Fire safety is not only related to human being and property safety but is also related to the design of buildings and their services. Fire protection systems are developed as per standard stated by government authorities and regulatory bodies to control fire outbreaks. They provide assurance and safety by alerting people through audio and visual devices about the need to leave buildings. Fire protection equipment include flame detectors and smoke control devices and panels among other equipment that help fire emergency. Fire alarm systems and pumping systems are some of the widely used fire protection systems. Fire sensors and detectors when installed in commercial buildings and residential building provide the enhanced safety measure.
COVID-19 scenario analysis
Outbreak of coronavirus has affected the fire protection equipment companies drastically. Large industries use fire protection equipment for the purpose of safety major for their workforce. Shutdown of industries due to implementation of lockdown and labor relocation are the key factors that have negatively impacted the growth of the fire protection equipment market. In addition, construction activities are ceased, which led to decline in fire protection equipment market.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Fire protection systems include equipment such as fire sensors, fire extinguishers, fire hose reels, fire hydrant systems, and automatic sprinkler systems. The continuous efforts and increased expenditure made by companies to provide safe working space are the key drivers of the fire protection equipment market.
Furthermore, the demand for fire protection systems has increase with technological and economic developments. In addition, migration to urban areas has led to increase in construction activities, thus contributing significantly toward the growth of the fire protection system market. However high cost of customized fire protection systems is anticipated to hamper the growth of the global market.
New product launches to boost the market growth
Johnson Controls announced the launch of SAPPHIRE COMPACT fire suppression system. This fire suppression system is cost-effective and direct low pressure (DLP) solution for the protection of small, electrical enclosures. It is designed to protect small electrical enclosures with both natural ventilation and forced airflow. Furthermore, it is used in oil & gas sites and power generation plants.
Surge in usage of fire protection equipment in industrial applications
Increase demand for smoke detectors is boosting the growth of the fire protection equipment market. Furthermore, increase in investments in the commercial sector for construction of offices, educational institutes, and hospitality centers boost the need for fire protection equipment across the globe. In addition, surge in demand for highly efficient fire detection and prevention systems in oil, gas, and mining sectors to prevent accidents has significantly contributed toward the growth of the global market.
Key benefits of the report
- This study presents the analytical depiction of the global fire protection equipment market 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 market.
- The current market is quantitatively analyzed to highlight the global fire protection equipment market growth scenario.
- Porter’s five forces analysis of the key market players illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in coming years.
Fire Protection Equipment Market Report Highlights
By End-use Industry
Key Market Players
Hochiki Corporation, Halma PLC, Bosch Security Systems, Tyco International Limited, Honeywell International Inc., London Security PLC, VT MAK, London Security Limited, Johnson Controls, Inc., GentexCorporation, United Technologies Corporation