Portland, OR, Sept. 16, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global fire protection systems market pegged at $96.50 billion in 2019, and is projected to hit $131.27 billion by 2027, growing at a CAGR of 5.2% from 2020 to 2027.
Rise in residential & non-residential construction, growing awareness regarding safety from fires, and rapid urbanization & industrialization have boosted the growth of the global fire protection system market. However, predictive maintenance, high initial costs, and fluctuation of raw materials prices hamper the market. On the contrary, advancements in technologies to ensure safety & security and increasing government investments in developing infrastructure sectors are expected to create lucrative opportunities in the coming years.
Download Sample PDF (270 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/772
Covid-19 scenario:
- The Covid-19 outbreak has greatly affected the fire protection systems market, due to supply chain disruption and shortage of raw material.
- Several countries have relaxed certain restrictions regarding industrial manufacturing to reinitiate projects.
The global fire protection systems market is segmented on the basis of product type, type, end user, and geography. Based on product type, the market across fire detection, fire response, fire suppression, and fire analysis. The commercial segment is estimated to register the highest CAGR of 6.0% during the forecast period. Moreover, the segment held the largest share in 2019, contributing to more than two-fifths of the market.
On the basis of type, the market is segmented into active fire protection systems and passive fire protection systems. The active fire protection systems segment is expected to register the highest CAGR of 5.8% during the forecast period. Moreover, the segment held the largest share in 2019, accounting for more than three-fifths of the market.
Get detailed COVID-19 impact analysis on the Fire Protection Systems Market: https://www.alliedmarketresearch.com/request-for-customization/772?reqfor=covid
Based on end user, the market is categorized into commercial, industrial, governmental, institutional, and others. The global fire protection systems market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to manifest the highest CAGR of 8.0% during the forecast period. However, the market across North America held the largest share in 2019, contributing to more than half of the market.
The global fire protection systems market report includes an in-depth analysis of the major market players such as Honeywell International Inc., VT MAK, United Technologies Corporation, London Security PLC, Bosch Security Systems, Gentex Corporation, Hochiki Corporation, Halma PLC, Tyco International Limited, and Johnson Controls, Inc.
Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/772
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.