Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- The "Fire Safety Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global fire safety equipment market grew from $42.47 billion in 2022 to $45.75 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The fire safety equipment market is expected to grow to $58.32 billion in 2027 at a CAGR of 6.3%.
North America was the largest region in the fire safety equipment market in 2022. The regions covered in the fire safety equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in fire safety equipment are extinguishers, fire hydrants, respirators, and other products. A fire extinguisher is a portable device used to put out a small fire by directing onto it a substance that cools the burning fire, deprives the flame of oxygen, or interferes with the chemical reactions occurring in the fire flame. The solutions include fire detection and suppression and involve various technologies such as active and passive fire safety systems. These are used in commercial, industrial, and residential applications.
The rapid growth of the construction industry is expected to propel the growth of the fire safety equipment market going forward. Construction is the process of building, altering, repairing, remodelling, improving, or demolishing any structures. Fire safety equipment is widely used at the construction site to protect the user from fire.
For instance, according to Invest India, an India-based investment promotion and facilitation agency, the construction industry is expected to reach $1.4 trillion by 2025. Furthermore, by 2030, India's real estate business would be worth $1 trillion, contributing 13% of the country's GDP. Therefore, the rapid growth of the construction industry drives the growth of the fire safety equipment market.
Strategic partnerships have emerged as a key trend gaining popularity in the fire safety equipment market. Major companies operating in the fire safety equipment sector are focused on new partnerships to strengthen their position.
The countries covered in the fire safety equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $45.75 billion |
| Forecasted Market Value (USD) by 2027 | $58.32 billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Bosch Security System Inc.
- Hamla PLC
- Hochiki Corporation
- Honeywell International Inc.
- Johnson Controls International PLC.
- Napco Security Technologies Inc
- Siemens Building Technologies pvt. Ltd
- Gentex Corporation
- Eaton Corporation Inc
- Nittan Company Ltd.
- Space Age Electronics
- Lowa Fire Equipment Company
- Hiren Industrial Corporation
- Larsen Manufacturing
- NAFFCO
Key Topics Covered:
1. Executive Summary
2. Fire Safety Equipment Market Characteristics
3. Fire Safety Equipment Market Trends And Strategies
4. Fire Safety Equipment Market - Macro Economic Scenario
4.1 COVID-19 Impact On Fire Safety Equipment Market
4.2 Ukraine-Russia War Impact On Fire Safety Equipment Market
4.3 Impact Of High Inflation On Fire Safety Equipment Markett
5. Fire Safety Equipment Market Size And Growth
5.1. Global Fire Safety Equipment Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Fire Safety Equipment Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Fire Safety Equipment Market Segmentation
6.1. Global Fire Safety Equipment Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Extinguisher
- Fire Hydrant
- Respirator
- Other Products
6.2. Global Fire Safety Equipment Market, Segmentation By Solution, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fire Detection
- Fire Suppression
6.3. Global Fire Safety Equipment Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Active Fire Safety Systems
- Passive Fire Safety Systems
6.4. Global Fire Safety Equipment Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Commercial
- Industrial
- Residential
7. Fire Safety Equipment Market Regional And Country Analysis
7.1. Global Fire Safety Equipment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Fire Safety Equipment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/77xpg
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