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Fire Protection Systems Market Analysis and Forecast, 2020–2027 | Covid-19 Impact, Business Outlook and Growth Factors
Fire Protection Systems Market
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The global fire protection systems market size was valued at $96,500.0 million in 2019, and is projected to reach $1, 31,274.5 million by 2027, registering a CAGR of 5.2% from 2020 to 2027.
Alarm valves and sprinkler systems are some of the widely used fire protection systems. These systems have been invented to detect and respond to fire, smoke, or flame. Introduction of fire protection systems has helped in responding quickly and accurately to fire, as compared to the traditional heat or smoke devices used in the past. Furthermore, fire sensors and detectors when installed in commercial buildings serve as ideal and affordable safety measure.
Implementation of stringent regulations to install fire protection systems in residential and nonresidential buildings globally is expected to fuel the growth of the market. The industrial and commercial areas majorly use fire protection systems for safety of employees. In addition, increase in risk of property damage and public safety concerns due to fire accidents drive growth of the global market.
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Key Segments
By Product Type
Fire Detection
Fire Response
Fire Suppression
Fire Analysis
By Type
Active Fire Protection Systems
Passive Fire Protection Systems
By End-User
Commercial
Industrial
Governmental
Institutional
Others
By Region
North America
Europe
Asia-Pacific
LAMEA
Key Players
Gentex Corporation
Halma Plc.
Hochiki Corporation
Honeywell International Inc.
Johnson Controls International Plc.
Minimax Viking GmbH
Robert Bosch GmbH
Securiton AG
Siemens AG
Raytheon Technologies
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research 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 domains.
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