Fire Protection System Market Size is Anticipated to Gain USD 92.1 Bn by 2027

Chicago, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Fire Protection System Market by Product (Fire Suppression, Fire Detection, Fire Sprinkler, Fire Analysis, Fire Response), Services (Engineering, Installation and Design, Managed, Maintenance) and Region - Global Forecast to 2027", The global fire protection system market exhibits lucrative growth potential. The markets growth is fueled by growing demand of these systems to reduce loss of human lives and property due to fire breakouts, stringent regulations, and growth in the construction industry.

Some of the major companies operating in the fire protection system market are Johnson Controls (Ireland), Carrier Global Corporation (US), Honeywell International Inc. (US), Siemens (Germany), Robert Bosch GmbH (Germany), Halma plc (UK), Hochiki Co., Ltd. (Japan), Gentex Corporation (US), Eaton Corporation plc (US), and Teledyne Technologies Incorporated (US).

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Fire Protection System Market Report Scope

“Browse in-depth TOC on " Fire Protection System Market Size"

175– Tables
69 – Figures

268 – Pages

Johnson Controls

Johnson Controls offers diversified technology-based products and operates through four business segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. The Building Solutions segment designs, manufactures, markets, and installs integrated Heating, Ventilation, and Air Conditioning (HVAC) systems; building management systems; controls; fire detection systems; fire suppression solutions; and mechanical equipment. The company has a presence in more than 150 countries across the Americas, EMEA, and the Asia Pacific.

Carrier Global Corporation

Carrier Global Corporation provides healthy, safe, and sustainable building and cold chain solutions. The company’s portfolio includes industry-leading brands, such as Carrier, Kidde, Edwards, LenelS2, Carrier Transicold, and Automated Logic, offering three major segments: HVAC, refrigeration, and fire & security. The products under fire & security cater to a wide range of applications in residential, commercial, industrial, and transportation facilities. The segment provides fire suppression systems, fire detection and alarm systems, and passive fire protection equipment for industrial, commercial, and residential areas. The company also offers monitoring and response services under this segment.

Siemens

Siemens manufactures products for power generation, power transmission, automation, and medical diagnosis. It operated through Digital Industries, Siemens Healthineers, Smart Infrastructure, Mobility, Portfolio Companies, and Siemens Financial Services (SFS) segments during FY 2020. The Smart Infrastructure segment provides automation technologies and digital services for the safety and security of buildings. The segment offers products, solutions, services, and software for fire safety, security, building automation, heating, ventilation, air conditioning, and energy management. The fire safety segment offers services pertaining to fire detection, fast alarming, and intelligent fire extinguishing, catering to a wide range of commercial and industrial applications.

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Recent Developments

• In June 2022, Kidde HomeSafe integrated smart detection system was launched. This system, provides complete home-detection solution which includes detection of carbon monoxide, smoke, water leaks and frozen pipes.
• In June 2022, Siemens Korea Smart Infrastructure launched the SRF 2.0 intelligent fire detection system, which has the auto self-diagnosis feature and provides high reliability & stable performance.
• In October 2020, Honeywell International Inc. launched the first tools from its new suite of Connected Life Safety Services (CLSS)— its first all-in-one cloud platform for fire safety systems.              

Which region is What are the driving factors for the fire protection system market?

Strict government regulations pertaining to fire safety is the key driving factor for this fire protection system market.

Which region will grow at a fast rate in the future?

The fire protection system market in Asia pacific is expected to grow at the highest CAGR during the forecast period.

Related Reports:

1. The Smoke Detectors Market is estimated to be USD 2.3 billion in 2022 and expected to reach USD 3.4 billion by 2027, at a CAGR of 8.2% from 2022 to 2027.
2. The Home Security Systems Market is estimated to be USD 56.9 billion in 2022 and expected to reach USD 84.4 billion by 2027, at a CAGR of 8.2% from 2022 to 2027.
3. The Functional Safety Market is predicted to grow from USD 5.2 billion in 2022 to USD 7.2 billion by 2027, at a CAGR of 6.8%.