PUBLISHER: Grand View Research | PRODUCT CODE: 1633813
PUBLISHER: Grand View Research | PRODUCT CODE: 1633813
The Europe and Americas fire protection market size is expected to reach USD 56.03 billion by 2030, registering a CAGR of 7.1% from 2025 to 2030, according to a new report by Grand View Research, Inc Rapid technological advancements in the oil and gas industry, coupled with favorable government regulations regarding fire protection is anticipated to drive the growth.
Fire protection forms an integral part of structural steel safety in various industries, including oil and gas and chemical, wherein the risk associated with fire accidents is high. The integration of surveillance and detection systems and the increasing use of wireless and IP technologies that are replacing the traditional telephone lines are expected to propel growth.
Growing demand for low smoke and lightweight materials is expected to increase R&D activities in the passive fire protection market, thereby propelling the overall market growth. The rising spending capacity of consumers, coupled with the growing demand for safe buildings to reduce the loss of life and asset and increase human safety, is expected to complement growth.
Favorable government regulations in North America, such as mandates regarding fire safety plans as well as adherence to the safety codes according to the building use or occupancy, are likely to impact the adoption of protection systems positively. Furthermore, increasing expenditure on the protection of assets from hazards and considerable infrastructural growth across various economies is fueling the demand.