Press release
Fire Protection System Market is estimated to Reach US$ 83.5 Bn by the end of 2026
Fire Protection System Market 2022
The global FPS (Fire Protection Systems) market is estimated to be valued at US$ 41,735.1 Mn by the end of 2018 and is anticipated to reach US$ 83.5 Bn by the end of 2026 while expanding at a CAGR of 9.1% over the forecast period.
Logistics and warehousing solutions witnessing substantial demand from the E-commerce industry that involves the integration of material handling, stocking, packaging, transportation, inventory management, supply chain management, procurement and shipping security aspects, is triggering the sales of fire protection systems, at a global level.
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"The E-commerce is far from saturation, considering that even mature markets like Japan are making efforts to create a sizeable share among total retail sales in 2019, creating significant demand for large-scale warehouse spaces. Moreover, as prominent players compete to solidify their market standing in the E-commerce landscape, regional mergers and acquisition activities will continue. In addition, encouraging demand growth from warehouse constructions ahead of World Expo- 2020, is anticipated", explained a senior research analyst of the company.
Key Companies-
• Consilium AB
• DESAUTEL SAS
• HALMA PLC
• Hochiki Corporation
• Johnson Controls International Plc
• United Technologies Corporation
• Yamato Protec Corporation
• Robert Bosch GmbH
• Siemens AG
• Honeywell International, Inc.
• Swastik Synergy Engineering Private Limited
• Gentex Corporation
• NAFFCO FZCO
• Solas Fire Safety Equipment (P) Ltd.
• Gunnebo AB
• Others.
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In the wheel of fortune, the PMR report on fire protection systems has placed product type, end-use, and regional segments, in different growth quadrants-ranging from slow-to high growth quadrant.
Significant demand for fire suppression systems spotted: In terms of product type, while fire detection systems occupy a position in the steady growth quadrant, fire extinguishers and fire response systems are projected to represent moderate growth through the forecast period. Fire suppression systems, on the other hand, lies in the high growth quadrant, arising from increasing safety standards.
The segment analysis is indicative of a highest market share-at nearly 52 percent-held by fire suppression systems.
Industrial deployments to fetch maximum revenue: On the basis of end-use, fire protection systems will witnessed increased adoption in the industrial sector, lying in the high growth quadrant. While commercial sector showcases moderate rate through the assessment timeline, adoption of fire protection systems in the residential sector lies in the steady growth quadrant. An-depth analysis of the end-use segment, indicates approximately 38 percent market share held by the industrial sector.
Industries such as manufacturing, Oil & Gas, Mining, and marine are projected to extensively employ fire protection systems given the stringency in government norms, aimed at improving the safety standards.
Emerging economies hold notable market potential: South East Asia & Pacific and China-both holding a position in the high growth quadrant are identified as the most lucrative revenue pockets in the global fire protection systems market. With this region, India is projected to be the most lucrative country, in the coming years, considering burgeoning manufacturing sector in the region.
Apart from North America, which holds a position in the steady growth quadrant, Latin America, Europe, and Middle East and Asia (MEA) are represented as moderately growing regions, in the global fire protection systems market. Increasing greenfield investments in MEA is projected to fuel the demand of safety equipment such as fire protection systems. North America and Europe are also expected to pump significant revenue into the global fire protection systems market, owing to stringent safety and security solutions.
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Key Questions Answered in This Report -
• Which is the largest regional market for Fire Protection System?
• What are the upcoming trends of Fire Protection System Market in the world?
• What are the key driving factors for the growth of the Fire Protection System Market?
• What are the top players operating in the Fire Protection System Market?
• What are the key regions in the global Fire Protection System market?
• Who are the key players/companies in the global Fire Protection System market?
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