Global Fire Safety Equipment Market To Cross The Market Size Of USD 60 Billion By 2026

The equipment designed to protect human life/ property from fire accidents by extinguishing the fire is categorized as firefighting equipment. It can be used by the trained firefighters as well as the untrained layman during the fire breaks out or the mechanisms are built within the infrastructure itself. The recent publication of Bonafide Research under the title – Global Fire Safety Equipment Market Outlook, 2026 provides an in-depth market analysis of the global fire safety equipment industry. This report covers the detailed insights of the equipment based on product category- Fire Detection, Fire Alarm & Fire Suppression. It also included insights along with the value analysis of the fire safety equipment. The report also mentions the competition of leading companies that are involved in the manufacturing of fire safety equipment. The report is classified into 5 regions and 19 countries, along with their local rules & trends.

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The increasing awareness about the safety precautions against fire and the rising fire accidents due to carelessness and electricity short circuits have been major drivers of the industry. The market grew to a value difference of more than USD 24000 Million from 2015 to 2026. Apart from this, the increasing construction activities are likely to be a major support for the market growth in the coming years. The need for fire safety precaution in other sectors like the manufacturing industry, petrochemical, power & energy, mining, etc is also to be aiding the market to grow with an anticipated CAGR of 5.25%.

Categorized into three segments of Fire Detection, Fire Alarm, and Fire Suppression based on product type, the global market is led by the fire detection segment which held more than half of the market share in the year 2020. Many a time, people tend to consider these products as synonyms for each other, but they hold a significant difference. Yet it is better to prefer a smoke detector over a fire detector for a smaller area to be alert about the potential fire. However, the fire alarm is expected to be the fastest-growing segment with an anticipated CAGR of 6.06% through the forecasted period.

In terms of end-user application, the market is divided into Industrial, Commercial, and Residential segments, in which the commercial segment held the highest share contributing to a value of USD 16209 Million in the year 2020. The major reason for this can be attributed to the increasing regulations and policies of the different governments which have made the use of fire safety appliances mandatory. The top reasons for the residential fire accidents are gas cylinders, overheated appliances, and inadequate wirings. Due to the proximity of the residential units and the presence of highly flammable items, the risk associated with the fire break out is also very high. Thus, through the forecasted period, the residential application segment is expected to be growing at a CAGR of 5.57%, the highest anticipated rate.

The market is led by the North America market while the Asia Pacific & Europe regions held nearly 50% of the market share in 2020. In Europe, the National Fire Protection Act, along with the other rules has mandated to equip the infrastructure with adequate fire safety equipment systems. On the other hand, the Asia Pacific is growing with the aid of China and India, which is on the path of rapid urbanization and industrialization. Also, the presence of several local manufacturing companies is likely to be driving the market in the forecasted period.

The prominent players in the global market are targeting more towards their expansion in Asia and Latin America. The local players focus on launching newer products to meet the growing local consumer needs. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base.

Major companies mentioned in the report: Gentex Corporation, HOCHIKI Corporation, Napco Security Technologies, Inc., Nittan Company, Ltd., Halma plc, Robert Bosch GmbH, Honeywell International, Inc., Siemens Building Technologies

CONSIDERED IN THE REPORT
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026

REGIONS COVERED:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

ASPECTS COVERED IN THE REPORT
• Market Size by Value for the period (2015-2026F)
• Market Share by Product Type (Fire Detection, Fire Alarm, Fire Suppression)
• Market Share by Application (Commercial, Industrial, Residential)
• Market Share by Region
• Market Share by Country

Table of Contents

1 Executive Summary
2 Report Methodology
3 Market Structure
3.1 Market Considerate
3.2 Market Definition
4 Global Fire Safety Equipment Market Outlook
4.1 Market Size by Value
4.2 Market Share
4.2.1 By Product Type
4.2.2 By Application
4.2.3 By Region
4.2.4 By Country
4.2.5 By Company
5 North America Fire Safety Equipment Market Outlook
5.1 Market Size by Value
5.2 Market Share
5.2.1 By Product Type
5.2.2 By Application
5.2.3 By Country
5.3 US Fire Safety Equipment Market Size
5.3.1 US Fire Safety Equipment Market Share by Application
5.4 Canada Fire Safety Equipment Market Size
5.4.1 Canada Fire Safety Equipment Market Share by Application
5.5 Mexico Fire Safety Equipment Market Size
5.5.1 Mexico Fire Safety Equipment Market Share by Application
…continue

To Access Complete Report: https://www.bonafideresearch.com/product/211069971/global-fire-safety-equipment-market

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This release was published on openPR.