The global fire protection systems market is expected to expand at a CAGR of 7.8% during the forecast period from 2018 to 2026. Increasing incidences of catastrophic fire accidents leading to a high number of casualties and loss of property across both industrial and non-industrial spaces are identified as the major factor driving demand for fire protection systems such as fire standpipes, fire suppressors, and fire alarm units, among others.
Accidental fire outbreaks and the resulting property loss and casualties have convinced companies across the globe to install automated solutions for end-to-end fire detection and control. In addition, advancements in technology coupled with stringent regulations supporting safety in industrial as well as non-industrial spaces bode well for market growth worldwide. On the contrary, challenges associated with the design, standards, development cycle, and maintenance of these systems are limiting their adoption worldwide.
Regulated Demand from the Mining, Energy, and Oil & Gas Industries to Drive Growth Prospects
Industries prone to fire outbreaks, such as oil and gas, energy and power, mining, and industrial manufacturing, are some of the major end-users of fire protection systems. Considering the high risk of fire outbreaks in these industry verticals, companies are compelled to install multiple automated safety solutions at their facility.
The underlying threat to safety has triggered the need to install robust fire protection systems across upstream, midstream, and downstream operational fields in the oil and gas industry. With several forthcoming oil and gas projects, demand for new installations across these verticals will remain steady in the coming years.
For instance, it is expected that over 125 crude oil and natural gas projects will start operations in Asia over the course of the next seven years, driving market demand. Growth across these industries will also be driven by the replacement of conventional fire protection systems with state-of-the-art variants. For instance, the budding trend of replacing water sprinkler systems with mist-based fire suppression systems will drive market prospects during the forecast period from 2018 to 2026.
North America to Dominate; Europe to Register Steady Growth
In terms of value contribution, North America represented the largest fire protection systems market worldwide in 2017, closely followed by Europe. Their collective contribution to the global fire protection systems was around two-thirds of the total market value in the same year.
The U.S. was the largest fire protection systems market in North America and worldwide. Increasing shale gas exploration, upcoming deep-water drilling projects, and the prevailing trend of refurbishing older high-rise buildings are identified as major factors driving demand for fire protection systems in the U.S.
The fire protection systems market in North America is also expected to benefit from stringent regulations that promote workplace safety, driving installations of safety systems across industrial facilities. The fire protection systems market in Europe will continue to register steady growth on the back of the replacement of conventional systems with state-of-the-art equivalents.
Key Players:
Some of the leading manufacturers profiled in the study include ABB Ltd., Honeywell International Inc., Siemens AG, Johnson Controls, Inc., Robert Bosch GmbH, United Technologies, Hochiki Corporation, Minimax Viking GmbH, Gentex Corporation, VFP Fire Systems, Inc., and Halma PLC, among others.
Historical and Forecast Period
Historical Year :2016
Base Year :2017
Forecast Period :2018–2026
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2016 to 2026, considering 2017 as the base year for the research. The CAGR (compound annual growth rate) for each segment and sub-segment is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
End-use Vertical Segment (2016–2026; US$ BN)
Residential
Commercial
Oil and Gas
Industrial Manufacturing
Transportation
Government
Mining and Energy
Others (education, healthcare, etc.)
Product Segment (2016–2026; US$ Bn)
Fire Alarm Systems
Fire Suppression Systems
Fire Standpipe Systems
Others
Technology Segment (2016–2026; US$ Bn)
Active Fire Protection Systems
Passive Fire Protection Systems
Geography Segment (2016–2026; US$ Bn)
North America
United States
rest of North America
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific (APAC)
China
Japan
India
Rest of Asia Pacific
Rest of the World (RoW)
Middle East and Africa (MEA)
Latin America
Key questions are answered in this report.
What was the global market size for fire protection systems in 2016 and 2017?
What are the estimated forecast and market projections up to 2026?
Which is the largest regional market for fire protection systems?
Which end-use vertical has the largest penetration of fire protection systems?
Which is the most preferred technology used in fire protection systems?
What are the dominant trends shaping the global market for fire protection systems worldwide?
Which is the most attractive, promising, and less-explored end-use segment in the global fire protection systems market?
Who are the leading manufacturers of fire protection systems worldwide?
What are the key strategies adopted by the leading manufacturers in the global fire protection systems market?
Frequently Asked Questions:
The market for Fire Protection Systems Market is expected to reach US$ XX Mn By 2026.
The Fire Protection Systems Market is expected to see significant CAGR growth over the coming years, at 7.8%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Honeywell International Inc., Siemens AG, Johnson Controls, Inc., Robert Bosch GmbH, United Technologies, Hochiki Corporation, Minimax Viking GmbH, Gentex Corporation, VFP Fire Systems, Inc are some of the major players in the global market.
