Fire Protection Systems Market Global Industry Research Report 2017 of 205 pages added by reports and reports explores Global Fire Protection Systems Market Size, Share, Manufacturers, Statistics, and Opportunities Forecast to 2023. Global Fire Protection Systems Market set to hit $ 93.46 billion at a CAGR of 9.7% by 2023.
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Fire Protection Systems: Approved devices, equip- ment and systems or combinations of systems used to detect a fire, activate an alarm, extinguish or control a fire, control or manage smoke and products of a fire or any combination thereof.
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Global Fire Protection Systems Company Market provides comprehensive information on Fire Protection Systems Market By: Technology (Active, Passive), Product (Fire Detection (Sensors & Detectors, RFID), Fire Suppression (Fire Sprinklers, Fire Extinguishers), Fire Analysis, Fire Response), Service, Vertical.
Growth of Fire Protection Systems Market is boosted by factors such as increased fire-related expenditure of various enterprises, along with the rising trend of automation in commercial buildings and smart homes. In addition, improvement in the existing government regulations and mandates regarding fire protection systems are driving this market.
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Factors restraining the growth of the FPS market include the high implementation and maintenance costs of fire protection systems, and lack of integrity in system interfaces.
The breakup of the profiles of primary participants has been given below.
- By Company Type: Tier 1—42%, Tier 2—37%, and Tier 3—21%
- By Designation: C-Level Executives—30%, Directors—33%, and Others—37%
- By Region: North America—45%, Europe—26%, APAC—15%, and RoW—14%
“Robust demand for fire suppression systems during the forecast period”
Several types of products for sensing, detecting, and suppressing the fire are available in the market, including wet-pipe sprinkler systems, dry-pipe sprinkler systems, pre-action sprinkler systems, and deluge sprinkler systems. The suppression systems also include various extinguishers such asCO2, dry chemical, wet chemical, and water-based chemicals.
The robust growth in infrastructure, utilities, and facilities is bringing in the need for a higher adoption of suppression systems across the globe.
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“North America and Europe are the major markets for fire protection systems”
North America held the largest share of the fire protection systems market in 2016. Europe is one of the potential markets for fire protection systems globally.
The market in Europe is expected to grow at the highest CAGR during the forecast period. The fire protection and safety regulations in this region are highly mandated.
Therefore, most of the building structures are fixed with fire protection systems. The high growth of fire protection systems in Europe can be attributed to the stringent government mandate on installation of smoke detectors or smoke alarms in homes of European countries such as the UK, France, and Germany.
The report provides a picture of the fire protection systems market. It aims at estimating the market size and future growth potential of this market across different segments such as product, service, vertical and geography.
Furthermore, the report also includes the industry trends, market dynamics, regulation analysis, and competitive analysis of the key players in the market, along with their company profiles, vendor DIVE matrix, and recent developments.
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