Fire Protection Systems Market at a CAGR of 9.7% During 2017 to 2022 - ReportsnReports
PUNE, India, May 9, 2017 /PRNewswire/ --
The fire protection systems market size is will be $93.46 Billion by 2022, at a CAGR of 9.7%. Major factors for growth are increased spending for protection of assets, robust growth in infrastructure development. Fire analysis software segment will grow at the highest rate with North America with largest share.
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The fire protection systems market is expected to be worth USD 93.46 billion by 2022, growing at a CAGR of 9.7% between 2017 and 2022. The current marketplace is expected to be driven by increased fire-related expenditure of various enterprises, along with the rising trend of automation in commercial buildings and smart homes. In addition, improvement in the existing government regulations and mandates regarding fire protection systems are driving this market. Factors restraining the growth of the FPS market include the high implementation and maintenance costs of fire protection systems, and lack of integrity in system interfaces.
Several types of products for sensing, detecting, and suppressing the fire are available in the market, including wet-pipe sprinkler systems, dry-pipe sprinkler systems, pre-action sprinkler systems, and deluge sprinkler systems. The suppression systems also include various extinguishers such asCO2, dry chemical, wet chemical, and water-based chemicals. The robust growth in infrastructure, utilities, and facilities is bringing in the need for a higher adoption of suppression systems across the globe.
On the basis of products, the fire protection systems market is segmented into fire detection systems, fire suppression systems, fire analysis software, fire response systems, and others. The fire suppression systems held the largest share of the global fire protection systems market based on products in 2016. The market for fire analysis software is expected to grow at the highest rate during the forecast period. The high growth rate of fire analysis software is owing to the increasing need for sophisticated fire analysis, which helps in proper decision-making and fire prevention.
The maintenance services held the largest share of the global fire protection systems market in 2016. The market for these services is expected to grow at the highest CAGR during the forecast period. The commercial vertical is expected to hold the largest share of the fire protection systems market by 2022, while the fire protection systems market for the oil, gas, and mining vertical is expected to grow at the highest rate between 2017 and 2022.
North America held the largest share of the fire protection systems market in 2016. Europe is one of the potential markets for fire protection systems globally. The market in Europe is expected to grow at the highest CAGR during the forecast period. The fire protection and safety regulations in this region are highly mandated. Therefore, most of the building structures are fixed with fire protection systems. The high growth of fire protection systems in Europe can be attributed to the stringent government mandate on installation of smoke detectors or smoke alarms in homes of European countries such as the UK, France, and Germany.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key experts. The breakup of the profile of primary participants is given below:
- By Company Type: Tier 1-42%, Tier 2-37%, and Tier 3-21%
- By Designation: C-Level Executives-30%, Directors-33%, and Others-37%
- By Region: North America-45%, Europe-26%, APAC-15%, and RoW-14%
Order a copy of Fire Protection Systems Market by Technology (Active, Passive), Product (Fire Detection (Sensors & Detectors, RFID), Fire Suppression (Fire Sprinklers, Fire Extinguishers), Fire Analysis, Fire Response), Service, Vertical - Global Forecast to 2022 Research Report at
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The prominent players profiled in this report are Honeywell International Inc. (US), Robert Bosch GmbH (Germany), Siemens AG (Germany), Tyco International plc (Ireland), Johnson Controls (US), and United Technologies (US), among others.
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