Fire Industry Info
The global fire safety equipment market size was estimated at USD 46.59 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. Rising demand for fire safety equipment for industries, such as utilities, automotive, manufacturing, energy and power, petrochemical, oil and gas exploration, mining, and construction is anticipated to drive the growth. Several developed and developing regions like Europe, North America, and the Asia Pacific have implemented stringent regulations, which mandated the installation of fire safety equipment in the residential, industrial, and commercial sectors. These factors are driving the demand for the growth of the market.
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The outbreak of the COVID-19 pandemic impacted the fire safety market adversely in the early quarters of 2020. This has resulted in a reduction in the installation of new fire safety equipment in industrial and commercial applications. However, increased spending on new construction activities and replacement of obsolete fire alarms and sprinklers and detectors are expected to witness the overall growth of the fire safety equipment market in the forthcoming years.
Reconstruction activities along with the implementation of safety codes against fire protection will positively impact market growth. Advancements in technology, including wireless alarm systems, smoke detectors, and water mist technology, will further boost the growth. The rise in awareness regarding fire safety equipment and the dangerous outcomes is expected to propel market growth. However, high replacement costs of traditional fire equipment would hamper the market growth.
The European Norm, National Fire Protection Act, among many other local regulations as well as listings, building codes, and approvals by nationally recognized testing laboratories have mandated the construction authorities to equip the infrastructures with adequate fire suppression and detection systems. Moreover, insurance companies provide incentives to infrastructure owners for installing such equipment, which is expected to drive the fire safety equipment market further.
Application Insights
The industrial application segment dominated the market with a revenue share of over 40% in 2021. This segment includes oil and gas, transportation sectors, energy and power, and manufacturing. These sectors emphasize the installation of fire safety equipment due to the high risk involved. The oil and gas sectors are highly prone to fire accidents due to flammable materials' involvement. Government regulations to safeguard workers from fire accident is propelling the demand for fire safety equipment.
Based on application, the market is segmented into industrial, residential, and commercial. The residential segment is expected to register the highest CAGR over the forecast period. In the past couple of years, the demand for fire safety equipment has increased significantly across this sector owing to the rising awareness about fire safety equipment and their benefits. The growing infrastructure development in developed and developing countries is also anticipated to fuel the growth.
Report Coverage & Deliverables
PDF report & online dashboard will help you understand:
Competitive benchmarking
Historical data & forecasts
Company revenue shares
Regional opportunities
Latest trends & dynamics
Solution Insights
Based on solution, the market for fire safety equipment is segmented into fire suppression and fire detection. Fire detection dominated the market and accounted for more than 60% share of the global revenue in 2021. This growth can be attributed to increasing policies, regulations, and government mandates, along with the use of advanced technology in detection devices. Furthermore, the growing number of fire accidents globally has compelled the need to install fire safety equipment.
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The fire detection segment is anticipated to expand at the highest CAGR of 7.2 % from 2022 to 2030. The rapid development in commercial construction and growing smart city projects will boost the demand for fire detection equipment during the forecast period. Furthermore, increased consumer spending on construction activities owing to the availability of disposable income and growing awareness about the fire detectors is expected to drive the growth of the market in near future.
Regional Insights
North America dominated the market in 2021 and was valued at USD 17.95 billion. The U.S. and Canada significantly contributed to the growth due to the rapid commercial and industrial construction development. Stringent fire safety regulations and norms are propelling regional growth. For instance, in the U.S., the Fire Code, a model code, is adopted by local and state jurisdictions and is enforced by fire prevention officers belonging to municipal fire departments. Rising concerns related to fire safety and security and the quick adoption of advanced technologies are also driving regional growth.
The Asia Pacific region is expected to register the highest CAGR over the forecast period. The Asia Pacific is a developing region, and countries such as India, China, and Japan are expected to drive the growth of the regional market. Factors such as the rapid urbanization and industrialization in emerging nations are expected to boost the demand for fire safety equipment in the region. The strong presence of sensor manufacturing companies and a high level of production of fire safety equipment are other significant factors that are anticipated to contribute to the growth of the segment in near future.
Key Companies & Market Share Insights
Prominent industry participants include Eaton Corp., Inc.; Robert Bosch GmbH; Nittan Company, Ltd.; Gentex Corp.; Siemens Building Technologies; Hochiki Corp.; United Technologies Corp.; Space Age Electronics; Johnson Controls; Honeywell International, Inc.; Napco Security Technologies, Inc. and Halma plc. Most companies are focusing on expanding their business and are adopting strategic initiatives and undertaking measures to gain benefits from the opportunities in the emerging market.
For instance, in 2019, Halma PLC acquired Ampac (Australia), a fire safety and evacuation system provider company. Amapc has a significant presence in Australia, New Zealand, and the U.K. The acquisition is expected to increase the presence and generate revenue for HalmaPlc in these countries. The prominent players invest in R&D to build simplified solutions to reduce installation time and overall costs. This is expected to boost the growth of the market. Some of the prominent players operating in the global fire safety equipment market are:
Robert Bosch GmbH
Eaton Corp., Inc.
Gentex Corp.
United Technologies Corp
Space Age Electronics
Halmaplc
Siemens Building Technologies
Hochiki Corp.
Nittan Company, Ltd.
Honeywell International, Inc.
Napco Security Technologies, Inc.
Johnson Controls
Fire Safety Equipment Market Report Scope
Report Attribute
Details
Market size value in 2022
USD 49.81 billion
Revenue forecast in 2030
USD 82.02 billion
Growth Rate
CAGR of 6.4% from 2022 to 2030
Base year for estimation
2021
Actual estimates/Historical data
2018 - 2020
Forecast period
2022 - 2030
Quantitative units
Revenue in USD Million and CAGR from 2021 to 2030
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered
Solution, application, region
Regional scope
North America; Europe; Asia Pacific; Latin America; MEA
Country scope
U.S.; Canada; U.K.; Germany; China; Japan; India; Mexico; Brazil
Key company profiled
Robert Bosch GmbH; Eaton Corp., Inc.; Gentex Corp.; United Technologies Corp.; Siemens Building Technologies; Honeywell International, Inc.; Napco Security Technologies, Inc.; Johnson Controls
Customization scope
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to Country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2021 to 2030. For this study, Grand View Research has segmented the global fire safety equipment market report based on solution, application, and region:
Solution Outlook (Revenue, USD Million, 2018 - 2030)
Extinguisher
Sprinkler
Detector
Alarm
Detection
Suppression
Application Outlook (Revenue, USD Million, 2018 - 2030)
Commercial
Industrial
Residential
Regional Outlook (Revenue, USD Million; 2018 - 2030)
Brazil
Mexico
China
Japan
India
U.K.
Germany
U.S.
Canada
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
