Fire Alarm And Detection - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Fire Alarm and Detection Market is accounted for $39.95 billion in 2019 and is expected to reach $88.17 billion by 2027 growing at a CAGR of 10.4% during the forecast period. Increasing awareness among individuals regarding fire protection and safety systems is the major factor propelling the market growth. However, high installation and implementation costs are hampering the market growth.
The fire alarm and detection systems are used for recognizing the fire incidents at the initial stage and increase alerts so that there are fewer chances of compensations and the people can safely evacuate before the situation is out of control. These systems are specially designed for detecting any type of gas leak, smoke, heat, and fire which can cause a big accident.
Based on the product, the fire detectors segment is likely to have a huge demand due to particularly designed for identifying any type of fire, gas leak, burn, and heat, which can cause a big accident. The severe guidelines by several countries concerning the installation of the smoke detectors for the early detection of fire accidents is one of the major factors pouring the segment.
By geography, Asia Pacific is estimated to have a lucrative growth due to the high level manufacturing of fire detection products and the presence of sensor manufacturing companies. The development in this region is also driven by industrial activities and rapid urbanization in emerging nations such as China, Japan, and India. Hence, the steady increase the residential and commercial construction activities in the region are expected to drive the market.
Some of the key players profiled in the Fire Alarm and Detection Market include Siemens Building Technologies, Space Age Electronics, United Technologies Corporation, Eaton, Gentex Corporation, Halmaplc, Hochiki Corporation, Honeywell International Inc., Johnson Controls, Napco Security Technolgies, Inc., Nittan Company, Ltd. and Bosch GmbH.
Detection Technologies Covered:
• Flame Detectors
• Heat Detectors
• Smoke Detectors
Alarm Technologies Covered:
• Conventional Systems
• Manual Call-points
• Visual Alarms
• Addressable Systems
• Audible Alarms
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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