With fire protection system being adopted at a large scale by verticals like manufacturing, oil & gas, mining, and likewise, the fire protection system market is bound to gloat with exceptional growth in the forecast period, as stated by Persistence Market Research.
Fire Protection System Market Dynamics
The fire protection system market, by type of product, spans fire detection systems (smoke detectors and flame detectors), fire extinguishers (foam distinguishers, water extinguishers, dry chemical extinguishers, and carbon dioxide extinguishers), fire suppression systems (water fire suppression systems, gaseous/clean agent fire suppression systems, foam fire suppression systems, and powder fire suppression systems), and fire response systems (emergency lighting and fire alarm devices). Persistence Market Research has highlighted these facts with future prospects in its latest market study entitled “Fire Protection System Market”.
North America holds the largest market share due to the US being subject to presence of NFPA (National Fire Protection Association) for dealing with fire mishaps. Europe is the second rank holder on this count. This could be attributed to adoption of systems to check the fire accidents. The governments under NFPR (National Fire Protection Regulations) do get certified regarding properly installing fire protection systems.
The Asia-Pacific is expected to witness the highest growth rate herein going forward. Japan, India, and China are leading from the front. The Chinese government has made provisions for designing codes for rendering fire protection. Coming to India, research states that residential complexes are more prone to the fire disasters.
The Indian insurance companies are also stating that maximum claims get registered owing to fire losses. Steadiness is observed regarding MEA and LATAM. Persistence Market Research has, with the help of its line of expertise in the form of analysts and consultants, given a detailed analysis of the nitty-gritties herein in its latest market study entitled “Fire Protection System Market”.
Persistence Market Research has profiled the key players in fire protection system market as Consilium AB, DESAUTEL SAS, HALMA Plc, Hochiki Corporation, Johnson Controls International Plc, United Technologies Corporation, Yamato Protec Corporation, Robert Bosch GmbH, Siemens AG, Honeywell International Inc., Swastik Synergy Engineering Pvt. Ltd., Gentex Corporation, NAFFCO FZCO, Solas Fire Safety Equipment (P) Ltd., Gunnebo AB, and likewise.
Persistence Market Research has also listed out the key developments on this count. For instance – Det-Tronics (a part of Carrier Global Corporation), in May 2021, did come up with BluEdge service platform. It comes across as one of the differentiated offerings for customers operating at hazardous oil & gas and petroleum facilities.
Marioff, in April 2021, did contract with RMC (Rauma Marine Constructions) in Rauma (Finland) for delivering HI-FOG high-pressure water mist fire suppression systems to 4 new Pohjanmaa-class multi-purpose corvettes, which is a part of the country’s “Navy’s Squadron 2020” project. Siemens Smart Infrastructure, in February 2020, did launch smart building suite for creating a flexible and more efficient workplace that would be people-centric. Johnson Controls, in March 2020, did launch corrosion controls for TYCO.
The solution are inclusive of in-line detector that does monitor system and signals about corrosion. Halma plc, in June 2019, did acquire Australia-based Ampac to expand its territories across Australia.
The Road Ahead
The global fire protection system market is bound to grow on a graciously exponential note in the next decade – Persistence Market Research