Fire Detection Equipment Market Growth Outlook Through 2024-2033

Overview and Scope
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.

Sizing and Forecast
The fire detection equipment market size has grown strongly in recent years. It will grow from $8.34 billion in 2023 to $9.15 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to government support in emphasizing safety, increase in the number of fire accidents, increase in commercial space, economic growth and rapid urbanization.

The fire detection equipment market size is expected to see rapid growth in the next few years. It will grow to $13.88 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to the technological advances, growth in the construction market, increasing demand from end-user industries, stringent safety regulations, and increasing adoption of wireless technology in fire detection. Major trends in the forecast period include integration of smoke detectors in home automation systems to provide consumers with better security and control, considering the addition of advanced smoke detectors in commercial buildings for people and business safety, integrating the internet of things (iot) in fire detectors to make them more technologically advanced, providing features including voice assistance to offer convenience and specific needs of some of the disabled population, manufacturing and provide features of smart smoke detectors, multi-criteria fire detectors, beam smoke and fire detectors, heat detectors, visual fire detectors and alarms, intelligent smoke and fire detectors and adopting wireless technologies.

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Segmentation & Regional Insights
The fire detection equipment market covered in this report is segmented –

1) By Product Type: Flame Detectors, Smoke Detectors, Heat Detectors
2) By Connectivity: Wired, Wireless
3) By End-Use Industry: Banking, Financial Services and Insurance (BFSI), Hospitality &Travel, Healthcare, Transportation & Logistics, Manufacturing, Retail, Mining, Oil and Gas, Other End-User Industries

North America was the largest region in the fire detection equipment market in 2023. Asia-Pacific was the second largest region in the global fire detection equipment market share. The regions covered in the fire detection equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the fire detection equipment market report are Siemens AG, Johnson Controls, Carrier Global Corporation, Honeywell International, Robert Bosch, Schneider Electric, Hochiki Corporation, Assa Abloy, Securiton AG, Halma, Protec, Rubezh, Ajax, Pozhtechnika, SATEL, NAPCO Security Technologies, Encore Fire Protection, VEP Fire Systems, Kidde fire safety, Ras Al Khaimah Safety and Security System LLC, C.G. Technology L.L.C, Speed Fire & Safety Equipment L.L.C, A One Technology Fire Safety & Security Systems LLC, Eversafe Fire & Safety Equipment LLC, Alnahrain Security & Safety, Tyco, UTC, Viking, Fike Corporation.

The fire detection equipment market report table of contents includes:

1. Executive Summary
2. Fire Detection Equipment Market Characteristics
3. Fire Detection Equipment Market Trends And Strategies
4. Fire Detection Equipment Market – Macro Economic Scenario
5. Global Fire Detection Equipment Market Size and Growth
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32. Global Fire Detection Equipment Market Competitive Benchmarking
33. Global Fire Detection Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fire Detection Equipment Market
35. Fire Detection Equipment Market Future Outlook and Potential Analysis
36. Appendix

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