Global Fire Safety Equipment Market Analysis 2024: Size Forecast and Growth Prospects

Market Size –
The fire safety equipment market size has grown strongly in recent years. It will grow from $45.07 billion in 2023 to $47.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to regulatory compliance, increase in building construction, urbanization and population growth, increased demand in industrial and commercial development, increased emphasis on workplace safety.

The fire safety equipment market size is expected to see strong growth in the next few years. It will grow to $62.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growing demand for sustainable and eco-friendly solutions, increased fire risks due to climate change, growing data center construction, retrofitting existing buildings, increasing infrastructure development. Major trends in the forecast period include smart fire safety systems, fire suppression technologies, fire detection and alarm systems, specialized fire protection, wireless and remote monitoring.

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Scope Of Fire Safety Equipment Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Fire Safety Equipment Market Overview

Market Drivers –
The rapid growth of the construction industry is expected to propel the growth of the fire safety equipment market going forward. Construction is the process of building, altering, repairing, remodelling, improving, or demolishing any structures. Fire safety equipment is widely used at the construction site to protect the user from fire. For instance, according to Invest India, an India-based investment promotion and facilitation agency, the construction industry is expected to reach $1.4 trillion by 2025. Furthermore, by 2030, India’s real estate business would be worth $1 trillion, contributing 13% of the country’s GDP. Therefore, the rapid growth of the construction industry drives the growth of the fire safety equipment market.

 

The fire safety equipment market covered in this report is segmented –

1) By Product: Extinguisher, Fire Hydrant, Respirator, Other Products
2) By Solution: Fire Detection, Fire Suppression
3) By Technology: Active Fire Safety Systems, Passive Fire Safety Systems
4) By Application: Commercial, Industrial, Residential

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Regional Insights –
North America was the largest region in the fire safety equipment market in 2023. The regions covered in the fire safety equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the fire safety equipment market include Bosch Security System Inc., Hamla plc, Hochiki Corporation, Honeywell International Inc., Johnson Controls International plc, Napco Security Technologies Inc., Siemens Building Technologies pvt. Ltd., Gentex Corporation, Eaton Corporation Inc., Nittan Company Ltd., Space Age Electronics Inc., Lowa Fire Equipment Company, Hiren Industrial Corporation, Larsen Manufacturing LLC, National Fire Fighting Manufacturing, Tyco International Ltd., Bosch Security System Inc., United Technologies Corp., Cooper Wheelock Inc., Panasonic Corporation, ADT Security Services Inc., WSA Fire Systems Inc., Robert Bosch GmbH, Eaton Corporation, Halma plc, Securiton AG, Securitas AB, Secom Co. Ltd., Fire Equipment Manufacturers’ Association, Walter Kidde & Company, Amerex Corporation, Ansul Incorporated, Buckeye Fire Equipment Company, Chemguard Inc., Elkhart Brass Manufacturing Company, Fike Corporation, Fireboy-Xintex LLC, Firetrace International, FlameStop Australia Pty Ltd., Minimax GmbH & Co. KG

Table of Contents
1. Executive Summary
2. Fire Safety Equipment Market Report Structure
3. Fire Safety Equipment Market Trends And Strategies
4. Fire Safety Equipment Market – Macro Economic Scenario
5. Fire Safety Equipment Market Size And Growth
…..
27. Fire Safety Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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