The Fire Protection Systems market was valued at nearly $17 billion in 2021 and is expected to grow year-on-year at a rate of 5.8% in 2022 to reach $18 billion . By the end of the 2022-2032 forecast period, the market is likely to have grown 1.6x in value to reach US$30 billion .
Tightening fire safety regulations combined with technological advances in fire fighting capabilities are some of the factors expected to drive the growth of the market. By product, fire extinguishers will account for 52% of total revenue, while dry chemical powder fire extinguishing systems will account for 1/3 of the global market share.
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The importance of fire protection and the prevention of lives from wildfire disasters is growing in high-risk industries such as energy, oil and gas, and chemical manufacturing. Sprinkler systems, gas fire systems, and aerosol condensate fire systems are expected to become more common due to their lower cost and increased fire-fighting capabilities.
Components, assembled devices/machines, integrated systems and processing units, automation systems integrated with hardware and firmware are some of the characteristics or reference markets to look for in industrial automation and equipment. We use various tried and tested research and study methodologies to obtain accurate market estimations and insights for each of the above mentioned Fire Protection Systems market types.
Competitive landscape
Leading fire system manufacturers are leveraging approaches such as strategic collaborations, partnerships and new product launches. The tightening of fire safety regulations in all countries gives players the opportunity to introduce fire systems equipped with the latest technology. Some notable developments are as follows:
- In August 2020, Robert Bosch GmbH introduced the new generation Avenar panel 2000 and 8000 fire alarm control panels. Driven by the IoT, the system is fully backwards compatible with current fire alarm system components. Users can fully control the equipment through the eMatrix function
- In January 2021, Gentex Corporation announced the acquisition of new nanofiber sensing technology, which can detect a wide variety of chemicals, from explosives to VOCs, with applications across a multitude of end-use industries. The initiative complements his expertise in the commercial fire protection sector
Main companies profiled:
- Robert Bosch GmbH
- Gentex company
- Minimax Viking GmbH
- Honeywell International
- Raytheon Technologies (United Technologies Corporation)
- Halma Plc
- Siemens AG
- Johnson Control International
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Key segments covered:
- By product
- Fire extinguisher
- Fire sprinkler
- By type of fire extinguisher
- Gas
- Waterfall
- Dry chemical powder
- Other types of fire extinguishers
- By application
- Commercial applications
- industrial applications
- Residential applications
The questionnaire answered in the report includes:
- How has the industry grown?
- What is the present and future outlook based on the region?
- What are the challenges and opportunities?
- Why consumption in the region?
- In which year is the segment expected to surpass the segment?
What sets the Fact.MR report apart from others?
- Fact.MR follows a six-point mechanism known as EVOLVE (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.) . The report was specially created to evaluate the impact of COVID-19 on the Keyword industry. This mechanism focuses on almost all factors in a definite way to provide the best research report for industry stakeholders.
- Evaluate: A Fact.MR report evaluates every little aspect that can prove to be a growth driver for the keyword industry, thus making it different and special from other reports.
- Visualize: Authors involved in research activities have visualized the post-COVID-19 era so key industry stakeholders have an overview and help them take certain steps to ensure continued growth during the forecast period.
- Overcoming: The report examines the points that can prove to be an Achilles heel for the keyword industry and helps create strategies for overcoming the obstacles that can hinder the growth of the keyword industry.
- Leverage: The keyword industry can leverage certain aspects which can prove beneficial for increasing the growth rate. Fact.MR covers all points that key stakeholders can leverage.
- Verification: Research is carried out systematically to ensure validation of all aspects covered in the report. All points are double checked and verified thoroughly to avoid defects and false information.
- Eradicate: Last but not the least, this aspect helps the key stakeholders to eradicate all the hurdles standing between the growth rate and keyword industry.
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