Fire Protection Equipment

Fire Protection Equipment Market Overview

The Fire Protection Equipment Market size is estimated at USD 70.31 billion in 2023, and is expected to reach USD 100.11 billion by 2032, growing at a CAGR of 6.67% during the forecast period (2024-2032).

Fire Protection Equipment Market Trends

The global fire Protection equipment market is being driven primarily by the increasing number of fire-related accidents resulting in casualties and significant property loss. Furthermore, the market growth is positively influenced by the implementation of strict fire hazard safety regulations by government bodies in various risk-prone industries such as construction, oil and gas, and mining. The demand for fire Protection equipment is also being augmented by the growing utilization of safety codes in buildings to ensure the safety of occupants. Additionally, the global market is propelled by the rising adoption of fire Protection equipment in passenger and heavy-duty vehicles to facilitate safe evacuation. Moreover, the integration of fire Protection equipment with advanced technologies like IoT, wireless sensors, and artificial intelligence is further accelerating the market growth. These innovative product variants enable real-time notifications to fire departments, monitor ambient temperatures, and prevent false alarms, among other functionalities. In the future, the increasing popularity of smart buildings and ongoing research and development efforts to introduce fire Protection equipment that can withstand fire for longer durations and produce less smoke will continue to drive the global fire Protection equipment market.

Fire Protection Equipment

Size, by Product, - (USD Billion)

Fire Extinguisher

Fire Hydrant

Respirator

Others

Other Products

The Market will Grow

At the CAGR of:

6.67%

The Forecast Market

Size for in USD:

$100.11 Billion

Fire Protection Equipment Market Dynamics

DRIVERS

Surge in residential and commercial infrastructure development

The use of construction equipment has increased significantly in the construction industry of developing countries due to the growth in new and retrofit infrastructure. Building automation has also made remarkable progress in facility management in these nations. Fire protection equipment are commonly installed in buildings to detect, contain, and extinguish fires at an early stage. Advanced technologies have been developed to facilitate communication during fires, enabling quick deployment of response teams. Numerous companies are investing in these technologies, including Honeywell International Inc., which offers a 5104-fire control communicator and a six-zone fire alarm communicator. These devices provide digital fire reporting over normal telephone lines and can be used to monitor existing local fire alarm control panels or function as standalone units for sprinkler supervisory.

RESTRAINTS

Issues of false alarms and detection failures High installation and maintenance costs

The high expenses related to the installation and upkeep of fire protection equipment stem from various reasons. Initially, the cutting-edge technology and specialized materials utilized in modern fire protection equipment result in increased initial costs. This encompasses the expenses for fire detection devices, sprinkler systems, fire extinguishers, and other essential components. Furthermore, the installation procedure for this equipment necessitates skilled professionals with expertise in fire safety engineering, leading to elevated labor expenses. Additionally, substantial initial investments are essential to establish fire protection equipment, as the infrastructure is intricate, and advanced tools are required to combat fire emergencies. Consequently, vendors must continuously enhance their solutions and innovate new technologies.

OPPORTUNITIES

Increasing government initiatives to upgrade building codes

Numerous developed countries, such as the United States, Canada, and Japan, have recently made revisions to their building codes to incorporate regulations pertaining to the installation of fire suppression systems. An example of this is the Sarbanes-Oxley Act, which has broadened the scope of responsibilities for executive leadership beyond financial reporting to encompass all aspects of risk management, including safety considerations. As a result, companies are allocating substantial financial resources to evaluate and rectify vulnerabilities in their fire suppression systems, particularly in areas where firefighting infrastructure is lacking. In the United Kingdom, the Fire Safety Act received Royal Assent on April 29, 2021, and became effective on May 16, 2022. This Act amends the Regulatory Reform Order 2005 and the Fire Safety Order. According to this legislation, individuals responsible for residential buildings must effectively manage and mitigate fire risks associated with the structure and external walls of the building, including cladding, windows, balconies, and entrance doors to individual flats that open into common areas. Updated building codes now mandate the installation of fire alarm equipment in all office spaces, commercial and manufacturing facilities, as well as educational and entertainment establishments. These code revisions are a response to the growing demand for fire alarm equipment in the overall market. Furthermore, buildings undergoing renovation are also subject to the updated codes, thereby contributing to the expansion of the market.

CHALLENGES

Addressing ever-evolving regulatory requirements

Manufacturers and installers operating in the fire protection equipment market encounter significant obstacles when navigating the constantly evolving regulatory environment. Achieving compliance can be both intricate and costly due to the varying standards that exist across different regions. It is imperative for companies to remain up-to-date with any changes and swiftly adapt in order to ensure compliance. Additionally, they must diligently monitor regulatory updates and guidance documents issued by relevant authorities. Common challenges include difficulties in understanding regulatory language, limited resources, and the necessity to efficiently interpret and implement new regulations. Adhering to regulatory compliance is vital for safeguarding organizations against legal and financial risks, as well as promoting continuous improvement. To achieve long-term success in this industry, it is crucial for businesses to embrace technology-driven solutions and proactively address regulatory challenges.

Fire Protection Equipment

Share, by end user, (USD Billion)

70.31 billion %

Municipal Fire Service

Industrial

Commercial

Residential

Other End-Users

100.11 Billion

Total Market Size

USD (Billion),

6.67%

CAGR

-

Fire Protection Equipment Market Segments

• by Type

1. Extinguisher
2. Fire Hydrant
3. Respirator
4. Other

• by Application

1. Municipal Fire Service
2. Industrial
3. Commercial
4. Residential
5. Other

• by Solution

1. Detection
2. Suppression

Fire Protection Equipment Market Key Players

• Honeywell International, Inc.
• Johnson Controls
• Robert Bosch GmbH
• Eaton
• Gentex Corp.
• Halma plc
• Hochiki Corp.
• Siemens Building Technologies
• Johnson Controls
• Napco Security Technologies, Inc.
• Cooper
• ADT Security Services
• ANAF
• Britannia Fire
• Nittan Company Ltd.
• Potter Roemer
• Hiren Industrial Corporation
• Larsen Manufacturing
• IFSE
• Supremex
• Space Age Electronics
• United Technologies Corp
• Tian Guang
• Iowa Fire Equipment Company
• Naffco
• ILT Industrie-Luftfiltertechnik

Fire Protection Equipment Market Recent Development

Cork, Ireland (October 5, 2022): Johnson Controls, the global leader for smart, healthy and sustainable buildings, announced today that it acquired Rescue Air Systems, a leading provider of firefighter air replenishment systems (FARS) that enable firefighters to refill breathing air bottles within a building during responses.

BENGALURU, India (August 29, 2022) - Honeywell today announced the launch of the Morley MAX fire detection and alarm system that helps improve building and occupant safety. The compact, powerful, performance-driven intelligent fire alarm control panel offers installers and end users a technically advanced range of functions that is easy to install, commission and maintain.

Fire Protection Equipment

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

6.67%

The Forecast Market

Size for in USD:

$100.11 Billion

Conclusion

The global fire protection equipment market is experiencing robust growth, driven by the increasing number of fire-related incidents, stringent safety regulations across various industries, and rising adoption of advanced technologies. Enhanced building codes and government initiatives are further stimulating demand for modern fire safety systems. Innovations integrating IoT, AI, and wireless sensors are revolutionizing the market, providing real-time notifications and reducing false alarms. However, the market faces challenges such as high installation and maintenance costs, regulatory complexities, and evolving compliance requirements. Despite these obstacles, opportunities abound in upgrading building codes and expanding fire safety infrastructure in emerging economies, positioning the market for continued expansion and technological advancement.

Fire Protection Equipment TO (USD BN)

CAGR OF

6.67%

Fire Protection Equipment

100.11 Billion%