Protection system

Global Fire Protection Systems Market Outlook to 2028 – With Eaton, Fire Suppression, and Hitachi Among Others – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Fire Protection Systems Market Share, Size, Trends, Industry Analysis Report, by Product, by Service, by Application, by Region; Segment Forecast, 2021-2028” report has been added to from ResearchAndMarkets.com offer.

The global fire protection systems market size is expected to reach $95.22 billion by 2028 according to a new study. The report provides a detailed overview of current market dynamics and provides analysis of future market growth.

Major market factors such as rising penetration of smoke detectors embedded with Internet of Things (IoT) and big data coupled with increasing number of government policies and standards relating to flame protection are propelling the demand. Additionally, the rising volume of human and material losses due to the flame outage and escalating construction activities in various industries is fueling the growth of the industry.

Furthermore, the launch of several solutions in the flame protection solution also attributes to the growth of the industry. For example, in November 2020, Johnson Controls introduced the company’s Smart Fire Sprinkler Monitoring solution, which features a 24/7 monitoring facility using the cloud, reduces building damage, manages operational downtime and prevents system failures.

Based on applications, the commercial application segment held the largest share of global industry revenue in 2020 due to the growing number of government standards to control and prevent fire disasters. While the industrial application segment is expected to grow at a significant rate during the forecast period owing to the growing need to protect automated systems from flame accidents.

Implementing flame protection solutions improves worker safety and reduces the risk of property damage. For example, in Europe, a minimum of 5,000 flame incidents take place every day; therefore, fire protection in buildings is an important measure throughout the region.

Market dynamics

Drivers and opportunities

  • Fire-related accidents

  • Favorable government regulations

Constraints and challenges

The publisher has segmented the Fire Protection Systems market report on the basis of product, service, application, and region:

Fire Protection System Product Outlook (Revenue – USD Billion, 2016 – 2028)

  • Fire detection

  • Fire suppression

  • response to fire

  • Fire analysis

  • Fire sprinkler system

Fire Protection System, Service Outlook (Revenue – USD Billion, 2016 – 2028)

  • Managed Service

  • Installation and design service

  • Maintenance service

  • Other services

Fire Protection System, Application Outlook (Revenue – USD Billion, 2016 – 2028)

  • Commercial

  • Industrial

  • Residential

Fire Protection System, Regional Outlook (Revenue – USD Billion, 2016 – 2028)

  • North America

  • we

  • Canada

  • Europe

  • Germany

  • UK

  • Italy

  • France

  • Spain

  • Austria

  • Netherlands

  • Asia Pacific

  • China

  • Japan

  • India

  • Indonesia

  • Malaysia

  • South Korea

  • Latin America

  • Mexico

  • Brazil

  • Argentina

  • Middle East and Africa

  • United Arab Emirates

  • Saudi Arabia

  • Israel

  • South Africa

Companies cited

  • eaton

  • Global Carrier

  • Fike Corporation

  • GENTEX CORPORATION

  • Fire Suppression Ltd.

  • Halma plc

  • HOCHIKI Company

  • Hitachi Ltd.

  • Honeywell International Inc.

  • Johnson Controls

  • Iteris Inc.

  • Minimax Viking GmbH

  • Napco Security Technologies Inc.

  • MSA

  • Robert Bosch GmbH

  • Raytheon Technologies Corporation

  • AG Security

  • Schrack Seconet SA

  • Siemens

For more information on this report, visit https://www.researchandmarkets.com/r/e5hiji