Fire Safety Equipment Industry Is Likely To Surge At A CAGR ...| MENAFN.COM

Monday, 06 February 2023 01:40 GMT

Fire Safety Equipment Industry Is Likely To Surge At A CAGR Of 6.4% By 2032


(MENAFN- Ameliorate Digital Consultancy)

According to the analysis, the global fire safety equipment market is anticipated to be worth US$ 49 billion in 2022, with a market value of US$ 91.11 billion expected by 2032. During the predicted period of 2022 to 2032, the projected growth rate is 6.4%.
The rising need for efficient fire safety equipment in the automotive, industrial, energy and power, mining, and construction industries is expected to propel the market significantly in the approaching years.

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The Fire Safety Equipment Market research provides a complete analysis of the business models, significant market dynamics, including the drivers, restraints, trends, and opportunities, key business models, and respective market shares of some of the top prominent players in the market. The comprehensive study offers market revenue data, segment-specific data, regional data, and territorial data in addition to a thorough analysis of the key driving forces. The main objective of the Fire Safety Equipment Market study is to provide unique information on the market's expected growth from 2022 to 2032

Key Companies Profiled

  • Johnson Controls
  • Siemens Building Technologies
  • United Technologies Corp
  • Eaton Corp., Inc.
  • Gentex Corp.
  • Space Age Electronics
  • Hochiki Corp.
  • Honeywell International, Inc.

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Rapid urbanisation has created a huge need for efficient fire safety equipment, which is expected to significantly boost the market throughout the forecast period. The implementation of building safety rules and sophisticated conduct has given the market a major boost.

Furthermore, technological advancements such as wireless alarm systems, water mist technologies, and smoke detectors are expected to benefit the sector in the near future. Furthermore, rising awareness about fire safety equipment is likely to drive market growth.

According to the report, the industrial application sector will account for over 40% of the global market in 2022. The segment's growth can be attributable to rising demand for fire safety products from industries such as transportation, oil & gas, and manufacturing. Furthermore, the severe rules set by various governments are a significant element promoting segmental growth during the anticipated year.

The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Key Segments Covered in the Fire Safety Equipment Industry Report

  • By Application
    • Fire Safety Equipment for Residential Applications
    • Fire Safety Equipment for Commercial Applications
    • Fire Safety Equipment for Industrial Applications
  • By Solution
    • Fire Suppression Equipment
      • Extinguisher
      • Sprinkler
    • Fire Detection Equipment
      • Detector
      • Alarm

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