Dublin, December 29, 2021 (GLOBE NEWSWIRE) – The report “Global Fire Safety Equipment Market Outlook, 2026” has been added to ResearchAndMarkets.com offer.
Global Fire Safety Equipment Market Outlook, 2026 provides in-depth market analysis of the global Fire Safety Equipment industry.
This report covers equipment based on product category: fire detection, fire alarm, and fire suppression. It also included information as well as analysis of the value of fire safety equipment.
The report also mentions the major companies involved in the manufacture of fire safety equipment.
The report is categorized into 5 regions and 19 countries, along with their local rules and trends.
The growing awareness of fire safety precautions and the increase in accidents due to recklessness and electrical short circuits have been the main drivers of the industry.
The market reached a value difference of over $ 24,000 million from 2015 to 2026. Apart from this, the increase in construction activity is expected to be a major support for the growth of the market in the coming years.
The need for fire safety precautions in other sectors such as manufacturing, petrochemicals, power and energy, mining, etc. should also help the market to grow with an expected CAGR of 5.25%.
Categorized into three fire detection, fire alarm and fire extinguishing segments based on product type, the global market is dominated by fire detection segment which held more than half of the share market in 2020. Fire alarm is expected to be the fastest growing segment with an expected CAGR of 6.06% during the forecast period.
In terms of end-user application, the market is divided into industrial, commercial and residential segments, in which the commercial segment held the highest share, contributing to a value of USD 16,209 million in 2020.
The main reason for this can be attributed to the increasing regulations and policies of different governments which have made the use of fire safety devices mandatory. The main reasons for home fires are gas cylinders, overheated appliances and improper wiring.
Due to the proximity of the housing units and the presence of highly flammable objects, the risk of starting a fire is also very high. Thus, during the forecast period, the residential applications segment is expected to grow at a CAGR of 5.57%, the highest expected rate.
The market is dominated by the North American market while the Asia-Pacific and Europe regions held nearly 50% of the market share in 2020.
In Europe, the national law on fire protection, as well as other rules, mandated to equip the infrastructure with adequate fire safety equipment systems. On the other hand, Asia-Pacific is developing with the help of China and India, which are on the path of rapid urbanization and industrialization.
In addition, the presence of several local manufacturing companies is likely to stimulate the market during the forecast period.
Major players in the global market are more focused on expanding to Asia and Latin America.
Local players are focused on launching new products to meet the growing needs of local consumers. In addition, market leaders acquire and collaborate with the best companies in the market to improve their offerings in the market and expand their customer base.
Main 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: worldwide
- Baseline year: 2020
- Historic year: 2015
- Forecast year: 2026
- North America
- Asia Pacific
- Latin America
- Middle East and 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 will help you answer the following questions:
1. What is the market size and forecast for the global fire safety equipment market?
2. What are the inhibitory factors and impact of COVID-19 shaping the global Fire Safety Equipment market during the forecast period?
3. Which region stands out in the global fire safety equipment market?
4. What are the segments to invest in during the forecast period of 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 technological trends and regulatory frameworks in the global fire safety equipment market?
7. Who are the major companies in the global Fire Safety Equipment market?
- Gentex Company
- HOCHIKI Company
- Napco Security Technologies Inc.
- Nittan Company Ltd.
- Halma plc
- Robert Bosch GmbH
- Honeywell International Inc.
- Siemens Building Technologies
For more information on this report, visit https://www.researchandmarkets.com/r/q3cgpj