Press release
Fire Protection System Market Size, Share, Growth, Trends, Analysis to 2021: Research Nester
The European fire protection system market was valued at USD 9.12 Billion in the year 2015 and it will grow at 14.4% annually to reach USD 20.2 Billion by the end of the year 2021. The Europe fire protection system market accounted 28.52% of the global fire protection system market in the year 2015.
In 2015, the Asia-Pacific fire protection system market was valued at USD 8.93 Billion and is growing at 21.4% annually to reach USD 22.78 Billion by 2021.The Asia-Pacific fire protection system market contributes 22.21% of the global fire protection system market and it is projected that it will reach 32.15% by 2021.
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Fire protection systems assists in controlling and putting-off fire, preventing destruction of property and people. These systems work by reducing oxygen content of fire affected area and promote supply of nitrogen in that area to build a "fire safe" zone.
The global fire protection system market is anticipated to expand from USD 48.06 Billion in 2015 to USD 98.11 Billion by 2021, registering a compound annual growth (CAGR) of 10.09% over the period of 2015-2021.
Market Segmentation
By Technology
On the basis of technology, Global fire protection system market is segment into:
Active Fire Protection Systems
Passive Fire Protection Systems
By Product
On the basis of product, Global fire protection system market can be divided into:
Fire Management Systems
Fire Response Systemss
Fire Detection Systems
Fire Analysis Software
Other
By Service
Based on service, Global fire protection system market can be segregated as:
Engineering Services
Managed Services
Installation & Design Services
Maintenance Services
Other Services
By Vertical
On the basis of application, Global fire protection system market is segment as follows:
Oil, Gas, & Mining
Energy & Power
Transportation & Logistics
Residential
Commercial
Government
Manufacturing
Other Verticals
By Region
On the basis of region, Global fire protection system market is segment as follows:
North America
Latin America
Western And Eastern Europe
Asia-Pacific
Row (Rest Of World)
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Growth Drivers and challenges
Augmentation in expenditure by enterprises for fire protection, stringent government policies and regulations, political pressure to condense the losses from fire and rise in fire threats are the major growth drivers for the global fire protection system market over the forecasted period i.e. 2015-2021.
High maintenance cost of fire protection systems and special skills required to manage the fire protection system are some factors which restraints the growth of global fire protection system in the upcoming years.
Research Nester is a global market research and consulting firm helping organizations, private entities, governments undertaking, non-legislative associations and non-profit organizations. With our decades of experience in the market research, we help our clients to gain a competitive edge over other players. Thus, helping them making strategic yet dynamic decisions for the future investments.
Ajay Daniel
Email: ajay.daniel@researchnester.com
1820 Avenue M, Suite# 1113,
Brooklyn, New York 11230
U.S. +1 646 586 9123
U.K. +44 203 608 5919
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