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Fire Detection Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Fire Detection Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6072057
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the fire detection equipment market are Johnson Controls, Honeywell International, United Technologies, Siemens, Halma , Gentex , Robert Bosch, Hochiki , Securiton AG and Encore Fire Protection.

The global fire detection equipment market is expected to grow from $39.12 billion in 2020 to $41.87 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $59.75 billion in 2025 at a CAGR of 9%.

The fire detection equipment market consists of sales of fire detection equipment used to warn people when the presence of fire is detected.Fire detection equipment reduces the damage caused by fire by generating warning signals (including audio or visual signals) in case of fire.

Detection of fire is done by detecting the smoke, heat or flames. However, this equipment does not intervene in the fire suppression.

Stringent government regulations and mandates on fire detection measures contribute to the fire detection equipment market’s growth.Globally, different government agencies have implemented various laws regarding the installation of fire safety equipment in organizations to ensure employees’ safety.

For instance, the U.S government in accordance with the 15 U.S. Code 2227 mandates the installation of fire safety systems with appropriate warning signals in federally assisted buildings. The increased need to ensure safety by the government agencies has increased the demand for the fire detection equipment market.

High installation and maintenance cost negatively impact the sales of fire detection equipment.The initial investment in installing a fire detection system include the cost of equipment, installation, and subscription of security monitoring services.

Wireless fire detection systems may not give appropriate results if their batteries are left unchanged.Similarly, wired fire detection systems require a constant power supply.

In addition to that, along with maintenance cost makes the use of fire detection systems an expensive affair. Thus, hampering the fire detection equipment market’s growth.

The fire detection equipment market covered in this report is segmented by product type into flame detectors, smoke detectors, heat detectors.It is also segmented by end-user into commercial, industrial, residential, transport, others.

It is also segmented by end-use industry into banking, financial services and insurance (BFSI), hospitality & travel, healthcare, transportation & logistics, manufacturing, retail, mining, oil and gas, others.

The entities involved in the fire detection equipment market are using Infrared technology to reduce the false alarms from these systems and, at the same time, shorten the time it takes alarms to detect actual fires.The use of Infrared technology increases the fire detection capabilities of a detector even in the dusty atmosphere.

For instance, MSA Safety Incorporated, a U.S based company involved in the making sophisticated safety products launched an FL4000H multi-spectrum IR flame detector that uses multi-spectrum IR (Infrared) to detect the flames 210 feet away and also monitors false alarms. The device employs flame recognition technology to confirm fire by analyzing near IR radiation thus producing more effective, reliable results.

In June 2019, Halma acquired the Ampac Group for $135 million.Ampac Group is aan Australian based fire and evacuation systems supplier in the Australian and New Zealand markets.

Through the acquisition, Halma aims to expand its current fire detection portfolio and to strengthen its marketits market hold on other geographies as well.

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