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Allied Market Research

Fire Protection Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Feb 2021 | 65 Views
 
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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.

Market scope and structure analysis

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Billion (USD)

  Segments covered

  Type, Application, End-use Industry, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and the rest of LAMEA)               

  Companies covered

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, and Halma PLC

 

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 segments covered

Segment

Subsegment

  Type

  • Active Protection
  • Passive Protection

   End-use Industry

  • Commercial
    • Academia & Institutional
    • Retail
    • Healthcare
    • Hospitality
    • Banking, Financial Services, & Insurance (BFSI)
  • Industrial
    • Oil, Gas, & Mining
    • Manufacturing
    • Transportation & Logistics
    • Energy & Power
  • Residential
  • Government

 

 

 

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 from 2020 to 2027 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. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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