Fire Safety Equipment Market Size Report 2022-2027: Industry Share, Growth, Trends and Forecast

The latest research study "Fire Safety Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global fire safety equipment market size reached US$ 47.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 70.88 Billion by 2027 exhibiting a growth rate (CAGR) of 6.60% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of
COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Fire safety equipment represent devices that offer protection to users in fire accidents. They can be categorized into detectors, alarms, extinguishers, sprinklers, fire blankets, respirators, communication instruments, etc. These fire safety equipment and solutions can be operated conveniently by both trained firefighters and unskilled individuals, etc.
They aid in extinguishing fires and preventing flames from spreading rapidly. Consequently, fire safety equipment and machinery find extensive applications across several commercial, residential, and industrial establishments, such as homes, hospitals, manufacturing factories, commercial buildings, educational institutes, etc.

Fire Safety Equipment Market Trends and Drivers:

The increasing incidences of fire-related accidents leading to casualties and substantial loss of property and the implementation of various stringent fire hazard safety regulations by the government bodies across risk-prone industries, including oil and gas, mining, construction, etc., are primarily driving the fire safety equipment market.

Moreover, the growing product utilization in passenger and heavy-duty vehicles to ensure safe evacuation time is acting as another significant growth-inducing factor. Additionally, the introduction of advanced fire safety systems customized with the internet of things (IoT), artificial intelligence (AI), and wireless sensors that help in sending real-time notifications to the fire departments, avoiding false alarms, monitoring ambient temperatures, etc., is also positively influencing the market growth.

Besides this, the emerging trend of smart buildings and the inflating investments in research and development (R&D) activities to manufacture systems that can withstand fire for a longer duration are anticipated to fuel the fire safety equipment market in the coming years.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Solution:
• Detection
o Detectors
o Alarms
• Suppression
o Extinguishers
o Sprinklers

Breakup by Application:
• Commercial
• Industrial
• Residential

By Geography:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

List of Major Key Players:

The major players in the market are Carrier Global Corporation, Eaton Corporation plc, Gentex Corporation, Halma plc, HOCHIKI Corporation, Honeywell International Inc., Johnson Controls International PLC, Napco Security Technologies Inc., Nittan Co. Ltd. (Secom Co. Ltd.), Robert Bosch GmbH, Siemens AG and Space Age Electronics Inc

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