Fire Alarm and Detection Market

The fire alarm and detection market is expected to grow, owing to increase in demand in residential and commercial construction sites. An increase in awareness toward the safety and security of consumers is boosting the growth of sales of fire alarms and fire detection products globally. Fire alarm and fire detection technology helps detect flames, heat, smoke, and gas leak and raise an alert. Installed fire alarm and fire detection systems cover a broad area so that no corners are unguarded. The increase in customer expenditure on fire alarm and fire detection systems is expected to drive the demand in the residential, industrial, and commercial sectors. The end-users of fire alarm and fire detection systems are households, construction sites, commercial, transport & logistics, manufacturing, government, and others. The ongoing pandemic disrupted the distribution channel and reduced the availability of systems that created a gap in supply and demand.

COVID-19 Impact Analysis

• Due to the outbreak of the COVID-19 pandemic, countries had to enforce lockdown that halted the progress of constructions of new properties and households. Therefore, the demand for fire alarm and fire detection systems decreased. The construction sites and other commercial places were the bulk buyers of these systems. The fire alarm and fire detection market saw a dip in production as sufficient labors were not available to continue the production process. The sales procedure could not complete as there was an unavailability of service personnel for installing the system.
• Disruption in the distribution channel was an important cause as adequate raw materials couldn't reach the industries for production; the delivery of finished products to the dedicated stores was not possible. Consumers had no option to visit the specialized stores, whereas online purchase could not support the installation service.

Top Impacting Factors

• Industries such as oil & gas, petrochemical, manufacturing, energy & power, and automotive are prone to fire outbreaks. Therefore, the demand for fire alarm and fire detection system is high from these industries. Manufacturers should work on improving the fire alarm and detection system by adding new features. Fire alarm systems can be programmed accordingly to reduce the reaction time for warning people.
• COVID-19 pandemic harmed the fire alarm and detection market as the sales and demand for the product had decreased. It is expected that demand for the products will increase as the construction and other industries start working in full force after the decline of the pandemic.
• The introduction of new technology is expected to improve the fire detection system such as fire detection system with multiple notifications, voice alert system, and wireless detectors will help in minimizing the risk.

Market Trends

Fire detectors connected with IoT.

The technology is developing day-by-day by creating an opportunity to upgrade the fire detector system with new features. Connecting the fire detector with IoT will enable new possibilities of controlling the system remotely from any desired place. In an emergency, the fire detector will interpret the situation and minimize the risk temporarily for a short period. It is expected to take necessary actions to avoid the accident that may turn worse.

A detector for multi-sensors should be a play changeover.

Currently, some companies are working on fire detectors to develop and add a multi-sensor feature that detects heat, smokes, infrared light from flames, and carbon monoxide from the surrounding air. This new feature is expected to drive the demand. Every industry or commercial office prone to accidents will opt to install this system for better protection from an unfavourable situation.

The addition of voice alert in the fire detection system is being expected to fuel the growth of the fire alarm and detector market.

The addition of a voice alert function in the fire detector system will alert the person and give them ample time to react. A voice narrative is easily heard and understood as it will preach clear instructions. On the other hand, it may be misunderstood or difficult to interpret a sound in a noisy environment. The voice alert function will produce an edge over ordinary fire detectors due to its narrative voice function. This invention is expected to fuel the growth of the fire alarm and detector market and increase the sales of fire alarm and detector systems.

Key Benefits of the Report

• This study presents the analytical depiction of the fire alarm and detector industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the fire alarm and detector market share.
• The current market is quantitatively analyzed to highlight the fire alarm and detector market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed fire alarm and detector market analysis on the basis of competitive intensity and how the competition will take shape in coming years

Questions Answered in the Report

• Who are the leading market players active in the fire alarm and detector market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?

 Fire Alarm and Detection Market Report Highlights