Press Release / Technology / Fire Protection Systems Market Emerging Technologies and Industry Growth by Forecast to 2023

Fire Protection Systems Market Emerging Technologies and Industry Growth by Forecast to 2023

Market Highlights:

Fire protection systems are highly useful and vital parts of many buildings in urban areas as they help prevent fires, as well as control them in the event of a fire. Market Research Future has studied the market to find important facts and figures regarding the global fire protection systems market during the forecast period from 2017 to 2023. The global fire protection systems market is expected to grow at a CAGR of 8% during the forecast period, which is expected to result in a market value of USD 95 Bn by the end of 2023.

The increasing demand for fire protection systems due to the rapid rise in construction activity across the globe. The expansion of urban areas has resulted in large populations of people living and working in fairly close quarters. Due to this, there are a number of fire hazards that jeopardize the safety of residents and employees inside various buildings in the event of a fire. Expansion of urban areas, as well as industrialization, particularly in emerging economies, has resulted in the demand for fire protection systems. Moreover, fire protection systems are vital and available in most automotive vehicles to support passenger safety. Applications for fire protection systems are fairly diverse although they focus on one key element, to minimize damages caused by fire. Additionally, governments across the globe have set mandates regarding the easy availability of fire protection systems in commercial buildings and public spaces to ensure minimum property damage as well as minimize loss of life as far as possible.

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Major Key Players:

Siemens AG (Germany),
Honeywell International Inc. (US),
Tyco International PLC (Ireland),
United Technologies Corporation (US),
Johnson Controls International Plc. (US),
Robert Bosch GmbH (Germany),
Halma PLC (UK),
Hochiki Corporation (Japan),
Gentex Corporation (US),
Minimax Viking GmbH (Germany).
According to MRFR, The global Fire Protection Systems Market is expected to grow at approximately USD 95 Billion by 2023, at 8% of CAGR between 2017 and 2023.

Industry/ Innovation/ Related News

Align Capital Partners (US), a private equity firm announced the merger of ABCO Fire Protection into its fire safety platform company, ISA Fire and Security (US). Align had acquired ISA from Gen Cap America, Tennessee private equity firm in January this year following a recapitalization. The deal provides Align with a unique opportunity to achieve the next phase of growth.

Market Segmentation:

The global fire protection systems market has been segmented on the basis of type, product, services, vertical and region. Types have been segmented into active fire protection systems and passive fire protection systems.

Product has been segmented to include fire detection, fire suppression, fire sprinklers, fire analysis , and fire response. The various segments by product have been segmented further to include the following

Fire Detection - sensors & detectors, flame detectors, heat detectors, RFID systems, and smoke detectors.
Fire Suppression - water extinguisher, foam extinguisher, fire extinguishers, carbon dioxide extinguisher, dry chemical powder extinguisher, and others.
Fire Sprinklers - wet-pipe fire sprinklers, dry pipe fire sprinklers, pre-action fire sprinklers, deluge fire sprinklers, and others.
Fire Analysis - fire mapping & analysis software, fire modeling & simulation software
Fire Response - emergency lighting systems, response communication systems, voice evacuation & public alert systems, and fire alarm devices.
Service has been segmented into engineering services, managed services, maintenance services, installation & design.

Verticals have been segmented into residential, energy & power, manufacturing, commercial, transportation & logistics, oil & gas, and government.

Regional Analysis

Among the regions featured in the global analysis of the fire protection systems market, the North American region has captured the largest share of the market and is followed by the European and Asia Pacific markets. North America is largely made up of developed economies where there is a growing trend for automation and smart system in buildings, thus driving the demand for intelligent fire protection systems. Moreover, there is a strong presence of leading manufacturers in the region.

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Intended Audience

Technology Investors
Research/Consultancy firms
Technology Solution Providers
Government Bodies
Fire Protection Systems Component Providers
Fire Protection Systems Service Providers
Fire Protection Systems Product Manufacturers
Fire Protection Systems Original Equipment Manufacturers (OEMs)
Managed Service Providers
Third-Party System Integrators
Distributors and Traders
LIST OF TABLES

Table 1 Fire Protection Systems Market, By Type

Table 2 Fire Protection Systems Market, By Product

Table 3 Fire Protection Systems Market, By Service

Table 4 Fire Protection Systems Market, By Vertical

Table 5 Fire Protection Systems Market, By Region

Table 6 North America Fire Protection Systems Market, By Type

Table 7 North America Fire Protection Systems Market, By Product

Continued……

LIST OF FIGURES

FIGURE 1 RESEARCH TYPE

FIGURE 2 FIRE PROTECTION SYSTEMS MARKET, BY TYPE

FIGURE 3 FIRE PROTECTION SYSTEMS MARKET, BY PRODUCT

FIGURE 4 FIRE PROTECTION SYSTEMS MARKET, BY SERVICE

FIGURE 5 FIRE PROTECTION SYSTEMS MARKET, BY VERTICAL

Continued……

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