Fire Protection System Market Size, Share & Trends Analysis Report By Product (Fire Detection, Fire Suppression, Fire Response, Fire Analysis, Fire Sprinkler System), By Service, By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global fire protection system market size was valued at USD 72.72 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030. In 2020, the outbreak of the COVID-19 pandemic negatively impacted the market. Furthermore, owing to the rise in the number of COVID-19 cases due to the second wave of the outbreak, a partial lockdown in several countries was observed. This resulted in a further reduction in the production of new fire protection systems. The market was also negatively impacted by the supply chain disruption across countries and regions. However, post the pandemic, the fire protection market is expected to witness growth. The growing urban population and the need to safeguard life and the environment from fire emergencies are expected to boost the demand for fire protection systems.

A fire protection system is one of the most crucial systems required to be installed in any building or establishment. A fire protection system is used to control, detect, and safeguard inhabitants in a building or an establishment from fire hazards. These systems help extinguish smoke or fire and alert the building occupants, reducing the loss of property and life. Fire protection systems include equipment such as fire detectors, fire response systems, fire analysis software, fire suppression systems, and fire sprinkler systems. These fire protection systems are installed in various infrastructures, including industrial buildings, residential buildings, and commercial buildings, to safeguard people and reduce the loss of destruction from fire hazards.

Initially, the adoption of fire protection systems in several developing countries was low compared to developed nations. This was mainly due to the lack of awareness among consumers regarding the product as well as reduced regulatory pressure. However, the efforts from various systems integrators, manufacturers, and dealers have created widespread awareness among users. The launch of fire safety programs and the use of targeted marketing explaining the benefits of a fire protection system have drawn the attention of large as well as small and medium enterprises. This has led to steady market growth over the past few years.

The construction of new properties, including residential and non-residential, is expected to offer new opportunities for installing fire alarm and detection systems. The commercial and industrial areas majorly use fire protection systems for employee safety. Furthermore, an increase in the number of property damage due to fire accidents drives the market. Moreover, the market for fire protection systems is driven by the regulations, standards, and codes imposed by different regulatory bodies. The growing standard has impelled organizations to install fire protection systems. These factors are expected to boost the growth of the market over the forecast period.

Product Insights

The fire detection segment accounted for more than 50.0% share of the global revenue in 2021. A fire detection system comprises various devices working collectively, which help detect and warn people through video and audio equipment during an incident involving smoke, carbon monoxide, fire, or other emergencies. Regulatory requirements by various organizations, such as the National Fire Protection Association by the United States and the Building Code Australia, have mandated the installation of fire detection systems, hence boosting the demand for these systems.

The fire analysis segment is expected to register the highest CAGR of 13.6% from 2022 to 2030. The segment growth can be attributed to the increasing need for fire analysis, which helps make proper decisions during fire prevention. Fire analysis commonly uses fire modeling and simulation software and fire mapping and analysis software. It is an essential part of a fire protection system as it facilitates well-versed decision-making, which leads to maximum efficiency.

Service Insights

The installation and design service segment accounted for more than 40.0% share of the global revenue in 2021. Installation and design services refer to the practice of outsourcing the solution for design, development, upgrades documentation and installing processes of the fire protection system. Fire protection systems are being installed across buildings of all sizes as inhabitants increasingly understand the benefits they offer in small, mid-size, and large buildings. Furthermore, installation and design services are increasingly preferred due to the subject-matter expertise offered by vendors. This is driving the demand for installation and design services in the market.

The maintenance services segment is expected to register the highest CAGR of 6.8% from 2022 to 2030. Fire protection systems play a vital role in detecting and alerting people in the event of smoke or fire; however, any fault in the system may lead to accidents and asset losses. Therefore, regular maintenance is necessary to reduce the risks of failure and extend the life of the system. Maintenance service includes timely audit and service of fire protection equipment to ensure that fire protection systems meet all the essential fire safety standards during an emergency.

Application Insights

The commercial application segment dominated the market and accounted for more than 45.0% share of the global revenue in 2021. The commercial application segment comprises applications for retail, BFSI, government, healthcare, and telecom and IT educational institutions. The demand for fire protection systems in commercial applications is increasing due to the formulation of stringent government rules for fire prevention and control across the globe. Furthermore, increasing investments by companies to reduce the loss of property and life and safeguard the infrastructure is expected to fuel the demand for fire protection systems.

The industrial application segment is expected to register the highest CAGR of 7.8% from 2022 to 2030. The industrial application covers major sectors such as oil and gas, mining, energy and power, and manufacturing. The need to safeguard automated systems from fire accidents is expected to fuel the growth of the segment. Furthermore, in the fire-prone sector, the emphasis is on installing complete proof protection and prevention systems in the industries and on stringent government rules. This is expected to further drive the industrial segment.

Regional Insights

North America dominated the market for fire protection systems and accounted for over 35.0% share of the global revenue in 2021. This can be attributed to the rising demand for intelligent houses and smart buildings, which deliver optimum safety. Furthermore, North America has a strong presence of fire protection system manufacturers such as Raytheon Technologies Corporation; GENTEX CORPORATION; and Honeywell International Inc. These companies are actively involved in spreading awareness via marketing programs regarding fire protection systems.

Asia Pacific is expected to register the highest CAGR over the forecast period. Asia Pacific is a developing region and countries such as India, China, and Japan are expected to drive the regional market. Furthermore, growing urbanization and rising awareness among the consumers are expected to contribute to the growth of the market in this region over the forecast period.

Key Companies & Market Share Insights

Major players are adopting strategic initiatives and undertaking measures to gain benefits from the opportunities in the emerging market. The key companies in the market have launched new advanced products to meet the evolving customer needs. For instance, in November 2021, Johnson Controls launched the Smart Fire Sprinkler Monitoring solution. This solution offered 24/7 monitoring capabilities via cloud, supported operational downtime, reduced building damage, and prevented system failure.

Furthermore, in October 2020, Honeywell launched a new cloud platform for fire safety systems. This platform enabled technicians to minimize the disruption, aid in compliance, and reduced the time required to design, install, commission, and maintain the safety of systems. Additionally, the prominent players are entering into strategic partnerships in the market to expand their customer base and enhance their product offerings in the market. These factors are expected to boost the growth of the market. Some prominent players in the global fire protection system market include:

• Honeywell International, Inc.

• Johnson Controls

• Raytheon Technologies Corporation

• GENTEX CORPORATION

• Siemens

• Robert Bosch GmbH

• Halma plc

• Eaton

Fire Protection System Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global fire protection system market report based on product, service, application, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Fire Detection

  • Fire Suppression

  • Fire Response

  • Fire Analysis

  • Fire Sprinkler System

• Service Outlook (Revenue, USD Million, 2017 - 2030)

  • Managed Service

  • Installation and Design Service

  • Maintenance Service

  • Others

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Commercial

  • Industrial

  • Residential

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa