Fire Safety Equipment Market is Booming Worldwide According to New Research Report
According to our latest market study on “Fire Safety Equipment Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Solution, Technology, and Application,” the market was valued at US$ 10,362.1 million in 2019 and is projected to reach US$ 13,562.9 million by 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027.
The construction industry holds a remarkable position across the globe. In buildings, the owners are using advanced fire safety products to prevent any fire related incidents. The construction companies, contractors, and building owners, as well as government employees are including fire safety in their respective buildings. There are codes and standards developed which states that buildings must have sprinklers, extinguishers, fire alarms, and other fire safety products for protecting people. The hotels, dwellings, high-rise buildings, malls, office buildings, and more are having built-in fire safety equipment to prevent loss during fire.
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The report segments the global fire safety equipment market as follows:
By Solution
Detection
Suppression
By Technology
Active Fire Protection Systems
Passive Fire Protection Systems
By Application
Commercial
Industrial
Residential
The global fire safety equipment market is fragmented into five major regions—North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and South America (SAM). North America held the largest share of the fire safety equipment market in 2019, followed by Europe and Asia Pacific. Further, Asia Pacific is projected to witness the highest growth rate during the forecast period.
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The top five companies in the air quality sensors market Bosch Sicherheitssysteme GmbH, Eaton Corporation Plc, Gentex Corporation, Halma Plc, and Nittan Company, Ltd. The above listing of key players is derived by considering multiple factors such as overall revenue, current air quality sensors solution portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global air quality sensors market ecosystem, such as Hochiki Corporation, Honeywell International Inc., Johnson Controls, Inc., Napco Security Technologies, Inc., and Siemens AG
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