New York, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners recent market study on "Fire Protection Systems Market Size, Share, Trends, Growth Forecasts to 2025 - Global Analysis and Forecasts by Technology (Active and Passive); Product Type (Detectors, Sprinklers, Extinguishers and Alarm); and End Users (Educational Institutions, Consumer Goods & Retail, Energy & Power, Governmental, Healthcare, Manufacturing, Oil & Gas, Mining and Others)”, The fire protection system market revenue was valued for USD 52.64 Billion in 2017 and is reaching at USD 116.51 Billion by 2025; it is expected to grow at a CAGR of 10.5% during the forecast period 2018 to 2025.
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Global Fire Protection Systems Market Report Scope:
| Market Size Value in | USD 52.64 Billion in 2017 |
| Market Size Value by | USD 116.51 Billion by 2025 |
| Growth rate | CAGR of 10.5% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
| No. of Pages | 168 |
| No. of Tables | 21 |
| No. of Charts & Figures | 86 |
| Historical data available | Yes |
| Segments covered | Technology ; Product Type ; and End Users |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Fire Protection Systems Market: Competitive Landscape and Key Developments
Honeywell International, Inc., Johnson Controls, Inc., Robert Bosch GmBH, Siemens AG, United Technologies are among the top leading players profiled in the fire protection systems market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments under fire protection systems market are mentioned below:
In 2017: Bosch Security Solutions announced Intrusion Integration software development kit (SDK) for its B and G Series Control Panels. This software easily provides integrated security solutions especially for fire, access control, intrusion, and IP video by supporting 599 points, 32 doors, 16 Bosch IP and 32 areas cameras. It can be used by third-party applications for monitoring various points, areas, and power.
In 2018: U.S. Bank Stadium selects Lenel (Brand of UTC) to provide advanced security systems. Lenel will serve OnGuard security management system which consist of about 400 surveillance cameras for monitoring of all the areas, Visitor management systems, Video intercoms, and real-time incident management system.
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Global Fire Protection Systems Market: Industry Overview
The fire protection systems market has been segmented on the basis of technology, product type, end users and geography. Based on technology, the fire protection systems market is bifurcated into active and passive. In terms of product type, the fire protection systems market is bifurcated into detectors, sprinklers, extinguishers and alarm. Based on end users, the fire protection systems market is segmented into educational institutions, consumer goods & retail, energy & power, governmental, healthcare, manufacturing, oil & gas, mining and others. Based on geography, the fire protection systems market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The fire protection systems market in Europe is projected to witness impressive growth during 2022–2028. Mega-cities in the UK, Germany and France are considered to be the nodes of growth of fire protection systems that are encouraging the adoption of these equipment in other evolving cities of Europe including Italy and Spain. Europe region comprises of France, Germany, Italy, Spain, and UK. Europe is the second largest market for fire protection systems market. The region has large number of reconstructions, especially in the Germany and the UK. Moreover, fires have been one of the major causes for casualties in Europe in the last two to three decades. These fires cause huge damages to property as well as human lives in Europe. With this increase in the renovations, fire accidents, the demand for fire protection systems in a broad range of end-use sectors in the region will increase, leading to increasing growth of the fire protection systems market in the European region.
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Need for a Safe and Efficient Fire Protection System Inside Buildings Owing to Increasing Urbanization is Expected to Drive the Global Fire Protection Systems Market Growth | 2025
The 21st century has witnessed huge influx of population in the urban cities of developed and developing economies in search of better life. Higher standards of living, higher job opportunities, access to modern amenities and services are the few major factors that have contributed in the migration of rural population to the urban areas around the world. Developing economies witnessed a steady growth in the post-recession era and thus there was rise in the disposable incomes by consumers. As per the data from Worldbank, currently 54% of the entire globe’s population resides in the urban areas while the remaining percentages are still residing in the rural areas. Hence, close to 4 billion of the world’s population houses in the urban areas piling up pressure on the infrastructures in the urban areas. As a result, density of population in these areas has reached unprecedented levels. As urbanization has increased, there have been increasing demands for housing and infrastructure from the consumer segment and hence the need for fire protection system has increased in the commercial buildings, offices, malls and other public places.
Thus, increasing need for a safe and efficient fire protection system inside buildings owing to increasing urbanization is expected to drive the fire protection systems market growth during forecast period.
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The fire protection systems market growth in North America is mainly driven by increasing infrastructures, growing number of fire accidents and others. The US is a developed country in terms of modern technology, standard of living, infrastructure, and many others. The growth in the infrastructure in the US has been continuing since past many decades. In a year, many of the old buildings are being restructured to build a new one and so is the restructuring or modernization of the different components used in the buildings, especially in the eastern side of the US is evident. But since the reconstruction is continuing every year with less buildings to be reconstructed and more new buildings to be constructed, the fire protection systems market in the US has a steady growth. On the other hand, real estate in Mexico is growing at a higher rate, with a number of old buildings present in the country that are demanding for redevelopment. Especially in the office space segment, the growth in the redevelopment of buildings to reconstruct, is continuing on a larger scale. There are various factors that are supporting the growth of fire protection systems market in North America, such as urbanization, demographic changes, and others.
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