Fire Protection System Market Size, Share & Trends Report

Fire Protection System Market Size, Share & Trends Analysis Report By Product (Detection, Suppression, Response, Analysis, Sprinkler System), By Service (Managed Service, Maintenance Service), By Application, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-797-1
  • Number of Pages: 120
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the fire protection system market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for fire protection system market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of fire protection system market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Fire Protection System Market Categorization:

The fire protection system market was categorized into four segments, namely product (Fire Detection, Fire Suppression, Fire Response, Fire Analysis, Fire Sprinkler System), service (Managed Service, Installation and Design Service, Maintenance Service), application (Commercial, Industrial, Residential), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The fire protection system market was segmented into product, service, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The fire protection system market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; UAE; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Fire protection system market companies & financials:

The fire protection system market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Eaton, Eaton is a firm specializing in power management, offering sustainable and safe solutions for the control of hydraulic, electrical, and mechanical power. It operates through five key business segments: Electrical America & Electrical Global, Hydraulics, Vehicle, eMobility, and Aerospace. The company's product portfolio includes a wide range of items such as clutches & brakes, cylinders, ducting solutions, electrical circuit protection, electronic components, enclosures, energy storage systems, engine solutions, filtration solutions, golf grips, lighting & controls, plastics, product stewardship, pumps, safety, security & emergency communication, steering systems, transmissions, valves, and more. The Safety, security, and emergency segment is further divided into categories like alarm & signaling devices, CCTV, emergency lighting, voice communication & alarms, fire detection systems, crouse hinds series, and security & intruder alarm systems. Eaton caters to a variety of markets including construction, aviation, agriculture, energy, manufacturing, industrial, and others. The company's products are sold in over 175 countries and it has manufacturing facilities in 60 countries. In 2020, Eaton invested approximately USD 551 million in research and development. The company has a global presence, with operations in the Americas, Europe, Asia Pacific, and the Middle East & Africa.

  • GENTEX Corporation, GENTEX Corporation is a company that designs, produces, and markets products utilizing electro-optic technology. The company caters to sectors such as automotive, aviation, and fire protection with its products and services. It produces audiovisual signaling alarms, photoelectric smoke detectors and alarms, and electromechanical carbon monoxide alarms for both commercial and residential use. GENTEX sells its products primarily in North America and other regions to distributors, wholesalers of electrical goods, and OEMs of fire protection systems through regional sales managers and manufacturer representative organizations. To maintain its market standing, the company consistently invests a substantial part of its total annual revenue in engineering and R&D activities. GENTEX has operations in Germany, Japan, and China.

  • Halma Plc, Halma PLC is a company that primarily focuses on delivering products associated with safety, health, and environmental protection worldwide. The business of Halma plc is divided into four sectors, which are process safety, medical, infrastructure safety, and environmental & analysis. The infrastructure safety sector provides products for the fire protection industry. This sector is further categorized into five main markets, which include fire detection, fire suppression, elevator safety, security sensors, and flow of people and vehicles. The Halma PLC group includes brands involved in the fire detection business such as Advanced Electronics Ltd, Apollo Group of Companies, FFE Ltd, Argus Security, Limotec bvba, and LAN Control Systems. Advanced Electronics Ltd produces control panels for safety systems, Apollo Group of Companies creates fire detectors for commercial and industrial use, and FFE Ltd is a specialist in fire detection with two prominent product brands, Talentum and Fireray.

  • Hitachi, Ltd., Hitachi Ld. is a producer and provider of solutions for both industrial and consumer products. In 2018, the firm reorganized its seven business divisions into 11 sectors: IT, Energy, Industry, Mobility, Smart Life, Hitachi High-Technologies, Hitachi Construction Machinery, Hitachi Metals, Hitachi Chemicals, and more. Notably, the data center cooling solution is part of the Industry sector. This sector provides Industry and Distribution systems, water & environmental systems, and industrial goods. The parent company operates a variety of businesses across North America, Europe, Japan, China, ASEAN, India, Asia, and other regions. As of March 31, 2019, the company delivers its products and services to 68 countries and regions via its 803 subsidiaries. It has invested USD 2.91 billion in R&D activities, with 65 research institutes outside Japan and 243 institutes in Japan employing 2700 R&D staff.

  • Honeywell International, Honeywell International Inc. is a multifaceted technology provider and manufacturer that delivers automotive products, sensing and security technologies, electronic and advanced materials, and energy-efficient products and solutions. The organization operates through four divisions, namely Aerospace, Performance Materials and Technologies, Honeywell Building Technologies, and Safety and Productivity Solutions. The company, under its subsidiary NOTIFIER by Honeywell, provides fire alarms and detectors. In addition, the company offers home automation systems, lighting controls, video surveillance, and access control services. The company is involved in manufacturing, sales, services, and R&D activities worldwide, with exports to the U.S. playing a significant role in its operation. The company has a global presence that extends to the Americas, Europe, Asia Pacific, and the Middle East & Africa.

  • Johnson Controls, Johnson Controls is a company that designs and manufactures solutions to improve the operational efficiency of buildings and various automotive-related systems. The company provides building control systems, building automation, HVAC equipment, seating and interior systems, and integrated facility management services. Products related to fire alarm & detection are provided through the building efficiency segment, which operates in over 53 countries. The building efficiency segment encompasses numerous brands and is divided into six categories: fire and security brands, cooling and heating equipment brands, building automation brands, refrigeration brands, air distribution brands, and parts brands. Some of the company's fire and security brands include American Dynamics, ANSUL, CHEMGAURD, Grinnell, ADT, Exacq, DSC, KANTECH, Sensormatic, ShopperTrak, Simplex, and Tyco Integrated Fire & Safety. The company has a global presence, with operations in the Americas, Europe, Asia Pacific, and the Middle East & Africa.

  • Raytheon Technologies Corporation (United Technologies), Raytheon Technologies Corporation is a global firm that specializes in delivering advanced systems and services to military, commercial, and government clients around the world. The company's operations are divided into several segments, including Collins Aerospace Systems, Raytheon Intelligence & Space, Pratt & Whitney, and Raytheon Missiles & Defense. The Collins Aerospace System segment provides advanced aerospace & defense products and aftermarket service solutions to airlines, aircraft manufacturers, regional, business & general aviation, and defense & commercial space operations. The product line of Collins Aerospace includes communication systems, electric power generation, navigation systems, environmental control systems, fire & ice detection protection systems, engine control, landing systems, and more. In 2020, Raytheon Technologies Corporation invested approximately USD 2,582 million in research and development.

  • Robert Bosch GmbH, Robert Bosch GmbH, along with its subsidiaries, is a global provider of technology and services. The company’s operations are segmented into four business sectors: Industrial Technology, Mobility Solutions, Consumer Goods, and Energy and Building Technology. One of its subsidiaries, Bosch Security Systems, Inc., specializes in the design and supply of fire safety and detection equipment, as well as security equipment for applications such as video surveillance, communication, intrusion, and access control. Their product offerings include fire alarm systems, smoke detectors, fire panels, and other related accessories. These products are offered through a network of dealers and integrators that spans 60 countries worldwide. Robert Bosch GmbH, the parent company, invests approximately USD 7,234.36 million, which is 8.2% of its total revenue, in R&D and employs 67,800 associates for its R&D activities. The company operates in 60 countries and has more than 130 locations worldwide.

  • Siemens AG, Siemens AG is primarily engaged in the provision of products related to automation, electrification, and digitalization. The company operates through nine segments, which include Power and Gas, Energy Management, Wind Power and Renewables, Mobility, Building Technologies, Process Industries and Drives, Digital Factory, Healthcare, and Financial Services. The Building Technologies segment provides a range of products, software, solutions, and services in the areas of fire safety building automation, security, ventilation, and HVAC. The company’s products are marketed and sold through a network of partners, distributors, installers, and OEMs. It has several regional offices worldwide. In 2018, the building technology segment acquired three start-ups to enhance its portfolio and expertise in safety, energy efficiency, and smart space technologies. The company possesses strong capabilities that contribute to the enhancement of comfort and energy efficiency in buildings and infrastructure, and protect against fire and security risks.

  • HOCHIKI Corporation, HOCHIKI Corporation is an international entity that deals in the design, production, referring, engineering, upkeep, and installation of systems for fire extinguishing, fire alarms, smoke control, and security. The company functions in Japan and numerous other countries worldwide. It has four primary business divisions: Fire Alarm Systems, Information and Communication Systems, Fire-Extinguishing Systems, and Security Systems. In the fiscal year 2020, the Fire Alarm Systems division generated revenue of USD 255.8 million, while the Fire-Extinguishing Systems division brought in USD 109.8 million. The company invested approximately USD 24.6 million in R&D activities during the same year. HOCHIKI Corporation has a presence in 129 countries, with 13 foreign bases and R&D centers located in the U.S., Japan, and the U.K. The U.S. facility houses factories for standard sensors, modules, and panels catering to the U.S. standard markets. The U.K. facility is the main factory for generating panels for global marketplaces.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Fire Protection System Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Fire Protection System Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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