Fire Protection System Market Size, Share, Revenue Trends 2032

Fire Protection System Market: Industry Perspective

The global fire protection system market size was worth around USD 67.55 Billion in 2023 and is predicted to grow to around USD 116.87 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.28% between 2024 and 2032. The report analyzes the global fire protection system market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the fire protection system industry.

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The report gives a transparent view of the fire protection system market. We have included a detailed competitive scenario and portfolio of leading market vendors. To understand the competitive landscape of the fire protection system market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

The fire protection system is used to remove the effects of potentially large or destructive fires. Fire protection systems help in the investigation of fires along with studying their behaviors, suppression, and compartmentalization, combating emergencies, testing mitigating systems, and conducting research and development. The tools in these systems consist of smoke and flame detector devices and other tools that assist during fire emergencies. Alarm valves and suppression systems are among extensively used safety structures.

The increasing incidences of disastrous fire injuries are fuelling the number of casualties and loss of property in both business and non-business areas. This is majorly driving the demand for fire protection structures like fire suppressors and fireplace alarm devices and supporting the fire protection system market globally. Additionally, improvements in technology coupled with stringent regulations assisting protection at commercial, residential, and industrial areas will further contribute to the growth of the global fire protection system market. Furthermore, various developments related to smoke detectors coupled with IoT and big data are likely to create new market opportunities in the future. However, high installation and maintenance costs of fire protection devices may hamper this market.

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Fire Protection System Market: Segmentation Analysis

The global fire protection system market is divided based on product type, service, and vertical. The product type segment is fragmented into fire detection systems, fire extinguishers, fire suppression systems, and fire response systems. Fire suppression systems showed substantial growth in 2023. The service segment includes installation and design services, engineering services, managed services, maintenance services, and others. By vertical, the market includes healthcare, manufacturing, hospitality, IT and telecommunication, transportation and logistics, and others. The healthcare sector consists of various equipment that could be dangerous, thus, this sector is expected to witness considerable growth over the forecast time period.

By region, the Asia Pacific fire protection system market is expected to grow at a substantial rate in the future, owing to intensive industrialization and the presence of emerging economies like China and India. New constructions witnessed across the region are further driving this regional market’s growth. Moreover, the sound wave fire extinguishers and water mist systems are newly launched fire safety system types that are also contributing to this region’s fire protection system market. Infrastructural developments and strict government norms are driving the fire protection system market in North America.

Some noticeable players of the global fire protection system market are Siemens, Honeywell International, Gentex Corporation, ABB, Robert Bosch, Johnson Controls, Minimax Viking, United Technologies, VFP Fire Systems, Halma, and Hochiki Corporation.

Fire Protection System Market: Report Scope

Fire Protection System Market: Competitive Analysis

Some of the major players in the global fire protection system market include:

• Siemens
• Honeywell International
• Gentex Corporation
• ABB
• Robert Bosch
• Johnson Controls
• Minimax Viking
• United Technologies
• VFP Fire Systems
• Halma
• Hochiki Corporation

This report segments the global fire protection system market into:

Global Fire Protection System Market: Product Type Analysis

• Fire Detection Systems
• Fire Extinguishers
• Fire Suppression Systems
• Fire Response Systems

Global Fire Protection System Market: Service Analysis

• Installation and Design Services
• Engineering Services
• Managed Services
• Maintenance Services
• Others

Global Fire Protection System Market: Vertical Analysis

• Healthcare
• Manufacturing
• Hospitality
• IT and Telecommunication
• Transportation and Logistics
• Others

Global Fire Protection System Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa