Global Fire Alarm and Detection Market Size, Share & Growth Analysis Report, 2024-2032
Global Fire Alarm and Detection Market Size, Share & Growth Analysis Report, 2024-2032

Fire Alarm and Detection Market Share, Size, Trends, Industry Analysis Report, By Product (Detectors, Alarm), By Detector Type (Flame, Smoke, Heat), Alarm Type (Audible, Visual, Manual Call-points), By Application, By Region, And Segment Forecasts, 2024 - 2032

  • Published Date:Jan-2024
  • Pages: 117
  • Format: PDF
  • Report ID: PM3572
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global fire alarm and detection market was valued at USD 34.42 billion in 2023 and is expected to grow at a CAGR of 7.40% during the forecast period. Increasing adoption of fire safety systems in educational institutions and the rising recognition of fire detection in residential and commercial sectors are expected to drive the demand for fire alarms and detection. The growth of the market is fueled by advancements in technology, heightened awareness of fire safety, urbanization, and industrialization. As the commercial and industrial sectors expand and fire safety awareness improves, it creates a favorable environment for business growth in this industry.

Fire Alarm and Detection Market Size

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Despite the temporary slowdown in the mid-term due to various factors, there are still opportunities in terms of upcoming and resumed construction projects, in 2021. Fire detection and alarm systems are essential components of any building project, ensuring safety across different structures. Therefore, an increase in the number of construction-related projects will be a positive development for the growth of the industry. Moreover, technological advancements that enable wireless products and improve response time will play a crucial role in shaping future growth prospects. These advancements will contribute to the industry's ability to meet evolving safety requirements and drive its expansion.

Industry Dynamics

Growth Drivers
The demand for enhanced fire safety systems in industrial settings, particularly in industries prone to fires such as automotive, petrochemical, mining, & oil & gas exploration, will be the key driver of fire alarm and detection market growth. Additionally, the COVID-19 pandemic has highlighted the importance of fire safety in the newly established work-from-home culture. As businesses gradually resume operations in certain parts of the world, building managers and facility owners are prioritizing the protection and maintenance of fire safety systems.

In the coming years, the significance of fire safety is expected to be emphasized as businesses reopen, leading to increased sales of fire safety products. Furthermore, the work-from-home trend resulting from the pandemic will also contribute to the industry's recovery, as individuals spend significant amounts of time working from home and prioritize fire safety. The ongoing pandemic has prompted a modest upsurge in the industry, and as construction projects, both new and redevelopment, start to recover, it will create favorable market conditions for original equipment manufacturers (OEMs) of fire detection and alarm systems.

Fire Alarm and Detection Market Size

Report Segmentation

The market is primarily segmented based on by product, detectors type, alarm type, application, and region.

By Product

By Detectors Type

By Alarm Type

By Application

By Region

  • Fire Detectors
  • Fire Alarms
  • Flame Detectors
  • Smoke Detectors
  • Heat Detectors
  • Audible Alarms
  • Visual Alarms
  • Manual Call-points Alarms
  • Commercial
  • Industrial
  • Residential
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Fire Detectors segment accounted for the largest market share in 2022

Fire detectors segment accounted for largest market share. Fire detectors play a crucial role in detecting potential hazards like gas leaks that could lead to fire accidents. Regulations implemented in various countries that promote the adoption of fire detectors are significant factors driving product sales. This trend is anticipated to continue until 2030, with increasing emphasis on fire safety regulations and the recognition of the importance of early detection in preventing fire incidents. The demand for fire detectors is expected to remain robust in the coming years due to these favorable regulatory environments.

Fire alarm segment witnessed steady growth. Fire regulations will continue to be a key driver in stimulating the demand for fire alarms. Fire alarms & detectors are complementary to each other and are crucial components for ensuring optimal fire safety. While alarms provide warning signals to occupants, detectors are essential for detecting potential hazards. Both product categories will witness significant growth during the projected period and play a critical role in buildings and facilities. In the current scenario, technology plays a crucial role in advancing fire alarm systems and positively impacting market demand.

Heat detectors segment witnessed steady growth in 2022

Heat detectors registered robust growth. Heat detectors are suitable option for environments with hot climates or rapid temperature fluctuations. These locations often include areas such as garages, mechanical rooms, storage facilities, and commercial kitchens. In these settings, heat detectors are particularly effective because they are designed to activate when a specific temperature threshold is reached or when the temperature rises rapidly.

Smoke detectors garnered largest share. Introduction of innovative smoke detectors with longer lifespans and improved cost-efficiency has contributed to sustaining the demand in the market. These advancements have addressed the need for reliable and long-lasting smoke detection solutions while offering cost-effective options for residential and commercial users. As a result, the sector has experienced a steady demand for smoke detectors in recent years.

Manual alarms segment is expected to witness steady growth during the forecast period

Manual alarms registered robust growth. The ability of manual call-point alarms to provide a quick and visible means of alerting others in the event of a fire is a significant factor contributing to their increasing popularity. These alarms empower individuals to take immediate action and raise the alarm, allowing for timely evacuation and faster response from emergency services. Given the emphasis on fire safety and the potential consequences of delayed response, the demand for manual call-point fire alarms is projected to witness significant growth across various industries and regions.

Audible alarms garnered largest share. Given the importance of rapid response and the need for immediate attention in fire safety, the growth of the audible alarms segment is driven by these factors. The ability to effectively communicate the presence of a fire through a clear and attention-grabbing sound is vital in promoting the safety and well-being of individuals in various settings.

Fire Alarm and Detection Market Size

North America region dominated the global market in 2022

North America region dominated the global market with considerable market share. The absence of uniform criteria across regions can create challenges for businesses operating in the fire safety equipment sector. The varying requirements and regulations across different jurisdictions may increase complexity and costs associated with compliance. However, it is important to note that the increasing adoption of fire safety standards and regulations, even if not fully uniform, still presents lucrative opportunities for manufacturers and suppliers of fire safety equipment. Adapting to regional requirements and leveraging the growing awareness of fire safety can help businesses succeed in this sector.

APAC registered the robust growth rate. With ongoing urbanization and economic development, there is a heightened need for fire safety measures in the construction and industrial sectors. The growing awareness of fire safety regulations and the implementation of stringent safety standards have further fueled the demand for fire safety equipment in the region. Additionally, the rise in population, increasing urbanization, and expanding commercial activities have led to a surge in construction projects, creating a substantial market for fire safety equipment. The growth of industries such as manufacturing, oil and gas, transportation, and healthcare also contributes to the demand for fire safety solutions.

Fire Alarm and Detection Market Size

Competitive Insight

Companies are investing in research and development efforts to create innovative products that integrate cutting-edge technologies, enabling them to stay ahead of the competition. Their regional strategies emphasize cost-effectiveness, securing regional contracts, and establishing a strong local sales network, especially in emerging markets. Another key focus is providing comprehensive after-sale services to ensure that installations meet safety and operational requirements. Vendors aim to offer additional services, new product options, as well as training and support to assist customers in selecting the most suitable products for specific applications.

Some of the major players operating in the global market include Eaton, GENTEX, Honeywell, Johnson Controls, Halmaplc, HOCHIKI Corp., Napco Security, NITTAN Corp., Robert Bosch, Siemens, Space Age Electronics, & United Technologies.

Recent Developments

  • In April 2022, RapidFire Safety partnered with the Concentric Equity Partners. Through this collaboration, RapidFire Safety & Security is well-positioned to acquire established businesses in various states, including Missouri, Arizona, California, Texas, & adjacent regions. These acquisitions will be focused on businesses owned by individuals who prioritize their workforce and are interested in joining customer-centric companies dedicated to achieving stable growth through efficient operations and enhanced service offerings.

Fire Alarm and Detection Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 36.9 billion

Revenue forecast in 2032

USD 65.44 billion

CAGR

7.40% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Product, By Detectors Type, By Alarm Type, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Eaton, GENTEX, Honeywell, Johnson Controls, Halmaplc, HOCHIKI Corp., Napco Security, NITTAN Corp., Robert Bosch, Siemens, Space Age Electronics, & United Technologies.

FAQ's

The global fire alarm and detection market size is expected to reach USD 65.44 billion by 2032.

Key players in the fire alarm and detection market are increasing adoption of fire safety systems.

North America contribute notably towards the global fire alarm and detection market.

The global fire alarm and detection market is expected to grow at a CAGR of 7.4% during the forecast period.

The fire alarm and detection market report covering key segments are product, detectors type, alarm type, application, and region.