Fire Safety Equipment Market Worth US$13,562.9 Million by 2027 –

Fire Safety Equipment Market

According to our latest market study on “Fire Safety Equipment Market Forecast to 2027 – Impact of COVID-19 and Global Analysis – By Solution, Technology and Application”, the market was valued at USD 10,362.1 Million Americans in 2019 and is expected to reach the United States. $13,562.9 million by 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027.

With the development of the economy, innovative technologies have been launched to transform the urban landscape. The World Bank describes a technology-intensive smart city that would have interconnected networks and sensing technologies. Most future cities would have high-rise buildings as well as a dense concentration of buildings, which would make firefighting mandatory to mitigate any loss of property and life. With the help of emerging technologies such as IoT, the efficiency of firefighting can be increased.

IoT-enabled sensing technology with gateways connected to cloud-based software and applications is an important requirement for smart cities and buildings to enable fire safety. IoT-based systems for fire safety, such as the centralized fire monitoring platform, greatly contribute to improving the efficiency and speed of response.

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Bosch Sicherheitssysteme GmbH; Eaton Corporation plc; Gentex Company; Halma plc; HOCHIKI Company; Honeywell International Inc.; Johnson Controls, Inc.; Napco Security Technologies, Inc.; NITTAN COMPANY, LTD. ; and Siemens AG are among the few large companies operating in the fire safety equipment market.

The advancement of wireless technologies, primarily for IoT-enabled sensors, and easy access to internet connectivity and bandwidth is another aspect that would aid in the adoption of fire safety. IoT sensors are installed to monitor electrical systems and identify continuously active heat sources. Once a temperature spike is identified, a notification is sent immediately to perform the necessary inspections to prevent potential disasters. IoT temperature sensors overcome the challenges of older smoke detectors by identifying ignited fires much faster before they emit smoke.

“The Fire Safety Equipment Market research report provides a comprehensive study on production capacity, consumption, import and export for all major regions of the world. The report provides an inclusive professional study on the current state of the market. Analysis and discussion of important industries such as market trends, size, share, growth estimates are mentioned in the report.”

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Geographically, North America held the largest fire safety equipment market share in 2019, followed by Europe and Asia-Pacific. Also, Asia-Pacific is expected to experience the highest growth rate during the forecast period. The fire safety equipment market is segmented into solution, technology, application, and geography. Based on the solution, the market is further divided into detection and removal.

The sensing segment accounted for a larger share of the overall market during the forecast period. Based on technology, the market is further segmented into active fire protection systems and passive fire protection systems. In 2019, the passive fire protection systems segment accounted for a substantial share of the global fire safety equipment market. Based on application, the market is segmented into commercial, industrial, and residential. The commercial segment accounted for the largest share of the overall market during the forecast period.

Impact of the COVID-19 Pandemic on the Fire Safety Equipment Market

The COVID-19 virus epidemic has affected all businesses in the world since December 2019. The continuous growth in the number of patients infected with the virus forces governments to ban the transport of people and goods. Manufacturing and construction industries, academic institutes, business complexes, office premises have experienced a temporary shutdown of operations to curb the spread of the virus. Factory shutdowns and border closures have impacted the manufacturing, supply, and sales of various industries, halting the production of security products and their adoption in buildings. However, after 6-7 months of lockdown, businesses are picking up again, including the construction industry.

Fire Safety Equipment Market Chapter Details:
Part 01: Executive Summary
Part 02: Scope of the report
Part 03: Fire Safety Equipment Market Landscape
Part 04: Fire Safety Equipment Market Sizing
Part 05: Fire Safety Equipment Market Segmentation by Product
Part 06: Five forces analysis
Part 07: Customer landscape
Part 08: Geographic landscape
Part 09: Decision framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Supplier Landscape
Part 13: Vendor Analysis

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Contact person: Sameer Joshi
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The Insight Partners is a one-stop provider of actionable intelligence industry research. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals and the materials.

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