Fire Safety Equipment Market

Fire Safety Equipment Market was calculated at USD 40 Billion in 2019 and witnessed to expand at 6.2% CAGR over the forecast period.

Fire safety equipment is a term used to refer to the various types of equipment that are specially designed to deal with the different classes of fire in a range of environments. The various types of fire safety equipment are fire extinguishers, fire blankets, signage, sprinklers, first aid kits, and other equipment.

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The rapid urbanization and construction of numerous residential, commercial and public infrastructure are the major factors that are responsible for the growth of the fire safety equipment market. Moreover, the rising concerns regarding the safety of the consumers as well as the implementation of strict fire safety regulations by the government and local bodies, are further energizing the demand of the market in the coming years. With the continuous expansion in the industrial sector, there has been an increase in the demand for different fire safety equipment for immediate application. This is presenting innumerable growth opportunities for the fire safety equipment market growth. In addition to this, the increasing number of fire stations and staff to serve the growing population with fire safety gear, extinguishers, and other equipment, followed by the rising number of fire stations, will further enhance the demand of the market.

The growing awareness among people regarding personal fire safety is playing a major role in the strong demand of the market. On the other hand, the high initial investment cost of the installation of these systems and the costly maintenance and replacement services will hamper the market’s growth.

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Based on the solution, the detection devices segment is projected to witness a higher CAGR during the forecast period owing to the continuous technological advancements in detection devices such as wireless detection and wireless networking, which is also helping in decreasing the installation costs. Furthermore, the growing number of initiatives launched by the governments to support the installation of detection equipment will further energize the demand of the segment. For example, the Building Code of Australia, USA, and National Fire Protection Association have mandated the installation of the detection equipment to improve the safety level.

On the basis of the fire detection product, the detectors segment is expected to dominate the fire safety equipment market over the next six years. The strict juridical requirements by several countries related to the implementation of these devices is the key driver that is surging the demand of the market. The detectors segment is further segmented into flame, smoke, and heat. The growing usage of these systems in the residential, corporate, commercial building, entertainment malls, and other public spaces due to its exceptional benefits such as highly cost-effective and longer lifespan features, will further contribute to the growing demand of the segment.

On the basis of the fire suppression product, the extinguishers segment is expected to maintain its dominance during the forecast period. The significant factors that are boosting the growth of the segment include the rising number of fire accidents and hazards due to the unsuitable housekeeping standards, poorly maintained electrical circuits, and the availability of stock combustible materials such as inflammable gases or liquids. Additionally, the rising number of strict government regulations related to the installation of extinguishers in the residential, industrial, and commercial areas is opening new doors for the growth of the segment.

On the basis of the application, the commercial segment is predicted to experience a faster CAGR in the coming years. The commercial segment is further divided into healthcare, telecom & IT, hospitality, government, BFSI, retail, and institutional sectors. The increasing infrastructural developments, especially in the urban areas, is the key driver that is energizing the demand of the segment. In contrast, the industrial segment is anticipated to lead the fire safety equipment market owing to the increasing focus on worker’s safety, which is leading to the installation of full proof fire prevention and protection equipment.

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On the basis of the region, the Asia-pacific region is anticipated to grow at a higher CAGR in the fire safety equipment market over the next six years. This is due to the rapid industrialization and urbanization in the Asian countries, including Japan, India, and China. Moreover, the strong presence of several sensor manufacturing organizations and the increasing production of fire safety equipment are two other factors that are surging the market’s growth in the region. In contrast, the North American region is projected to grow at a faster CAGR during the forecast period owing to the rising infrastructural developments and the implementation of stringent fire safety regulations and norms in this region. For example, in 2017, the US government provided tax incentive to install fire sprinklers in the country.

Various notable players operating in the market include Tyco, Napco Security, Hochiki, Gentex Corporation, United Technologies, Johnson Controls, Honeywell, Robert Bosch, and Siemens, among others.

Key Developments: 

• • In 2020, Napco Security announced the launch of its “iSecure Complete Cellular Alarm Systems.” This alarm system will help security professionals to be more competitive, adding more residential accounts and new RMR.

The global Fire Safety Equipment market has been segmented on the basis of Solution, Fire Detection Product, Fire Suppression Product, Application and key regions. Based on Solution, the market is segmented into Detection and Suppression. Based on Fire Detection Product, the market is segmented into Detectors and Alarms. Based on Fire Suppression Product, the market is segmented into Extinguishers and Sprinklers. Based on Application the market is segmented into residential, commercial and industrial.

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Key questions answered in this research report:

• • At what pace is global Fire Safety Equipment market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Fire Safety Equipment market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Fire Safety Equipment market?
  • Which Solution generated maximum revenues in 2019 and identify the most promising Solution during the forecast period?
  • What are the various Fire Detection Products of global Fire Safety Equipment market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Fire Safety Equipment Market by Solution

• • Detection
  • Suppression

Global Fire Safety Equipment Market by Fire Detection Product

• • Detectors
    • Flame
    • Smoke
    • Heat
  • Alarms

Global Fire Safety Equipment Market by Fire Suppression Product

• • Extinguishers
    • Gas
    • Water
    • Dry Chemical Powder
    • Others
  • Sprinklers

Global Fire Safety Equipment Market by Application

• • Residential
  • Commercial
  • Industrial

Global Fire Safety Equipment Market by Region

• • North America Fire Safety Equipment Market (Option 1: As a part of the free 25% customization)
    • North America Fire Safety Equipment Market by Solution
    • North America Fire Safety Equipment Market by Fire Detection Product
    • North America Fire Safety Equipment Market by Fire Suppression Product
    • North America Fire Safety Equipment Market by Application
    • US Fire Safety Equipment Market All-Up
    • Canada Fire Safety Equipment Market All-Up
  • Europe Fire Safety Equipment Market (Option 2: As a part of the free 25% customization)
    • Europe Fire Safety Equipment Market by Solution
    • Europe Fire Safety Equipment Market by Fire Detection Product
    • Europe Fire Safety Equipment Market by Fire Suppression Product
    • Europe Fire Safety Equipment Market by Application
    • UK Fire Safety Equipment Market All-Up
    • Germany All-Up Fire Safety Equipment Market All-Up
    • France Fire Safety Equipment Market All-Up
    • Spain Fire Safety Equipment Market All-Up
    • Rest of Europe Fire Safety Equipment Market All-Up
  • Asia-Pacific Fire Safety Equipment Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Fire Safety Equipment Market by Solution
    • Asia-Pacific Fire Safety Equipment Market by Fire Detection Product
    • Asia-Pacific Fire Safety Equipment Market by Fire Suppression Product
    • Asia-Pacific Fire Safety Equipment Market by Application
    • China Fire Safety Equipment Market All-Up
    • India Fire Safety Equipment Market All-Up
    • Japan Fire Safety Equipment Market All-Up
    • Rest of APAC Fire Safety Equipment Market All-Up
  • RoW Fire Safety Equipment Market (Option 4: As a part of the free 25% customization)
    • RoW Fire Safety Equipment Market by Solution
    • RoW Fire Safety Equipment Market by Fire Detection Product
    • RoW Fire Safety Equipment Market by Fire Suppression Product
    • RoW Fire Safety Equipment Market by Application
    • Brazil Fire Safety Equipment Market All-Up
    • South Africa Fire Safety Equipment Market All-Up
    • Saudi Arabia Fire Safety Equipment Market All-Up
    • UAE Fire Safety Equipment Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Fire Safety Equipment Market All-Up

Major Players Operating the Fire Safety Equipment (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Tyco
  • Napco Security
  • Hochiki
  • Gentex Corporation
  • United Technologies
  • Johnson Controls
  • Honeywell
  • Robert Bosch
  • Siemens