Fire Alarm and Detection System Market

The global fire alarm and detection system market was valued at $60.51 billion in 2020, and is projected to reach $98.90 billion by 2030, registering a CAGR of 5.0%.  

COVID-19 scenario to impact Industrial segment in the Fire Alarm and Detection Market negatively.

A fire alarm and detection system warns people whenever the smoke, carbon monoxide, fire, or other fire-related emergencies is detected. It is designed for discovering fire early in its development when time is available for safe evacuation of occupants. In this system, detectors are coupled with alarms. However, the alarm system provides notice to the building occupants as well as transmits a signal to the staff monitoring station either on or off site. The fire alarm system consists of various devices such as heat detectors, smoke detectors, carbon monoxide detectors, multi-sensor detectors, and manual call points. 

Increased rate of fire safety system deployment in educational institutes and rise in awareness among residents for fire detection systems mainly drive the fire alarm and detection system market growth. However, high initial costs along with concerns related to false alarms & detection failure restrain the market growth.  

The global fire alarm and detection system market size has been significantly impacted by the COVID-19 outbreak. The production facilities of the electronics and semiconductors have been halted, owing to the slowdown and unavailability of the workforce across the globe. COVID-19 outbreak has caused a significant and protracted drop in manufacturing utilization, and travel bans & facility closures kept workers out of their factories, which led to slowdown in the fire alarm and detection system market growth in 2020.

Region wise, the fire alarm and detection system industry trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The Asia-Pacific region is expected to experience the highest growth rate during the forecast period. Increase in industrialization and urbanization along with the surge in investments that are focused on infrastructure development across the developing countries in the Asia-Pacific mainly drives the growth of the market.

As per the fire alarm and detection system market trends players such as ABB, Honeywell International Inc., Johnson Controls, and Eaton are focusing their investments on technologically advanced and cost-effective products. For instance, in September 2019, ABB, one of the leading market players launched its new Alarm-Stick, which integrates ABB’s smoke, heat and carbon monoxide (CO) detectors into ABB-free home. Moreover, the companies aim for business expansion through mergers & acquisitions, partnerships, and product launches to prevent the new entrants from capturing/entering the market.

Top Impacting Factors

Factors such as increased rate of fire safety system deployment in educational institutes and rise in awareness among residents for fire detection systems mainly drive the growth of the fire alarm and detection system market revenue. In addition, advancement of fire detection and alarming devices is projected to propel the growth of the market during the forecast period. However, the high initial costs of industrial fire alarm systems, along with concerns related to false alarms & detection failure restrain the market growth. On the contrary, development of wireless and remote function fire detection and alarm system creates lucrative growth opportunities for the wireless fire alarm system market.

Competition Analysis

Competitive analysis and profiles of the major fire alarm and detection system market players such as Carrier Global Corporation, Eaton Corporation PLC, Halma PLC, Hochiki Corporation, Honeywell International Inc., Johnson Controls International PLC, NAPCO Security Technologies, Inc., NITTAN Company, Limited, Robert Bosch GmbH and  Siemens AG.

COVID-19 IMPACT ANALYSIS

• The global fire alarm and detection system industry has been significantly impacted by the COVID-19 outbreak. The production facilities of the electronics and semiconductors have been halted, owing to the slowdown and unavailability of the workforce across the globe. COVID-19 outbreak has caused a significant and protracted drop in manufacturing utilization, and travel bans & facility closures kept workers out of their factories, which led to slowdown in the growth of the fire alarm and detection system market in 2020. 
• The Asian and European countries under lockdown have suffered major loss of business and revenue, due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease; thereby, leading to slowdown in the fire alarm and detection system market growth in 2020.  
• However, the fire alarm and detection system market is expected to suffer a negative impact due to COVID-19 for a short period of time, and by early 2021 the market is anticipated to observe robust recovery rate along with the extensive demand for fire alarm and detection system products during post pandemic. This is due to surge in number of market players who are reassessing their strategies and coming up with quick responses to stabilize their supply chain. 

Key Benefits For Stakeholders

• This study comprises analytical depiction of the global fire alarm and detection system market size along with the current trends and future estimations to depict the imminent investment pockets.
• The overall fire alarm and detection system market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current fire alarm and detection system market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the fire alarm and detection system market share of key vendors.
• The report includes the wireless fire alarm system market trends and the revenue share of key vendors.

Key Market Segments

By Offering

• Hardware 
  • Control Panels
  • Sensors & Initiating Components
  • Notification & Audio Components
  • Others
• Software

By Product Type

• Fire Alarm
  • Audible Alarms
  • Visual Alarms
  • Manual Call-points
• Detector Type
  • Flame Detectors
  • Smoke Detectors
  • Heat Detectors

By Detection Technology

• Addressable 
• Conventional

By Connectivity

• Wired 
• Wireless

By End User

• Commercial 
• Residential
• Industrial

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia-Pacific
  • China 
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East 
  • Africa

Key Players

• Carrier Global Corporation
• Eaton Corporation PLC
• Halma PLC
• Hochiki Corporation
• Honeywell International Inc.
• Johnson Controls International PLC
• NAPCO Security Technologies, Inc.
• NITTAN Company, Limited
• Robert Bosch Gmbh
• Siemens AG