Fire Detection Equipment Global Market To Reach Value Of About $60 Billion In 2025
22 Jun, 2021
The fire detection equipment market consists of sales of fire detection equipment used to warn people when the presence of fire is detected. Fire detection equipment reduces the damage caused by fire by generating warning signals (including audio or visual signals) in case of fire. Detection of fire is done by detecting the smoke, heat or flames. However, this equipment does not intervene in the fire suppression.
Global Fire Detection Equipment Market Size And Drivers:
The global fire detection equipment market is expected to grow from $39.12 billion in 2020 to $41.87 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $59.75 billion in 2025 at a CAGR of 9%. Stringent government regulations and mandates on fire detection measures contribute to the fire detection equipment market’s growth.
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Trends In The Global Fire Detection Equipment Market
The entities involved in the fire detection equipment market are using Infrared technology to reduce the false alarms from these systems and, at the same time, shorten the time it takes alarms to detect actual fires. The use of Infrared technology increases the fire detection capabilities of a detector even in the dusty atmosphere. For instance, MSA Safety Incorporated, a U.S based company involved in the making sophisticated safety products launched an FL4000H multi-spectrum IR flame detector that uses multi-spectrum IR (Infrared) to detect the flames 210 feet away and also monitors false alarms. The device employs flame recognition technology to confirm fire by analyzing near IR radiation thus producing more effective, reliable results.
Global Fire Detection Equipment Market Segments:
The global fire detection equipment market is further segmented based on product type, end user, end use industry and geography.
By Product Type: Flame Detectors, Smoke Detectors, Heat Detectors
By End-User: Commercial, Industrial, Residential, Transport, Others
By End-Use Industry: Banking, Financial Services and Insurance (BFSI), Hospitality & Travel, Healthcare, Transportation & Logistics, Manufacturing, Retail, Mining, Oil and Gas, Others
By Geography: The global fire detection equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Fire Detection Equipment Market At:https://www.thebusinessresearchcompany.com/report/fire-detection-equipment-global-market-report
Fire Detection Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides fire detection equipment market overviews, analyzes and forecasts market size and growth for the global fire detection equipment market, fire detection equipment market share, fire detection equipment market players, fire detection equipment market segments and geographies, fire detection equipment market’s leading competitors’ revenues, profiles and market shares. The fire detection equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.