Press release
Fire Protection System Market is anticipated to reach US$ US$ 83.5 Bn by the end of 2026 at a CAGR of 9.1%
Fire Protection System Market 2022 to 2026
The market for FPS (Fire Protection Systems) is expected to be worth US$ 41.7 billion by the end of 2018 and US$ 83.5 billion by the end of 2026, growing at a CAGR of 9.1% during the forecast period. Between 2018 and 2026, it is predicted that the worldwide FPS (Fire Protection Systems) market will provide additional opportunity worth US$41.7 billion.
The Fire Protection System Market has grown exponentially in recent years with the rapid advancement of technology and greater focus on safety. Fire protection systems are used to detect, control, and extinguish fires from a variety of sources, including residential and commercial buildings, industrial sites, and transportation fleets. Fire protection systems are designed to reduce potential damage and destruction from fires by providing timely warning of their presence as well as quick response times for firefighters.
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The Fire Protection System Market has grown exponentially in recent years with the rapid advancement of technology and greater focus on safety. Fire protection systems are used to detect, control, and extinguish fires from a variety of sources, including residential and commercial buildings, industrial sites, and transportation fleets. Fire protection systems are designed to reduce potential damage and destruction from fires by providing timely warning of their presence as well as quick response times for firefighters.
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.
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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FPS (Fire Protection Systems) Market Segmentations-
Fire Protection Systems Market by Product Type
• Fire Detection Systems ( Flame Detectors, Smoke Detectors)
• Fire Extinguishers ( Water Extinguishers, Foam Extinguishers, Dry Chemical Extinguishers, CO2 Extinguishers)
• Fire Suppression Systems ( Water Fire Suppression Systems, Gaseous/Clean Agent Fire Suppression Systems, Foam Fire Suppression Systems, Powder Fire Suppression Systems)
• Fire Response Systems ( Emergency Lighting, Fire Alarm Devices)
Fire Protection Systems Market by Battery Type
• Residential
• Commercial ( Government/Corporate Offices, Hotels & Restaurants, Healthcare, Retail)
• Industrial ( Energy & Power Generation, Oil & gas, Mining, Chemical & Pharmaceuticals, Other Manufacturing, Automotive & Transportation)
Fire Protection Systems Market by Region
• North America
• Latin America
• Europe
• South East Asia & Pacific
• Middle East & Africa
• China
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Factors such as increased investments to upgrade existing fire safety infrastructure, stringent government regulations regarding public safety, and technological advancements in fire suppression systems are driving the Fire Protection System Market growth globally. The Fire Protection System Market is further affected by rising natural disasters such as floods, earthquakes, hurricanes, wildfires, volcanic eruptions that can cause massive destruction if there is a lack of adequate fire safety measures.
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