North America Fire Protection Systems Market Overview:
North America Fire Protection Systems Market was valued at $11,959 million in 2015 and is expected to garner $24,117 million by 2022, registering a CAGR of 9.8% during the forecast period 2016 - 2022.
Fire protection systems are used to suppress & control fire with the help of manual and automatic detectors. Fire protection systems comprises various components or products, such as fire detection systems, fire management systems, fire response systems, and fire analysis & software.
The North American fire protection system market report is segmented on the basis of product, services, industry vertical, and country. Based on product, it is classified into fire detection systems, fire management systems, fire response systems, fire analysis & software, and others. By services, it is bifurcated into consulting & design services and installation & maintenance services. Based on industry vertical, it is categorized into Banking, Finance, and Insurance (BFSI); automotive & transport; manufacturing; energy & power; healthcare; and oil & gas and mining. The North American market is further analyzed across countries into U.S., Canada, and Mexico.
North America fire protection systems market size was $11,959 million in 2015, and is expected to grow at a CAGR of 9.8% from 2016 to 2022, to reach at $24,117 million by 2022.
Strict government regulations and infrastructural developments drive the market for North American fire protection system. As multistory, high-rise buildings are in need for fire protection systems, thus strict fire & safety codes are implemented to minimize the risk and losses that are expected by fire explosion. U.S. and Canada have witnessed major infrastructural developments, owing to the high population growth rate in these regions.
U.S. is the leading market, in terms of growth rate, for North America fire protection systems, owing to exponential growth in technologies, such as smart building, building automation, and Internet of Things (IoT).
Key players profiled in the North America fire protection systems study are Honeywell International Inc., Johnson Controls, Inc., Siemens AG, Orcus Fire & Risk, Inc., Halma PLC., Robert Bosch GmbH, United Technologies Corporation, Amerex Corporation, Gentex Corporation, and HOCHIKI Corporation. The report discusses the key strategies adopted by these companies with the fire protection system trends, upcoming opportunities, and restraints in the market growth, and detailed information about their impacts.
North America Fire Protection Systems Market Segmentation
Top Impacting Factors
The figure below signifies the growth potential of the fire protection industry for North American market based on various factors, such as increased number of fire incidents in the region, boost in IoT market, and stringent government rules & regulations. The market is also expected to be impacted by the data & security concerns, owing to the rapid use of internet, which can lead to hacking issues, and the high installation and maintenance costs.
Top Impacting Factors
North America Fire Protection Systems Market Key Benefits
- The report provides an overview of the trends, structures, drivers, challenges, and opportunities in the North America fire protection systems industry.
- Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.
- Current and future trends adopted by the key players in the industry are highlighted to determine the overall competitiveness of the market.
- The quantitative analysis from 2014 to 2022 is provided to elaborate the market potential.
North America Fire Protection Systems Market Key Segments
- Fire Detection Systems
- Fire Management Systems
- Fire Response Systems
- Fire Analysis & Software
- Consulting & Design
- Installation & Maintenance
By Industry Vertical
- Automotive & Transport
- Energy & Power
- Oil & Gas and Mining.
- Others (Government, Education, and Retail Sector)