PUBLISHER: The Business Research Company | PRODUCT CODE: 1429431
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429431
Fire detection equipment plays a crucial role in minimizing the impact of fires by issuing warning signals, whether audio or visual, upon detecting signs of a fire. Detection methods involve identifying smoke, heat, or flames.
The primary product categories of fire detection equipment include flame detectors, smoke detectors, and heat detectors. A heat detector is an alarm system designed to identify a rise in air temperature resulting from flames. The connectivity options for fire detection equipment include wired and wireless configurations. Various industries employing this equipment encompass banking, financial services, and insurance (BFSI), hospitality and travel, healthcare, transportation and logistics, manufacturing, retail, mining, oil and gas, among others.
The fire detection equipment market research report is one of a series of new reports from The Business Research Company that provides fire detection equipment market statistics, including fire detection equipment industry global market size, regional shares, competitors with a fire detection equipment market share, detailed fire detection equipment market segments, market trends and opportunities, and any further data you may need to thrive in the fire detection equipment industry. This fire detection equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fire detection equipment market size has grown strongly in recent years. It will grow from $8.34 billion in 2023 to $9.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The expansion observed in the historical period can be credited to governmental backing that prioritizes safety, a surge in the occurrence of fire incidents, a rise in commercial infrastructure, economic growth, and swift urbanization.
The fire detection equipment market size is expected to see rapid growth in the next few years. It will grow to $13.88 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the forecast period can be ascribed to advancements in technology, an upswing in the construction sector, heightened demand from end-user industries, stringent safety regulations, and the increasing adoption of wireless technology in fire detection. Notable trends in the forecast period involve the incorporation of smoke detectors into home automation systems to enhance security and control for consumers, the consideration of advanced smoke detectors in commercial structures to ensure the safety of individuals and businesses, the integration of the Internet of Things (IoT) into fire detectors for enhanced technological capabilities, offering features such as voice assistance to provide convenience and cater to specific needs of certain segments of the population with disabilities, manufacturing and incorporating features of smart smoke detectors, multi-criteria fire detectors, beam smoke and fire detectors, heat detectors, visual fire detectors and alarms, intelligent smoke and fire detectors, and embracing wireless technologies.
The growth of the fire detection equipment market is significantly influenced by stringent government regulations and mandates concerning fire detection measures. Internationally, various government agencies have enforced laws mandating the installation of fire safety equipment in organizations to ensure the safety of employees. For example, the U.S. government, following the 15 U.S. Code 2227, requires the installation of fire safety systems with appropriate warning signals in federally assisted buildings. The growing emphasis on safety by government agencies has resulted in an increased demand for fire detection equipment in the market.
The rising incidents of fire-related fatalities and casualties are expected to drive the growth of the fire detection equipment market in the foreseeable future. Fire-related fatalities refer to instances where individuals lose their lives directly due to a fire, while fire-related casualties encompass both fatalities and non-fatal injuries resulting from a fire, such as burns, smoke inhalation, and other fire-related harm. Fire detection equipment plays a pivotal role in mitigating fire-related fatalities and casualties by providing early warnings and facilitating swift response measures. As an illustration, a report by the Home Office, a UK-based ministerial department, revealed that in 2023, there were 561 hospital admissions due to severe injuries, constituting 9.1% of all non-fatal casualties, marking a 2.4% increase from 2022. Additionally, 1,836 precautionary checks were recommended, representing 30% of all non-fatal casualties and reflecting a 2.6% increase from 2022. Consequently, the escalating occurrences of fire-related fatalities and casualties are steering the growth of the fire detection equipment market.
Entities in the fire detection equipment market are incorporating Infrared technology to minimize false alarms and improve the responsiveness of alarm systems to actual fires. The utilization of Infrared technology enhances a detector's fire detection capabilities even in dusty atmospheres. For example, MSA Safety Incorporated, a U.S.-based company specializing in advanced safety products, introduced the FL4000H multi-spectrum IR flame detector. This device utilizes multi-spectrum IR (Infrared) to detect flames up to 210 feet away while also monitoring and minimizing false alarms. The flame recognition technology employed by the device analyzes near IR radiation to confirm fires, ensuring more effective and reliable results.
Major companies in the fire detection equipment market are actively engaged in the development of advanced multi-sensor detectors and algorithms to maintain a competitive advantage. Advanced multi-sensor detectors, when combined with sophisticated algorithms, enhance the precision of fire detection by consolidating data from various sensors to promptly identify and alert to potential fire hazards. As an illustration, in August 2022, Honeywell International Inc., a U.S.-based technology company specializing in aerospace, automotive products, and control systems, introduced the Morley MAx fire detection and alarm system featuring advanced multi-sensor detectors and algorithms. This system utilizes intelligent algorithms, in tandem with straightforward boolean logic shared across the Controller Area Network (CAN) bus network, to achieve faster and more efficient fire detection. The system is designed for future readiness and incorporates connected building tools and monitoring systems to streamline the commissioning of extensive fire detection networks.
In November 2021, Bosch Sicherheitssysteme GmbH, a Germany-based provider of security and safety products and services, acquired Protec Fire and Security Group Ltd. for an undisclosed amount. The acquisition aimed to expand Bosch Building Technologies' business and strengthen its presence in the European market. Protec Fire and Security Group Ltd. is a UK-based provider of fire detection equipment.
Major companies operating in the fire detection equipment market report are Siemens AG, Johnson Controls, Carrier Global Corporation, Honeywell International, Robert Bosch, Schneider Electric, Hochiki Corporation, Assa Abloy, Securiton AG, Halma, Protec, Rubezh, Ajax, Pozhtechnika, SATEL, NAPCO Security Technologies, Encore Fire Protection, VEP Fire Systems, Kidde fire safety, Ras Al Khaimah Safety and Security System LLC, C.G. Technology L.L.C, Speed Fire & Safety Equipment L.L.C, A One Technology Fire Safety & Security Systems LLC, Eversafe Fire & Safety Equipment LLC, Alnahrain Security & Safety, Tyco, UTC, Viking, Fike Corporation.
North America was the largest region in the fire detection equipment market in 2023. Asia-Pacific was the second largest region in the global fire detection equipment market share. The regions covered in the fire detection equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the fire detection equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The fire detection equipment market consists of sales of equipment used for fire detection and warning people when the presence of fire is detected. This equipment does not intervene in the fire suppression. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fire Detection Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fire detection equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fire detection equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fire detection equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.