppression technologies, fire detection and alarm mechanisms, specialized fire security measures, and wireless and remote monitoring systems.
What Are the Critical Driver Fuelling the Fire Safety Equipment Market's Growth?
The fire safety equipment market is anticipated to surge in response to the swift expansion of the construction sector. The construction process, involving activities ranging from building and alteration to damage repair, remodeling, and demolition, heavily relies on fire safety equipment for risk mitigation. As per Invest India, an organization promoting and facilitating investments in the country, the construction sector is projected to hit the mark of $1.4 trillion by 2025. Moreover, by 2030, the value of the real estate industry in India is predicted to be $1 trillion, accounting for 13% of the national GDP. Thus, the speedy growth of the construction sector catalyzes the expansion of the fire safety equipment market.
How Is the Fire Safety Equipment Market segmented?
The fire safety equipment market covered in this report is segmented –
1) By Product: Extinguisher, Fire Hydrant, Respirator, Other Products
2) By Solution: Fire Detection, Fire Suppression
3) By Technology: Active Fire Safety Systems, Passive Fire Safety Systems
4) By Application: Commercial, Industrial, Residential
Subsegments:
1) By Extinguisher: Water-Based Extinguishers, Foam Extinguishers, Powder Extinguishers, CO2 Extinguishers, Wet Chemical Extinguishers
2) By Fire Hydrant: Wet Barrel Hydrants, Dry Barrel Hydrants, Dry Hydrants
3) By Respirator: Self-Contained Breathing Apparatus (SCBA), Air-Purifying Respirators (APR), Escape Respirators
4) By Other Products: Fire Blankets, Fire Hose Reels, Smoke Detectors, Fire Alarm Systems
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What New Trends Are Influencing the Fire Safety Equipment Market?
Prominent firms in the fire safety equipment market, like Fike Corp, are creating inventive products like Fike Fire Monitors in response to the increasing need for fire safety measures. Fike Fire Monitors, which are self-operating water cannons, can rapidly put out fires in difficult areas, typically within just 15 seconds of identifying a fire. For example, in June 2023, the US-based Fike Corp, a manufacturer and vendor of fire protection systems, launched autonomous water cannons, known as Fike Fire Monitors. Integrating Fike's flame detectors, high-resolution cameras, and thermal imaging cameras with these water cannons results in a thorough water-based fire control system.
Who Are the Key Players in the Fire Safety Equipment Market?
Major companies operating in the fire safety equipment market include:
• Bosch Security System Inc.
• Halma plc
• Hochiki Corporation
• Honeywell International Inc.
• Johnson Controls International plc
• Napco Security Technologies Inc.
• Siemens Building Technologies pvt. Ltd.
• Gentex Corporation
• Eaton Corporation Inc.
• Nittan Company Ltd.
• Space Age Electronics Inc.
• Lowa Fire Equipment Company
• Hiren Industrial Corporation
• Larsen Manufacturing LLC
• National Fire Fighting Manufacturing
• Tyco International Ltd.
• Bosch Security System Inc.
• Cooper Wheelock Inc.
• Panasonic Corporation
• ADT Security Services Inc.
• WSA Fire Systems Inc.
• Robert Bosch GmbH
• Eaton Corporation
• Halma plc
• Securiton AG
• Securitas AB
• Secom Co. Ltd.
• Walter Kidde & Company
• Amerex Corporation
• Ansul Incorporated
• Buckeye Fire Equipment Company
• Chemguard Inc.
• Elkhart Brass Manufacturing Company
• Fike Corporation
• Fireboy-Xintex LLC
• Firetrace International
• FlameStop Australia Pty Ltd.
• Minimax GmbH & Co. KG
What Is The Most Dominant Region In The Fire Safety Equipment Market?
North America was the largest region in the fire safety equipment market in 2024. The regions covered in the fire safety equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
