Fire Protection Systems Market is Expected to Reach $1, 31,274.5 Million by 2027
Fire protection system is a certified product, developed according to the standards specified by the government authorities and regulatory bodies to control fire outbreaks. This system is equipped with flame detectors and smoke control devices that aid during fire emergency.The global fire protection systems market size was valued at $96.5 billion in 2019, and is projected to reach $131.2 billion by 2027, registering a CAGR of 5.2% from 2020 to 2027.
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North America generated the highest revenue in 2019, however, Asia-Pacific is expected to grow at a highest CAGR during the forecast period, followed by LAMEA. In addition, increase in fire casualty rate, property damage, and rise in public safety concerns in the developing countries such as India, Vietnam, and Indonesia during fire accidents is expected to propel the fire protection systems industry growth.
Top 10 Key Market 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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Key Market 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
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