Report Code: A08331 | Pages: NA | Mar 2023 | 1016 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Fire Protection Equipment Market
Request Now !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.
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.
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.
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.
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.Â
Key benefits of the report
Fire Protection Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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By End-use Industry |
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Key Market Players | United Technologies Corporation, Tyco International Limited, London Security Limited, London Security PLC, Johnson Controls, Inc., Bosch Security Systems, Honeywell International Inc., GentexCorporation, VT MAK, Hochiki Corporation, Halma PLC |
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