The Global Fire Protection System Market accounted for USD 50.85 billion in 2016 growing at a CAGR of 10.1% during the forecast period of 2017 to 2024.
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Global Fire Protection System Market, By Geography; Product, Technology, Service, System, Vertical – Industry Trends and Forecast to 2024
The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Fire protection system includes the measures taken to prevent fire from becoming critical, decrease the influence of unrestrained fire and save lives and property. It has its wide application in energy and power, oil, gas, and mining, transportation and logistics and others.
Enhanced technology may act as a major factor in the growth of fire protection system.
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On the other side, lack of integrity in system interfaces may hamper the market.
Major market drivers & restraints:
- Rise in technological advancements and innovations in equipment
- Inflexible regulatory norms for fire protection systems
- Increasing trend of automation in commercial buildings and smart homes
- Increased fire-related expenditure of various enterprises, and rise in deaths and loss of property
- Lack of reliability in system interfaces
- High application and maintenance cost
Major Market Competitors
Some of the major players of the global fire protection system market are Amerex Corporation, Ceasefire Industries Pvt. Ltd, Eaton Corporation PLC, Emerson Electric Co., EMS Security Group Ltd, Fike Corporation, Firefly AB, Gentex Corporation, Halma PLC, Hochiki Corporation, Honeywell International Inc., Johnson Controls, Micropack Engineering Ltd, Minimax Viking GmbH, MSA Safety Inc., National Fire Fighting Manufacturing Company (Naffco), Nitin Fire Protection Industries Ltd., Panasonic Corporation, Robert Bosch GmbH, Schneider Electric, Siemens AG, Sterling Safety Systems, Tyco International PLC, United Technologies, VT Mak, and others.
The global fire protection system market is segmented on the basis of product into fire detection, fire suppression, fire analysis, fire response, and others. The sensors and detectors segment are categorized into flame detectors, smoke detectors by product type, smoke detectors by power source, heat detectors, and others.
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On the basis of technology the global fire protection system market is further segmented into coating, bulkheads, sealant, and others.
On the basis of service, the global fire protection system market is further segmented into engineering services, installation and design services, maintenance services, managed services, and others.
On the basis of system, the global fire protection system market is categorized into detection systems, alarm systems, suppression systems, and others.
On the basis of vertical, the global fire protection system market is further categorized into BFSI, hospitality & travel, healthcare, transportation & logistics, manufacturing, retail, mining and oil & gas, and others.
On the basis of geography, the global fire protection system market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
Company Share Analysis
The report for the global fire protection system market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others.
The report also measures technology life line curve and market time line to analyze and do more affective investments.
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