Fire Safety Equipment Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Solution (Detection, Suppression); Technology (Active Fire Protection Systems, Passive Fire Protection Systems); Application (Commercial, Industrial, and Residential)
Publication Month: Dec 2020 |
Report Code: TIPRE00013824
| No. of Pages: 209
| Category: Electronics and Semiconductor
| Status: Published
In terms of revenue, the fire safety equipment market was valued at US$ 10,362.1 million in 2019 and is projected to reach US$ 13,562.9 million by 2027; it is expected to grow at a CAGR of 4.3% during the forecast period from 2020 to 2027.
The fire safety equipment market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. In terms of market share, the North America region dominated the fire safety equipment market in 2019. The North American countries, especially the US and Canada, are technologically advanced and house numerous industries, including automotive, pharmaceutical, semiconductor, and chemicals. The industry players in North American countries are increasingly emphasizing the adoption of advanced technologies, including fire safety products, to protect people during case of fire. Along with industrial growth, the region, especially the US, has a large number of multistory and high rise buildings that require fire protection systems and stringent fire & safety codes to mitigate loss caused by fire. Canada is another country witnessing infrastructural developments due to high population growth rate.
Impact of COVID-19 Pandemic on Fire Safety Equipment Market
The COVID-19 virus outbreak has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients has governments to put a bar on transportation of humans and goods. The manufacturing and construction industries, academic institutes, shopping complexes, office premises has experienced temporary shutdown in their activities to curb the spread of virus. The factory shutdowns and border lockdowns have impacted manufacturing, supply, and sales of various industries and thus stopping the production of safety products and their adoption in buildings.
However, after 6-7 months of lockdown, now the businesses are getting resumed including construction industry. With construction projects getting commenced, the procurement of new fire safety products will rise gradually with ease of supply chain. It is important to note that imposition regarding travel ban and closure of businesses on temporary basis are made to control spread of COVID-19 and therefore, need to consider Fire Risk Assessment is necessary as movement of people was limited.
Lucrative Regional Fire Safety Equipment Market
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Market Insights–Fire Safety Equipment Market
Provision Environment Standards for Environment Safety
In an event of a fire in buildings, the fire resistance time of the products and materials is the most critical variable. During last two decades, a vibrant growth in construction industry has been witnessed, majorly in high rise buildings. Fire in residential buildings, especially in high rise buildings, becomes more complex and rescuing task becomes difficult. With rapid modernization of construction industry, the government bodies of various countries have levied regulations for combating potential fire hazards. The US, Canada, Australia, Mexico, UK, Germany, Spain, Italy, China, and India have laid down stringent regulations.
Type Segment Insights
Based on type, the detection is the leading segment in the global fire safety equipment market during the forecast period. Fire detection systems are vital elements of building design. For any multi-winged structures and high-rise buildings, fire detection systems are a must.
Technology Segment Insights
Based on technology, the passive fire protection system is the leading segment in the global fire safety equipment market during the forecast period. As passive fire protection assists in preventing fire from spreading its initial ignition into any area of buildings, this technology is getting used at a high rate compared to active fire protection systems.
Fire Safety Equipment Market, by Application (% share)
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Application Segment Insights
Based on application, the commercial segment is the leading segment in the global fire safety equipment market during the forecast period. With an increase in construction of commercial buildings—such as shopping complexes, warehouses, and distribution center, and office premises—across the world, the demand to integrate fire alarms, emergency lights & exit signs, fire extinguishers, and fire sprinklers is also booming.
Report Coverage - Fire Safety Equipment Market
Market Size Value in
US$ 10,362.1 million in 2019
Market Size Value by
US$ 13,562.9 Million by 2027
CAGR of 4.3% from 2019 to 2027
2019 - 2027
No. of Pages
No. of Tables
No. of Charts & Figures
Historical data available
Type, Application, End User
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
In 2020, NITTAN COMPANY, LTD. updated a new conventional beam type smoke detector (CKLD-KPT2), which comprises an infra-red transmitter and a receiver.
In 2019, Halma plc had acquired Ampac to support its strategy of growing geographical footprint and increasing fire system offerings. Ampac is a leading fire and evacuation systems supplier in the Australian and New Zealand markets.
In 2018, HOCHIKI Corporation had modified its fire protection systems with UL test laboratory's approval that today's single-sensor technology would not be able to comply with the new standards. Substantial changes have been made to the detector construction both from inside and outside, including airflow, sensing technology, and smoke chamber size & shape.
The global fire safety equipment market has been segmented as follows:
The growth of the fire safety equipment market is primarily due to the growth in construction sector. The construction sector is getting flourished with infrastructural projects in recent times. This trend is anticipated to endure over the years, and thereby creating a huge potential for commercial and industrial constructions. Governments of various countries are undertaking initiatives with a motive to support the construction industry. The growth phase in construction industry and building design has introduced more professional designs, construction methods, and technologies to fulfill the demand of fire safety. With growing construction, the infrastructure projects in the commercial and residential sector are booming. Malls, dwellings, hotels, domestic and residential buildings especially the high-rise building are witnessing huge growth. The multi-storey and high-rise buildings have garnered a significant attention in fire safety in recent few years. The code bodies, local, regional, and national governments are all engaged in increasing the safety of high-rise building. The US, Japan, the UAE, China, South Korea, and Australia are among countries with a large number of skyscrapers. The numerous skyscrapers in countries are contributing toward the adoption of fire safety equipment. Strong economic conditions and low rates of interest are contributing toward the expansion of construction in Asia Pacific, North America, and the Middle East. The construction industry in the US, Canada, China, and India is experiencing a steady growth in their commercial and residential construction sectors. Progression in the construction of Private housing, commercial office construction, and commercial retail, is anticipated to provide prosperous growth opportunities to the market across the globe, thus, positively impacting the fire safety equipment market.
Increase in conceptualization of smart cities and buildings is expected to create significant opportunity of the fire safety equipment market growth. With the developing economy, innovative technologies have been initiated to transform the urban landscape. The World Bank outlines a technology-intensive smart city which would be having interconnected networks and sensing technologies. Most of upcoming cities would be having high-rise buildings as well as dense concentration of buildings, which would make it mandatory to address fire situation to mitigate any loss of property and life. With the help of emerging technologies such as IoT, the effectiveness of fire response can be increased. An IoT-enabled sensing technology with gateways connected to a backbone cloud-based software & apps is an important requirement for smart cities and buildings to enable fire safety. IoT-based systems for fire safety, such as centralized fire monitoring platform, significantly help in enhancing the effectiveness and speed of response. Advancement of wireless technologies, majorly for IoT enabled sensors, and easy access to internet connectivity and bandwidth is another aspect which would contribute toward the adoption of fire safety. IoT sensors are installed to monitor electrical systems and identify active heat sources on a continuous basis. Once a temperature spike is identified, a notification is sent immediately to take necessary inspections to prevent potential catastrophes. The IoT temperature sensors overcome challenges of old smoke detectors by identifying ignited fires much faster before they emit smoke. Therefore, with increasing conceptualization of smart cities, smart offices, and smart buildings across the world, the scope of integration of IoT-based fire safety system would also expand, thereby influencing the market growth.
The fire safety equipment market is led by detection segment with highest share and is expected to dominate in the forecast period. Fire detection systems are vital elements of building design. For any multi-winged structures and high-rise buildings, fire detection systems are a must. Therefore, the electrical contractors enlist the expert services of National Institute for Certification in Engineering Technologies (NICET) certified designers to equip the buildings with an effective and efficient fire detection & alarm system. The design of detection systems should meet or exceed all elements of NFPA and local code requirements to have greater safety.
The List of Companies - Fire Safety Equipment Market
Bosch Sicherheitssysteme GmbH
Eaton Corporation plc
Honeywell International Inc.
Johnson Controls, Inc.
Napco Security Technologies, Inc.
NITTAN COMPANY, LTD.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global fire safety equipment market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global fire safety equipment market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution