Fire Protection Systems Market
The Global Fire Protection Systems Market size is estimated to be USD 60.84 billion in 2019 and is predicted to reach USD 133.42 billion by 2030 with a CAGR of 7.4% from 2020-2030.
Fire Protection Systems consist of various certified products by the various government bodies which help to control the fire outbreak. These equipment’s have to be checked on timely basis to maintain its effectiveness and replacement in case of expiry. These systems cons of various products such as flame detectors, smoke detector, sprinkler, fire extinguisher and various other products. In commercial buildings, now-a-days sensors are used for quick response in case of fire outbreak.
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Top Companies: Hochiki Corporation, Gentex Corporation, Robert Bosch GmBH, Honeywell International Inc., Tyco International Ltd, Halma PLC, Trelleborg AG, Siemens AG, United Technologies Corporation, Kevta Fire Systems Inc., VT MAK, Orcus Fire & Risk Inc., Johnson Controls, Gielle SRL, and 3M Company and others.
The global fire protection systems market share is analyzed on the basis of technology, system, industry, application and geography. On the basis of technology, the market is segmented into coating, bulkheads, sealant, and others. On the basis of system, the market is divided into Detection Systems, Alarm Systems, Suppression Systems, and Others. On the basis of application, the market is divided into Active Protection and Passive Protection. On the basis of Industry, the market is divided into Active BFSI, Hospitality & Travel, Healthcare, Transportation & Logistics, Manufacturing, Retail, Mining and Oil & gas and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America is anticipated to hold the major market share owing to the increased adoption of fire protection system with technological advancement. Furthermore, stringent government policies with regards to the safety, developed infrastructure coupled with increased awareness are expected to be the major contributing factors over the forecast period. Asia Pacific is anticipated to develop rapidly with gradual increase in market size over the forecast period. Moreover, the presence of emerging economies, coupled with developing infrastructure coupled with increased demand of customized fire protection system market is expected to further augment the growth of fire protection systems market.
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