Fire Protection System Market

According to Stratistics MRC, the Global Fire Protection System Market is accounted for $74.51 million in 2022 and is expected to reach $125.65 million by 2028 growing at a CAGR of 9.1% during the forecast period. The building's established standard equipment for spotting fire outbreaks is known as the fire protection system. A smoke detector, flame detectors, and other devices are used by the system to find and put out the fire. Real-time data is detected, controlled, and tracked by the fire protection systems. The market for fire protection systems is going to be driven by the incorporation of cutting-edge technology like artificial intelligence, the Internet of Things, and smart sensors.

According to National Fire Protection Association (NFPA), across the country, fire departments react to over 350,000 house structure fires each year, causing almost USD 7 billion in direct damage. Over 2,500 civilian fire deaths and 12,300 civilian fire injuries occur each year, which is far more devastating than property loss. According to NFPA, over 50,000 fires start each year as a consequence of flammable gas, while over 160,000 fires originate as a result of flammable or combustible liquid. In total, volatile and combustible liquids and gases result in about USD 2.1 billion in property damage and over 600 fatalities each year.



Market Dynamics:

Driver:

Strict government regulations pertaining to fire safety

Federal custodians, tenants, owners of private-sector buildings, and regional fire protection organisations all contribute to fire safety. The goals of policies and laws, which vary from region to region, are to protect property and human life. The Australian Building Codes Board (ABCB), which is one example of this, is in charge of overseeing matters pertaining to safety, health, amenity, accessibility, and sustainability in buildings. For particular structures such manufacturing plants, educational facilities, schools, and public sites, this association offers fire safety inspection and advisory services. The majority of industrialised economies' governments offer financial assistance for the installation and upkeep of smoke detectors and other fire safety devices in residential and commercial structures.

Restraint:

Issues of false alarms and detection failures

Smoke detectors and other fire detection devices have the problem of false alarms. For instance, a smoke detector placed in or close to a kitchen may sound a bothersome alarm when using kitchen appliances as usual. A heat detector is made to sound when the heat on their sensors rises at a certain rate or reaches a predetermined level but do not detect combustion particles. Such elements may prevent fire alarm systems from warning people.

Opportunity:

Growing adoption of water mist systems

The foam-based fire protection system is a collection of aqueous solution-derived air-filled bubbles. Compared to other flammable liquids, it is less dense. In order to avoid fires by excluding air and cooling the fuel, this foam-based technology is primarily utilised to create a cohesive floating blanket atop flammable and combustible liquids. Foam-based fire detection systems can be utilised in processing industrial locations, such as refineries, oil & gas fields, and commercial areas, as a fire control, prevention, or extinguishing agent. This system's foaming component is easily biodegradable in both natural settings and sewage treatment facilities. From an installation and maintenance perspective, foam-based suppression systems are more economical. As a result, their demand is expanding so quickly on the market.

Threat:

Lack of integration and configuration in fire protection solutions

When numerous solutions are employed in a control mechanism, integrating user interfaces is a major difficulty for the market for fire protection systems. Integrating fire prevention systems directly into a centralised building control system will allow for the information to be collected from one location and the automatic implementation of the necessary follow-up regulatory actions in the event of an emergency. By connecting these systems, a user can access functions like remote notification, trending, or maintenance management that would not be immediately accessible through a fire prevention system or monitor the condition of numerous devices from a single location. The integration and configuration of the entire system, however, become challenging as a result of the system's complexity and the growing number of components used.

Covid-19 Impact

The market scenarios had been modified by the COVID 19 outbreak. In the midst of the COVID-19 pandemic, promising signs are emerging, and the country's focus is gradually shifting towards helping businesses recover and kick start the economy. In numerous regions of the nation, fire sprinkler contractors never stopped putting in long hours. Nevertheless, as sites shuttered and financially strapped facilities prioritised other budgets, jobs elsewhere dried up. The fire sprinkler industry in the US was booming before COVID-19. In most significant metro areas, the sprinkler market expanded by double digits, with an overall growth of more than 6%.

The installation and design services segment is expected to be the largest during the forecast period

The installation and design services segment is estimated to have a lucrative growth. Installation and design services" refers to the practise of contracting out the design, development, updates, documentation, and installation operations of fire protection systems. Fire Protection Design must be appropriate, and a Fire Protection System must then be implemented, tested, certified, and maintained for a building to be in compliance with the Building Code. Also, this segment's income is growing as a result of the increasing demand for installation and design services due to the subject-matter expertise offered by suppliers.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to having proper fire prevention systems in commercial settings is essential for the ongoing health and safety of both consumers and employees. A fire prevention system will protect escape routes, allow people to exit the building securely, and help fire fighters enter the building to put out the fire. Also, it prevents damage to equipment and property while lowering the likelihood of an explosion or ceiling collapse. Additionally, this market's revenue growth is being driven by an increase in the amount of money businesses are spending to build fire protection systems in order to prevent property damage and human fatalities and to safeguard infrastructure.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rising construction activity brought on by growing urbanisation. The Japanese government is putting more effort into raising public understanding of fire safety. The nation has implemented numerous programmes relating to fire safety. In Japan, fire extinguisher and sprinkler use is widespread, and workplaces and institutions offer instruction on its use. In Japan, there is a sizable market for fire extinguishers, sprinklers, and fire alarms, and it is anticipated that this market will continue to expand in the years to come.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the growing need for intelligent homes and smart buildings that provide the highest level of safety. Manufacturers of fire prevention systems, like Raytheon Technologies Corporation, GENTEX CORPORATION, and Honeywell International Inc., are also widely distributed in North America. Via marketing campaigns, these businesses actively promote the use of fire protection devices.



Key players in the market

Some of the key players profiled in the Fire Protection System Market include GENTEX CORPORATION, Raytheon Technologies Corporation, Siemens, Honeywell International, Inc., Johnson Controls, Halma plc, Robert Bosch GmbH, Eaton, Carrier, Hochiki Europe, LLC., Minimax GmbH & Co. KG, Securiton AG, Ems Security Group Ltd, Electro Detectors Ltd, Sterling Safety Systems, Wagner Group Gmbh, Apollo Fire Detectors Limited, Napco Security technologies, Inc. and Libelium Comunicaciones Distribuidas S.L.

Key Developments:

In June 2022, Kidde HomeSafe integrated smart detection system was launched. This system, provides complete home-detection solution which includes detection of carbon monoxide, smoke, water leaks and frozen pipes.

In June 2022, Siemens Korea Smart Infrastructure launched the SRF 2.0 intelligent fire detection system, which has the auto self-diagnosis feature and provides high reliability & stable performance.

In October 2020, Honeywell International Inc. launched the first tools from its new suite of Connected Life Safety Services (CLSS)— its first all-in-one cloud platform for fire safety systems.

Products Covered:
• Fire Detection
• Fire Suppression
• Fire Sprinkler
• Fire Response
• Fire Analysis

Types Covered:
• Passive Fire Protection Syste
• Active Fire Protection System

Services Covered:
• Maintenance Services
• Engineering Services
• Installation and Design Services
• Managed Services
• Other Services

End Users Covered:
• Industrial
• Residential
• Commercial
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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 2020, 2021, 2022, 2025, and 2028
- 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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances