PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1107123
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1107123
According to SPER Market Research, the Fire Safety Equipment market is estimated to reach USD 113.21 billion by 2030 with a CAGR of 6.9%.
The rapid growth of the construction industry is expected to propel the growth of the fire safety equipment market going forward. 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. Therefore, the rapid growth of the construction industry drives the growth of the fire safety equipment market.
Through this partnership, these two companies will work together in areas of research, student internships, fire protection engineering, and community awareness initiatives. In January 2021, CertaSite, a US-based company that provides fire protection services acquired Great Lakes Fire & Safety Equipment Company for an undisclosed amount. This deal helps the company to develop its customer base and enlarge into new markets under CertaSite.
The outbreak of the COVID-19 pandemic impacted the fire safety market adversely in the early quarters of 2020. This has resulted in a reduction in the installation of new fire safety equipment in industrial and commercial applications. However, increased spending on new construction activities and the replacement of obsolete fire alarms and sprinklers and detectors are expected to witness the overall growth of the fire safety equipment market in the forthcoming years.
Companies Covered: Bosch Security System Inc., Eaton Corporation Inc., Gentex Corporation, Hamla PLC., Hiren Industrial Corporation, Hochiki Corporation, Honeywell International Inc., Johnson Controls International Plc., Larsen Manufacturing, Lowa Fire Equipment Company, NAFFCO, Napco Security Technologies Inc., Nittan Company Ltd., Siemens Building Technologies Pvt. Ltd., Space Age Electronics.
Based on the product, Fire Safety Equipment Global Market is segmented as; Extinguisher, Fire Hydrant, Respirator, Other Products.
Based on the solution, Fire Safety Equipment Global Market is segmented as; Fire Detection, Fire Suppression
Based on the technology, Fire Safety Equipment Global Market is segmented as; Active Fire Safety Systems, Passive Fire Safety Systems
Based on the application, Fire Safety Equipment Global Market is segmented as; Commercial, Industrial, Residential
North America was the largest region in the fire safety equipment market in 2021. The regions covered in the global fire safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.