Fire Safety Equipment Market Report 2023, Size, Share And forecast Till 2028
IMARC Group has recently released a new research study “Fire Safety Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Fire Safety Equipment Industry?
The global fire safety equipment market size reached US$ 51.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value US$ 75.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.37% during 2023-2028.
What Is A Fire Safety Equipment?
Fire safety equipment represent specialized devices that offer protection and safety to both trained firefighters and unskilled users in case of fire accidents and emergency. They consist of fire-resistant gloves, protective gear, sprinklers, smoke alarms, extinguishers, fire blankets, alarms, communication instruments, respirators, etc. Fire safety equipment are highly effective in extinguishing fires, preventing flames from spreading, helping individuals escape fires safely, etc. Consequently, they find wide-ranging applications in commercial, residential, and industrial establishments across the globe.
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What Are The Key Factors Driving In The Fire Safety Equipment Market?
The increasing incidences of fire-related accidents leading to casualties and loss of property are among the key factors driving the fire safety equipment market. In addition to this, the implementation of several stringent fire hazard safety regulations by government bodies, especially for various risk-prone industries, such as oil and gas, construction, mining, etc., is further stimulating the market growth. Moreover, the growing utilization of safety codes in buildings and the widespread adoption of fire safety equipment in passenger and heavy-duty vehicles to ensure safe evacuation time are also positively influencing the global market.
Apart from this, the introduction of product variants integrated with Artificial Intelligence (AI), wireless sensors, and the Internet of Things (IoT) that are capable of sending real-time notifications to fire departments, avoiding false alarms, and monitoring ambient temperatures is acting as another significant growth-inducing factor. Furthermore, the rising construction of smart buildings and the inflating investments in R&D activities to design advanced devices that can withstand fire for a longer time and produce less smoke are anticipated to propel the fire safety equipment market over the forecasted period.
Who Are The Key Players/Companies In The Fire Safety Equipment Market?
Carrier Global Corporation, Eaton Corporation plc, Gentex Corporation, Halma plc, HOCHIKI Corporation, Honeywell International Inc., Johnson Controls International PLC, Napco Security Technologies Inc., Nittan Co. Ltd. (Secom Co. Ltd.), Robert Bosch GmbH, Siemens AG and Space Age Electronics Inc.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Solution:
- Detection
- Detectors
- Alarms
- Suppression
- Extinguishers
- Sprinklers
Breakup by Application:
- Commercial
- Industrial
- Residential
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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