Fire Protection System Market Is Expanding At A CAGR Of 9.1%...| MENAFN.COM

Friday, 03 February 2023 04:32 GMT

Fire Protection System Market Is Expanding At A CAGR Of 9.1% By The End Of 2026

(MENAFN- Ameliorate Digital Consultancy)

Global Market Study on Fire Protection Systems: Stringent Fire Safety Regulations to Drive Revenue Growth Through 2026

fire protection system market

The global FPS (Fire Protection Systems) market is estimated to be valued at US$ 41.7 Bn by the end of 2018 and is anticipated to reach US$ 83.5 Bn by the end of 2026 while expanding at a CAGR of 9.1% over the forecast period. The global FPS (Fire Protection Systems) market is anticipated to create incremental opportunity of US$ 41,772.2 Mn between 2018 and 2026.

This published report for Fire Protection System Market analyzes and forecasts the marketing statistics of the product/service market on a global as well as the regional level. This detailed study Fire Protection System Market also offers the previous historical data along with the forecast from 2022 to 2030. The assessment of Fire Protection System Market factors gives a brief overview of the impact on the demand over the forecast period. In addition to this, the report also studies the opportunities that are available in the report at the global level. An executive summary is also provided based on the industry snapshot for the period from 2022-2030.

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Drivers & Constraints

Fire Protection System Market introduces the building blocks of the report with the influence of market dynamics and functioning and a need to understand customer behavior. The increase and decrease in the product/service budget also play an important role in predicting the future growth of Fire Protection System Market. Besides, the high deployment cost of product/service, and other restraints are also pointed out in the report. Fire Protection System Market report also studies the value, volume trends and pricing history of the market so that the pattern and layout are also evaluated for the advanced study of the market over the forecast period.

Key Companies-

  • Consilium AB
  • Hochiki Corporation
  • Johnson Controls International Plc
  • United Technologies Corporation
  • Yamato Protec Corporation
  • Robert Bosch GmbH
  • Siemens AG
  • Honeywell International, Inc.
  • Swastik Synergy Engineering Private Limited
  • Gentex Corporation
  • Solas Fire Safety Equipment (P) Ltd.
  • Gunnebo AB
  • Others.

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Stellar Growth Anticipated for Fire Protection Systems

As per a recently released intelligence study by Persistence Market Research (PMR), the global revenue generated through the sales of fire protection systems, will exceed the valuation of US$ 45.2 Bn in 2019. With the increasing demand for modern warehouses, global players in the fire protection systems market have started foraying into the nascent markets, says the report.

In the wheel of fortune, the PMR report on fire protection systems has placed product type, end-use, and regional segments, in different growth quadrants-ranging from slow-to high growth quadrant.

  • Significant demand for fire suppression systems spotted: In terms of product type, while fire detection systems occupy a position in the steady growth quadrant, fire extinguishers and fire response systems are projected to represent moderate growth through the forecast period. Fire suppression systems, on the other hand, lies in the high growth quadrant, arising from increasing safety standards. The segment analysis is indicative of a highest market share-at nearly 52 percent-held by fire suppression systems.
  • Industrial deployments to fetch maximum revenue: On the basis of end-use, fire protection systems will witnessed increased adoption in the industrial sector, lying in the high growth quadrant. While commercial sector showcases moderate rate through the assessment timeline, adoption of fire protection systems in the residential sector lies in the steady growth quadrant. An-depth analysis of the end-use segment, indicates approximately 38 percent market share held by the industrial sector.

  • Emerging economies hold notable market potential: South East Asia & Pacific and China-both holding a position in the high growth quadrant are identified as the most lucrative revenue pockets in the global fire protection systems market. With this region, India is projected to be the most lucrative country, in the coming years, considering burgeoning manufacturing sector in the region.

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Apart from North America, which holds a position in the steady growth quadrant, Latin America, Europe, and Middle East and Asia (MEA) are represented as moderately growing regions, in the global fire protection systems market. Increasing greenfield investments in MEA is projected to fuel the demand of safety equipment such as fire protection systems. North America and Europe are also expected to pump significant revenue into the global fire protection systems market, owing to stringent safety and security solutions.

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About the Industrial Automation at Persistence Market Research

Expert analysis, actionable insights, and strategic recommendations – the industrial automation team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on IT & Telecommunications of which 100+ reports specific for IT & Telecommunications. The team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the IT & Telecommunications industry.

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