Press release
2025-2034 Fire Protection System Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Fire Protection System
What Is the Expected CAGR for the Fire Protection System Market Through 2025?
In recent years, we've seen a significant increase in the size of the fire protection system market. Predictions have it expanding from a value of $81.26 billion in 2024, to reach $86.46 billion in the following year, at a compound annual growth rate (CAGR) of 6.4%. This substantial growth in the past can be credited to a surge in building construction, strict safety laws and guidelines, increased industrialization and urbanization, necessities presented by the insurance industry, and a greater level of public education and awareness.
What's the Projected Size of the Global Fire Protection System Market by 2029?
Robust growth can be anticipated in the fire protection system market in the forthcoming years. It is predicted to escalate to a value of $121.89 billion by 2029, with a compound annual growth rate (CAGR) of 9.0%. Elements contributing to this surge during the forecast period comprise increased development of urban infrastructure, global emphasis on human safety, the ongoing expansion of commercial and residential constructions, effects of climate change, and modifications in insurance regulations. Noteworthy trends in the projection period encompass the adoption of video fire detection systems, focus on analyzing human behavior during fire evacuation, adherence to more stringent fire safety norms, utilization of drones in fire monitoring, and the expanding market for Fire Protection as a Service (FPaaS).
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Top Growth Drivers in the Fire Protection System Industry: What's Accelerating the Market?
Expected growth in the fire protection system market can be attributed to escalating losses to human life and property caused by fire outbreaks. Property loss is characterized by substantial monetary or material damage to physical assets. This usually pertains to the destruction or loss of tangible commodities, structures, or assets due to various occurrences or risks including fires, burglaries, natural catastrophes, mishaps, or defacement. A fire protection system, incorporating heat sensors and smoke detectors, is designed to identify fires at an early stage, potentially preventing property damage. For example, a report by the UK Government in February 2023 cited an increase in fire-related fatalities in England from 249 to 276 in the year ending September 2022. Of these fatalities, 99 occurred in the last quarter of 2021. Also, in England, the fire and rescue services (FRSs) responded to 620,758 incidents in the year ending September 2022, marking a 16% rise from the preceding year (537,423). Out of these, 185,437 were fires, witnessing a 28% surge from the 145,313 fires reported the previous year. Hence, the continual rise in human and property loss due to fire outbreaks is fuelling the fire protection system market.
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What Are the Key Trends Driving Fire Protection System Market Growth?
The fire protection system market is increasingly being transformed by innovative technologies. In order to solidify their market position, key players are concentrating on developing groundbreaking products that are powered by advanced technology. For example, in August 2022, US-based engineering and technology firm, Honeywell International Inc., unveiled the Morley MAx fire detection and alarm system, a move poised to bolster both occupant and building safety. The intelligent fire alarm control panel is compact yet powerful and is easy to install, commission, and maintain. It possesses numerous advanced features that are beneficial to both installers and end-users. Key among its features is the state-of-the-art 7-inch touchscreen panel, which provides an intuitive and ergonomic user interface. The panel displays color-coded icons and events. In addition, the inclusion of modern features such as multi-Boolean logic and the CANBus protocol across panels facilitates swift communication.
What Are the Main Segments in the Fire Protection System Market?
The fire protection systemmarket covered in this report is segmented -
1) By Type: Active Fire Protection Systems, Passive Fire Protection Systems
2) By Services: Managed Service, Installation And Design Service, Maintenance Service, Other Services
3) By End-User: Commercial, Industrial, Governmental, Institutional, Other End-Users
Subsegments:
1) By Active Fire Protection Systems: Fire Sprinkler Systems, Fire Extinguishing Systems (e.g., foam, CO2), Fire Alarm Systems, Smoke Control Systems, Fire Suppression Systems
2) By Passive Fire Protection Systems: Fire-Resistant Walls And Partitions, Fire Doors And Windows, Fire-Stop Systems, Intumescent Coatings, Fire-Resistant Materials And Insulation
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Which Top Companies are Driving Growth in the Fire Protection System Market?
Major companies operating in the fire protection system market include Honeywell International Inc., Siemens AG, Halma plc, Robert Bosch Gmbh, Johnson Controls, Ems Security Group Ltd., Electro Detectors Ltd., Sterling Safety Systems, Wagner Group Gmbh, Hochiki Corporation, Apollo Fire Detectors Limited, Eurofyre Ltd., Detectomat Systems GmbH, Ceasefire Industries Pvt. Ltd., Bosch Security Systems GmbH, Gentex Corporation, Hitachi Ltd., Argus Fire Protection Company Ltd., Teledyne Technologies Incorporated, Viking Group Inc., Victaulic Company, Fike Corporation, Securiton AG, Carrier Global Corporation, Eaton Corporation plc, API Group Corp., Encore Fire Protection, Orbis Technology, Global Fire Protection Group
Which Regions Will Dominate the Fire Protection System Market Through 2029?
Asia-Pacific was the largest region in the fire protection system market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global fire protection system market report during the forecast period. The regions covered in the fire protection system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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