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Global Fire Safety Equipment Market Overview, 2020-2026

Global Fire Safety Equipment Market Overview, 2020-2026

Bonafide Research 23-10-2021 84 Pages Figures : 13 Tables : 64
Region : Global Category : Manufacturing & Industry Machinery, Parts & Equipment

1. Honeywell International Inc.

2. Gentex Corp.

3. Halma PLC.

4. HOCHIKI Corporation

5. Napco Security Technologies, Inc.

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The equipment designed to protect human life/ property from fire accidents by extinguishing the fire is categorized as firefighting equipment. It can be used by the trained firefighters as well as the untrained layman during the fire breaks out or the mechanisms are built within the infrastructure itself. The recent publication of Bonafide Research under the title – Global Fire Safety Equipment Market Overview, 2020-2026 provides an in-depth market analysis of the global fire safety equipment industry. This report covers the detailed insights of the equipment based on product category- Fire Detection, Fire Alarm & Fire Suppression. It also included insights along with the value analysis of the fire safety equipment. The report also mentions the competition of leading companies that are involved in the manufacturing of fire safety equipment. The report is classified into 5 regions and 19 countries, along with their local rules & trends.

With the increasing understanding about the hazards and the risk of the possible fire occurrence and the intensity of the loss it can bring into the life & property, the demand for fire safety equipment has inclined considerably. The overall global market registered a growth of USD 24000 Million in terms of value between the years 2015 to 2026. The fire accidents not only cause life loss but also affect the construction quality and content, which might not result in immediate damage but can be fatal in the long run. The increasing quality of infrastructure, which requires a huge investment is to aid the fire safety equipment market to grow with an expected to grow anticipated CAGR of 5.25%.

In many cases, fire burn is not the primary cause of death, but the injuries due to asphyxiation from poisons smoke fume, heart attacks due to panic, structural collapse, etc. are the top reasons. This can be avoided beforehand with the detection of the fire indications and thus gain enough time to evacuate the building. The market is led by the fire detection segment, which aids in identifying the fire breakout in its development stage itself. The high price and the unwanted panic created due to the false detection acts as the major market constraint in the fire detection segment. In the forecasted period, the fire alarm segment is to be the fastest-growing equipment segment, with a CAGR of 6.06%. The advanced fire alarm systems are designed in a way that they pass on the detected information to the emergency responder and thus aid the control process. Fire suppression equipment is highly preferred in hotels, schools, and hospitals due to its ease of use.

The continuous technological advancement in smart home automation has forced the manufacturers to launch a line of intelligent equipment which is programmed to send alters through internet connectivity.
The use of fire safety equipment is on the rise in the residential segment as well, with the increasing awareness about fire precautions. The reason for a fire breakout in the residential setup might be negligible like candles, incense sticks, smoking, carelessness of children, etc. Thus, through the forecasted period, the residential application segment is to be growing at a CAGR of 5.57%, the highest anticipated rate. Apart from this, the proximity of the residential setup coupled with the ease of catching fire put it in a vulnerable state.

In the year 2020, nearly half of the market share was held by the regions of the Asia Pacific and Europe, while it was North America that dominated the global market. The Middle East & Africa region is expected to be growing with the spree in the construction industry in the coming period. The major developing economies across the world like India, Indonesia, China, Colombia, etc. are moving towards the establishment of smart cities which is to fuel the overall market growth in the coming period. Coupled with this, the government guidelines regarding the installation of fire safety equipment are to aid the market growth in developing countries.

While the prominent players are targeting more towards their expansion in Asia and Latin America, the local players are also gaining a considerable market. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. Top of it, in the Asia Pacific the market, has a high presence of alternative products from China, which is cheaper to import. However, the recent controversies among the countries and the increasing failure of these products in time of need caused a decline in the use of unbranded alternatives. This has made it possible for many global players are now targeting Asian countries.

Major companies mentioned in the report: Gentex Corporation, HOCHIKI Corporation, Napco Security Technologies, Inc., Nittan Company, Ltd., Halma plc, Robert Bosch GmbH, Honeywell International, Inc., Siemens Building Technologies

CONSIDERED IN THE REPORT
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026

REGIONS COVERED:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

ASPECTS COVERED IN THE REPORT
• Market Size by Value for the period (2015-2026F)
• Market Share by Product Type (Fire Detection, Fire Alarm, Fire Suppression)
• Market Share by Application (Commercial, Industrial, Residential)
• Market Share by Region
• Market Share by Country

This report would help you answer the following questions:
1. What is the market size and forecast of the Global Fire Safety Equipment Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Fire Safety Equipment Market during the forecast period?
3. Which region outstands in the Global Fire Safety Equipment Market?
4. Which are the segments to invest in over the forecast period in the Global Fire Safety Equipment Market?
5. What is the competitive strategic window for opportunities in the Global Fire Safety Equipment Market?
6. What are the technology trends and regulatory frameworks in the Global Fire Safety Equipment Market?
7. What are the major companies in the Global Fire Safety Equipment Market?

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