The size of the fire alarm and detection market was estimated at USD 32.4 billion in 2022 and is projected to increase at a compound annual growth rate (CAGR) of 7.3% to USD 56.93 billion by 2030.
The need for fire alarms and detection will increase due to the increasing installation of fire safety systems in educational facilities and the rising awareness of fire detection among the residential and commercial sectors. It is anticipated that advancements in technology, increased public awareness of fire safety, growing urbanization, and industrialization will drive the market for fire alarm and detection systems. Furthermore, the business climate is positively impacted by the growth of the industrial and commercial sectors as well as by greater public knowledge of fire safety.
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The demand for better fire safety systems in fire-prone industrial areas, such as those found in the automotive, power and utility, mining, petrochemical, and oil and gas exploration industries, will be the main driver of market expansion. With the COVID-19 pandemic, fire safety has become a top priority in the recently developed work-from-home model. In several regions of the world, businesses are gradually resuming operations, therefore building managers or facility owners are safeguarding and maintaining fire protection measures.
The reevaluation of fire safety rules will present growth opportunities for market players during the coming years. There was a slight uptick in the need for fire safety products in 2021. In this sector, however, suppliers saw only minor challenges in acknowledging and fulfilling orders due to disruptions in the supply chain. Over the coming years, there will be an increase in demand for electrical, heating, and kitchen fire safety. The global market will probably have returned to pre-COVID levels by the end of 2021. After a minor hiccup due to delays in the supply chain, the market is already rebounding.
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The growing use of linked and smart technology is one notable trend that has created a need for providers of integrated solutions. These vendors specialize in cutting-edge detection and alarm systems that work in perfect harmony with current commercial or smart home automation setups. They also emphasize energy- and environmentally-friendly products, which has led to an increase in the number of vendors providing sustainable alarm and detection systems. These suppliers place a high priority on using low-power technology, integrating renewable energy sources, and putting their products through recycling initiatives.
Top Key Players of Fire Alarm and Detection Market:
Eaton
GENTEX CORPORATION
Halmaple
HOCHIKI Corporation.
Honeywell International, Inc.
Johnson Controls
Napco Security Technologies, Inc.
NITTAN Corporation
Robert Bosch GmbH
Siemens
Space Age Electronics, Inc.
United Technologies Corp.
Market Segmentation:
By Product Type
Fire Detectors
Fire Alarms
By Detectors Type
Flame Detectors
Smoke Detectors
Heat Detectors
By Alarm Type
Audible Alarms
Visual Alarms
Manual Call-points Alarms
By Application
Commercial
Industrial
Residential
By Region
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
Key Benefits of the Report:
This study presents the analytical depiction of the Fire Alarm and Detection industry along with the current trends and future estimations to determine the imminent investment pockets. The report presents information related to key drivers, restraints, and opportunities along with challenges of Fire Alarm and Detection market. The Fire Alarm and Detection market is quantitatively analyzed to highlight the growth scenario of the Fire Alarm and Detection market. The report provides a detailed Fire Alarm and Detection market analysis based on competitive intensity and the competition that will take shape in coming years. Table of Content
Introduction Research Methodology Market Dynamics Impact Analysis Value Chain Analysis Porter’s 5 forces model PEST Analysis Fire Alarm and DetectionMarket Segmentation, By Type Fire Alarm and DetectionMarket Segmentation, By Solution Fire Alarm and DetectionMarket Segmentation, By Mode of Transport Fire Alarm and DetectionMarket Segmentation, By Tracking Technology Fire Alarm and DetectionMarket Segmentation, By Check-in Service Type Regional Analysis Company Profile Competitive Landscape USE Cases and Best Practices Conclusion