The global fire safety equipment market is expected to reach USD 43.60 billion by 2022, according to a new report by Grand View Research, Inc. Emerging technologies such as wireless sensor networks coupled with stringent safety regulations across the globe resulting in extensive use of advanced devices is expected to play a vital role in augmenting demand over the next seven years.
Stringent enforcement of building and safety codes are expected to increase penetration of these devices in infrastructure and construction segment. Growing adoption of advanced detection technologies and environment-friendly suppression agents is projected to play a vital role in shaping market dynamics.
Growing use of fire safety equipment in critical mass transportation infrastructure such as airports and intelligent transportation systems is expected to open new avenues for industry growth. Radically growing commercial sector, rapid industrialization and growing overall real estate industry in the developing countries is anticipated to fuel the demand.
However, the inconsistent enforcement of these codes is challenging manufacturers across the globe. Additionally, the rising maintenance and replacement services can hinder industry demand.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/fire-safety-equipment-market
U.S. fire safety equipment market share by solution, 2012 – 2022 (USD Million)
Further key findings from the report suggest:
·
The fire detectors market has significant growth
opportunities owing to continuous innovations in smart home automation related
applications. The industry is estimated to grow at a CAGR of over 7.5% by 2022.
Further, increased adoption of safety standards and norms in industrial sectors
such as power, oil & gas and transportation are also anticipated to fuel
their demand.
·
The demand for fire suppression equipment across
industrial applications is estimated to grow at a CAGR of over 9.0% from 2015
to 2022. Oil & gas is the primary field responsible for the expansion of
these devices on a large scale. Rising investment of companies for safeguarding
the infrastructure and reducing the loss of property and life across different
commercial applications is estimated to further propel demand across the
commercial sector.
·
Asia Pacific fire safety equipment market is
estimated to grow at a CAGR of over 12.5% from 2015 to 2022. Growing economy
combined with expanding construction sector offers a strong platform for
investments across the region. Rising number of fire accidents across countries
such as China, India are highlighting the need for better safety standards
across varied commercial segments. Additionally, growing number of SMEs and
enterprises are also anticipated to propel market growth
·
Key industry participants include Honeywell
International, Tyco International, Bosch GmbH, Siemens Building Technologies
and United Technologies.
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this category @ http://www.grandviewresearch.com/industry/sensors-and-controls
Grand View Research has segmented the fire safety equipment market on the basis of solution, product, application and region:
Fire Safety Equipment Solution Outlook (Revenue, USD Million, 2012 – 2022)
·
Fire detection
·
Fire suppression
Fire Detection Equipment Product Outlook (Revenue, USD Million, 2012
– 2022)
·
Fire detectors
·
Flame
·
Smoke
·
Heat
·
Fire alarms
Fire Detection Equipment Application Outlook (Revenue, USD Million,
2012 – 2022)
·
Commercial
·
Industrial
·
Residential
Fire Suppression Equipment Product Outlook (Revenue, USD Million,
2012 – 2022)
·
Fire extinguishers
·
Gas
·
Water
·
Dry chemical powder
·
Others
·
Fire sprinklers
Fire Suppression Equipment Application Outlook (Revenue, USD
Million, 2012 – 2022)
·
Commercial
·
Industrial
·
Residential
Fire Safety Equipment Regional Outlook (Revenue, USD Million, 2012 –
2022)
·
North America
·
U.S.
·
Canada
·
Europe
·
Germany
·
UK
·
Asia Pacific
·
China
·
India
·
Japan
·
Latin America
·
Brazil
·
Mexico
·
MEA
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