10.5% CAGR for Fire Protection Systems Market Share to hit USD 116.51 Bn by 2025

Fire Protection Systems Market is experiencing a steady growth in the current scenario and is anticipated to rise in the coming years. The market for fire protection system consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced technology to the customers. The aircraft manufacturers on the other hand, are procuring the advanced technologies from the aircraft component manufacturers to deliver passengers with additional value-added services and thus, empower the passenger with a superior travel experience. This factor is helping the market for fire protection system to surge over the period.

Fire Protection Systems Market to 2025 - Global Analysis and Forecasts by Technology (Active and Passive); Product Type (Detectors, Sprinklers, Extinguishers and Alarm); and End Users (Educational Institutions, Consumer Goods & Retail, Energy & Power, Governmental, Healthcare, Manufacturing, Oil & Gas, Mining and Others)

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Market Developments:

Few of the recent strategies by some of the players in fire protection system market landscape are listed below-

2018:The Southern Branch of National Palace Museum, situated in (Taiwan), installed Honeywell's Notifier fire alarm system, to provide integrate system integration with in minimum operational costs and facilitates customization as per the museum's future needs. Notifier system is paired with another system to help in evacuations by giving signal through a different sound.
2018:Siemens AG is working with Skanska Walsh under a joint venture to install Siemens Intelligent Infrastructure Solution into the new central terminal complex at LaGuardia International Airport (US). The intelligent solution comprises of fire and life safety system and integrated building automation.
2018:Viking announced the plans for new R&D centers and headquarter in Caledonia Township, West Michigan. This expansion will create high-tech training skill for supporting the organization's aim for maintaining its position as a leader in fire protection services.

Global Fire Protection System Market - Company Profiles

- Honeywell International, Inc.
- Johnson Controls, Inc.
- Robert Bosch GmBH
- Siemens AG
- United Technologies
- Hochiki Corporation
- Minimax Viking GmbH
- Gentex Corporation
- VFP Fire Systems, Inc.
- Halma PLC

Need for a safe and efficient fire protection system inside buildings owing to increasing urbanization

The 21st century has witnessed huge influx of population in the urban cities of developed and developing economies in search of better life. Higher standards of living, higher job opportunities, access to modern amenities and services are the few major factors that have contributed in the migration of rural population to the urban areas around the world. Developing economies witnessed a steady growth in the post-recession era and thus there was rise in the disposable incomes by consumers. As per the data from Worldbank, currently 54% of the entire globe's population resides in the urban areas while the remaining percentages are still residing in the rural areas. Hence, close to 4 billion of the world's population houses in the urban areas piling up pressure on the infrastructures in the urban areas. As a result, density of population in these areas has reached unprecedented levels.

Thus, the need for a robust fire protection system in order to be prepared to handle any critical situation and avoid fire losses is evident. Thus, the demand for a safer, efficient and quicker response fire protection system have been driving the fire protection system market in the recent times.

Key findings of the study:

- North America is anticipated to account the largest fire protection system market share.
- Based on type, the active fire protection systems segment is projected to dominate the fire protection system market.
- Fire alarm system segment held the largest position by product.
- Commercial segment dominated the market by end use industry.

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