Fire Safety Equipment Market Share, Size, Trends, Industry Analysis Report, By Type (Fire Detection, Fire Suppression, Fire Analysis, Fire Response, Others); By Technology; By Solution; By End-Use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jun-2024
- Pages: 116
- Format: PDF
- Report ID: PM1410
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Fire safety equipment market size was valued at USD 26.00 billion in 2023. The market is anticipated to grow from USD 27.64 billion in 2024 to USD 46.30 billion by 2032, exhibiting the CAGR of 6.7% during the forecast period.
Fire Safety Equipment Market Overview
The fire safety equipment market is experiencing rapid growth as it encompasses a range of devices designed to ensure the safety and protection of individuals in the event of fire incidents. These essential tools serve to alert, shield, aid, and provide medical assistance, safeguarding users from potential harm. Fire safety equipment comprises various items such as fire extinguishers, signs, fire blankets, fire hose reels, sprinklers, smoke alarms, and first aid kits, among others. Its utilization extends to residential properties, commercial establishments, healthcare facilities, industrial plants, and educational institutions, among other settings. The increasing awareness of fire hazards and the significant rise in building infrastructure development activities are also anticipated to have a significant impact on the market. Organizations worldwide are allocating more resources toward ensuring the safety and security of their infrastructure to minimize human losses.
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- For instance, in January 2024, TIO FIRE Safety announced an innovative partnership with HAES in the UK, which produces addressable, conventional, and marine fire alarm control panels. This collaboration marks a significant advancement in the fire safety industry, as it combines Tio's app with every HAES fire alarm panel to offer a thorough safety and compliance solution.
However, the market is expected to witness growth in the coming years due to increased spending on new construction projects and the replacement of outdated fire alarms, sprinklers, and detectors. The implementation of fire safety codes for building and renovation projects is expected to drive the demand for fire safety equipment further globally.
Moreover, the market's growth will also be driven by the implementation of laws and regulations that require the installation of fire safety equipment in various industries and sectors. Additionally, the market is expected to benefit from the availability of technologically advanced equipment and improved networking capabilities, which enable effective communication between fire detection solutions and fire suppression systems.
Fire Safety Equipment Market Dynamics
Market Drivers
- Technological Advancements in Fire Safety Equipment
The advancements in wireless sensor networks and the growing adoption of wireless fire-sensing devices are driving the growth of this market. The development of sensor technologies and the subsequent introduction of smart wireless systems have greatly enhanced the use of electronic components in fire safety devices. These improved devices offer heightened sensitivity and rapid response to emergencies. The components used are of high precision and use enhanced materials for manufacturing.
- Increasing Stringency of Building Codes
Strict regulations within the fire safety equipment market involve a variety of rules designed to improve the safety of buildings and are driving the growth of this market. These include the installation of fire detection and suppression systems in both commercial and residential structures. Additionally, building codes may generate the need for emergency evacuation plans, access for fire department personnel, and regular inspections and maintenance of fire safety equipment to ensure it functions properly. Adhering to these stringent building codes is crucial for architects, engineers, contractors, and building owners to secure permits and approvals for construction projects.
Market Restraints
- High Maintenance and Service Costs
High maintenance and service costs impede the growth of this market; the adoption of these products in various cost-conscious sectors and businesses, ensuring that cutting-edge systems are reasonably priced, is essential for manufacturers to experience consistent growth during the forecast period. The recent widespread use of cost-effective systems and components is expected to result in their extensive acceptance by small and medium-sized enterprises, ultimately guaranteeing favorable growth opportunities for the fire safety equipment market.
Report Segmentation
The market is primarily segmented based on type, technology, solution, end-use, and region.
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By Technology |
By Solution |
By End-Use |
By Region |
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Fire Safety Equipment Market Segmental Analysis
By Technology Analysis
- The active fire safety segment dominated the market owing to the initiation of action resulting from active fire protection prompted by an alert or signal. This action aims to contain, suppress, or extinguish a fire that has already commenced. Upon receiving a signal, these systems will activate a response, such as notifying the fire department, activating a system like an aerosol fire suppression total flooding system, or closing fire doors. The presence of functional fire alarm systems and fire suppression systems significantly enhances the active fire safety segment.
- The passive fire safety segment is projected to grow at a CAGR during the projected period, mainly driven by its collection of immovable barriers such as fire-resistant walls, floors, and doors that are employed to divide a structure into sections in order to confine fire and smoke, preventing the fire from spreading throughout the entire building. The primary objective is to safeguard human lives and minimize the extent of damage to both the building and its contents while also reducing operational disruption for businesses.
By Solution Analysis
- The detection segment accounted for the largest market share and is likely to retain its market position throughout the forecast period. Detecting smoke or heat is essential to alerting individuals of a possible fire. Ensuring a dependable fire alarm system is in place is vital to ensure timely warnings and safe evacuation. Different types of fire alarms, such as ionization and photoelectric detectors, are available. It is advisable to seek guidance from fire safety professionals to evaluate the building's needs and install an appropriate fire alarm system.
- The suppression segment is expected to grow at the fastest growth rate over the next few years on account of the continuing need for fire extinguishers and fire hoses. The cost of fire extinguishers is decreasing, making them more accessible to businesses and individuals seeking protection against fires. Additionally, fire hoses are being utilized by businesses and individuals alike to extinguish fires effectively.
By End-Use Analysis
- The industrial segment dominated the market due to the significant emphasis on the implementation of fire safety equipment due to the elevated level of risk involved. The presence of flammable materials renders the oil and gas sectors especially susceptible to fire incidents. The requirement for fire safety equipment is primarily motivated by governmental regulations aimed at safeguarding workers against fire accidents.
- The residential segment is anticipated to grow with the fastest CAGR owing to the installation of fireproof doors and fire-resistant materials essential in preventing the spread of fire within a building. Fireproof doors are specifically designed to withstand high temperatures and block the passage of smoke and flames in areas such as stairwells and fire-rated corridors. Moreover, incorporating fire-resistant materials like walls and ceilings can help slow down the advancement of fire, giving occupants more time to evacuate safely.
Fire Safety Equipment Market Regional Insights
The North America Region Dominated the Global Market with the Largest Market Share
The North America region dominated the global market with the largest market share and is expected to maintain its dominance over the anticipated period. The growth of the segment market can be largely attributed to strict regulations, urbanization, and a strong focus on fire safety. The region's solid infrastructure, along with investments in construction projects, boosts the demand for advanced fire safety equipment. Furthermore, proactive fire prevention measures, smart fire detection systems, and efficient emergency response strategies maintain the region's prominence in the global fire safety equipment market.
The Asia Pacific region is expected to be the fastest growing region with a healthy CAGR during the projected period, owing to the rise in urbanization and industrialization in developing countries is projected to drive the need for fire safety equipment in the area. Additionally, the abundance of sensor manufacturers and the substantial production of fire safety equipment are key factors that are predicted to support the expansion of this sector in the coming years.
Competitive Landscape
The fire safety equipment market is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- Eaton Corp, Inc.
- Gentex Corp.
- Honeywell International, Inc.
- Johnson Controls
- Napco Security Technologies, Inc.
- Nittan Company Ltd.
- Robert Bosch GmbH
- Siemens Building Technologies
- Tyco International PLC
- United Technologies Corp.
Recent Developments
- In October 2023, NBC Bearings formed a collaboration with FOGTEC to offer advanced fire detection and suppression systems to the Indian Railways. NEI will be responsible for managing FOGTEC's product promotion, supply, installation, commissioning, and post-sales service for the Indian Railways.
- In September 2023, Dubai-based Naffco announced its plans to establish a manufacturing plant in Telangana. In addition, Naffco will partner with the National Academy of Construction (NAC) in Telangana to establish a Fire Safety Training Academy.
Report Coverage
The fire safety equipment market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, type, technology, solution, end-use, and their futuristic growth opportunities.
Fire Safety Equipment Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 27.64 billion |
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Revenue forecast in 2032 |
USD 46.30 billion |
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CAGR |
6.7% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Type, By Technology, By Solution, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The key companies in Fire Safety Equipment Market are Honeywell International, Inc., Johnson Controls, Napco Security Technologies, Inc
Fire safety equipment market exhibiting the CAGR of 6.7% during the forecast period
Fire Safety Equipment Market report covering key segments are type, technology, solution, end-use, and region
The key driving factors in Fire Safety Equipment Market are Technological Advancements in Fire Safety Equipment
Fire Safety Equipment Market Size Worth $ 46.30 Billion By 2032
