The global fire safety equipment market size was estimated at USD 46.59 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. Rising demand for fire safety equipment for industries, such as utilities, automotive, manufacturing, energy and power, petrochemical, oil and gas exploration, mining, and construction is anticipated to drive the growth. Several developed and developing regions like Europe, North America, and the Asia Pacific have implemented stringent regulations, which mandated the installation of fire safety equipment in the residential, industrial, and commercial sectors. These factors are driving the demand for the growth of the market.
The outbreak of the COVID-19 pandemic impacted the fire safety market adversely in the early quarters of 2020. This has resulted in a reduction in the installation of new fire safety equipment in industrial and commercial applications. However, increased spending on new construction activities and replacement of obsolete fire alarms and sprinklers and detectors are expected to witness the overall growth of the fire safety equipment market in the forthcoming years.
Reconstruction activities along with the implementation of safety codes against fire protection will positively impact market growth. Advancements in technology, including wireless alarm systems, smoke detectors, and water mist technology, will further boost the growth. The rise in awareness regarding fire safety equipment and the dangerous outcomes is expected to propel market growth. However, high replacement costs of traditional fire equipment would hamper the market growth.
The European Norm, National Fire Protection Act, among many other local regulations as well as listings, building codes, and approvals by nationally recognized testing laboratories have mandated the construction authorities to equip the infrastructures with adequate fire suppression and detection systems. Moreover, insurance companies provide incentives to infrastructure owners for installing such equipment, which is expected to drive the fire safety equipment market further.
The industrial application segment dominated the market with a revenue share of over 40% in 2021. This segment includes oil and gas, transportation sectors, energy and power, and manufacturing. These sectors emphasize the installation of fire safety equipment due to the high risk involved. The oil and gas sectors are highly prone to fire accidents due to flammable materials' involvement. Government regulations to safeguard workers from fire accident is propelling the demand for fire safety equipment.
Based on application, the market is segmented into industrial, residential, and commercial. The residential segment is expected to register the highest CAGR over the forecast period. In the past couple of years, the demand for fire safety equipment has increased significantly across this sector owing to the rising awareness about fire safety equipment and their benefits. The growing infrastructure development in developed and developing countries is also anticipated to fuel the growth.
Based on solution, the market for fire safety equipment is segmented into fire suppression and fire detection. Fire detection dominated the market and accounted for more than 60% share of the global revenue in 2021. This growth can be attributed to increasing policies, regulations, and government mandates, along with the use of advanced technology in detection devices. Furthermore, the growing number of fire accidents globally has compelled the need to install fire safety equipment.
The fire detection segment is anticipated to expand at the highest CAGR of 7.2 % from 2022 to 2030. The rapid development in commercial construction and growing smart city projects will boost the demand for fire detection equipment during the forecast period. Furthermore, increased consumer spending on construction activities owing to the availability of disposable income and growing awareness about the fire detectors is expected to drive the growth of the market in near future.
North America dominated the market in 2021 and was valued at USD 17.95 billion. The U.S. and Canada significantly contributed to the growth due to the rapid commercial and industrial construction development. Stringent fire safety regulations and norms are propelling regional growth. For instance, in the U.S., the Fire Code, a model code, is adopted by local and state jurisdictions and is enforced by fire prevention officers belonging to municipal fire departments. Rising concerns related to fire safety and security and the quick adoption of advanced technologies are also driving regional growth.
The Asia Pacific region is expected to register the highest CAGR over the forecast period. The Asia Pacific is a developing region, and countries such as India, China, and Japan are expected to drive the growth of the regional market. Factors such as the rapid urbanization and industrialization in emerging nations are expected to boost the demand for fire safety equipment in the region. The strong presence of sensor manufacturing companies and a high level of production of fire safety equipment are other significant factors that are anticipated to contribute to the growth of the segment in near future.
Prominent industry participants include Eaton Corp., Inc.; Robert Bosch GmbH; Nittan Company, Ltd.; Gentex Corp.; Siemens Building Technologies; Hochiki Corp.; United Technologies Corp.; Space Age Electronics; Johnson Controls; Honeywell International, Inc.; Napco Security Technologies, Inc. and Halma plc. Most companies are focusing on expanding their business and are adopting strategic initiatives and undertaking measures to gain benefits from the opportunities in the emerging market.
For instance, in 2019, Halma PLC acquired Ampac (Australia), a fire safety and evacuation system provider company. Amapc has a significant presence in Australia, New Zealand, and the U.K. The acquisition is expected to increase the presence and generate revenue for HalmaPlc in these countries. The prominent players invest in R&D to build simplified solutions to reduce installation time and overall costs. This is expected to boost the growth of the market. Some of the prominent players operating in the global fire safety equipment market are:
Robert Bosch GmbH
Eaton Corp., Inc.
Gentex Corp.
United Technologies Corp
Space Age Electronics
Halmaplc
Siemens Building Technologies
Hochiki Corp.
Nittan Company, Ltd.
Honeywell International, Inc.
Napco Security Technologies, Inc.
Johnson Controls
Report Attribute |
Details |
Market size value in 2022 |
USD 49.81 billion |
Revenue forecast in 2030 |
USD 82.02 billion |
Growth Rate |
CAGR of 6.4% from 2022 to 2030 |
Base year for estimation |
2021 |
Actual estimates/Historical data |
2018 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD Million and CAGR from 2021 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Solution, application, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; China; Japan; India; Mexico; Brazil |
Key company profiled |
Robert Bosch GmbH; Eaton Corp., Inc.; Gentex Corp.; United Technologies Corp.; Siemens Building Technologies; Honeywell International, Inc.; Napco Security Technologies, Inc.; Johnson Controls |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to Country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options. |
This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2021 to 2030. For this study, Grand View Research has segmented the global fire safety equipment market report based on solution, application, and region:
Solution Outlook (Revenue, USD Million, 2018 - 2030)
Detection
Detector
Alarm
Suppression
Extinguisher
Sprinkler
Application Outlook (Revenue, USD Million, 2018 - 2030)
Commercial
Industrial
Residential
Regional Outlook (Revenue, USD Million; 2018 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Mexico
Middle East & Africa
b. The global fire safety equipment market size was estimated at USD 46.59 billion in 2021 and is expected to reach USD 49.81 billion in 2022.
b. The global fire safety equipment market is expected to grow at a compound annual growth rate of 6.4% from 2022 to 2030 to reach USD 82.02 billion by 2030.
b. North America dominated the fire safety equipment market with a share of 3.3% in 2020. This is attributable to rapid infrastructural developments and the implementation of stringent fire safety regulations and norms.
b. Some key players operating in the fire safety equipment market include Robert Bosch GmbH; Eaton Corp., Inc.; Gentex Corp.; United Technologies Corp.; Siemens Building Technologies; Honeywell International, Inc.; Napco Security Technologies, Inc.; and Johnson Controls.
b. Key factors that are driving the fire safety equipment market growth include reconstruction activities and the implementation of building safety codes against fire protection across the world.
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The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.
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