New York, NY, March 13, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fire Protection System Market by Product (Fire Sprinkler, Fire Detection, Fire Analysis, Fire Response, and Fire Suppression), by Service (Maintenance, Installation & Design, Engineering, Managed, and Others), and by Vertical (Oil & Gas, Mining, Energy & Power, Manufacturing, Government, Residential & Commercial, Healthcare, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global fire protection system market was valued at USD 57.31 billion in 2018 and is expected to reach USD 98.85 billion by 2025, at a CAGR of 8.1% between 2019 and 2025.
A fire protection system is designed and developed to extinguish fires and avoid property losses. These systems help to detect, regulate, extinguish, and alert building occupants from fires or smoke. The fire protection system is an emergency response system used in case fires of any kind. It is widely used in energy and power, oil and gas, mining, manufacturing, residential and commercial, government, healthcare, transportation, and logistics, etc. Increasing technological advancements in fire protection system are witnessed worldwide and widely implemented by the transportation industry. Moreover, the rising technological advancements in fire protection are slated to further boost market expansion. However, the high installation and maintenance costs of fire protection systems may hamper the market in the future. Conversely, the rapid expansion of smoke detectors coupled with big data and IoT is likely to offer ample growth opportunities for the fire protection system market over the estimated timeframe.
Browse through 54 Tables & 37 Figures spread over 110 Pages and in-depth TOC on “Global Fire Protection Systems Market: Industry Size, Trends, Growth, Segments, Analysis and Forecast, 2018–2025”.
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The global fire protection system market can be segmented into product, service, and vertical. Based on the product, the global fire protection market is further classified into fire sprinkler, fire detection, fire analysis, fire response, and fire suppression. Fire suppression system dominated the global market in 2018, as it suppresses fire by releasing a suppression agent. By service, the market includes maintenance, installation and design, engineering, managed, and others. The maintenance service segment is anticipated to lead the market in the future, owing to its increased demand across different verticals. By vertical, the market includes oil and gas, mining, energy and power, manufacturing, government, transportation and logistics, residential and commercial, healthcare, and others. The residential and commercial segment is predicted to witness significant growth over the forecast time period, whereas the government vertical is projected to show the highest rate over the forecast time period.
The Asia Pacific fire protection system market is projected to expand at the fastest pace in the upcoming years, owing to the surging demand for fire protection system in construction, government, healthcare, and automotive sectors and the growing number of end-use industries in emerging economies, such as China and India. Additionally, an increasing number of new construction projects is likely to further enhance the fire protection system market growth in the region.
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North America dominated the global fire protection system market in 2018 and is estimated to maintain its dominance during the forecast period as well. The U.S. is projected to contribute the largest share to the global fire protection system market in the future, owing to major infrastructural developments in the country. Additionally, the favorable government legislation and increasing concerns regarding safety against fire are anticipated to fuel the fire protection system in the region.
The European fire protection system market is estimated to grow at a substantial rate over the forthcoming years. UK and Germany are the major contributors to the fire protection system market in the region, due to the growing demand for fire protection system by the transportation industry and the initiatives taken by business enterprises to provide a safe working environment to their employees along with obligatory building codes and strict government regulations.
Browse the full “Fire Protection System Market by Product (Fire Sprinkler, Fire Detection, Fire Analysis, Fire Response, and Fire Suppression), by Service (Maintenance, Installation & Design, Engineering, Managed, and Others), and by Vertical (Oil & Gas, Mining, Energy & Power, Manufacturing, Government, Residential & Commercial, Healthcare, Transportation & Logistics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/fire-protection-systems-market
The Middle Eastern and African fire protection system market is predicted to record significant growth over the assessment period, due to the increasing use of fire protection by the oil and gas industry and large-scale fire protection system usage in the automotive industry and hospitals.
Some key manufacturers of the global fire protection system market are United Technologies, Johnson Controls, Siemens, Honeywell, Halma, Robert Bosch, Minimax Viking, Gentex, Securiton AG, Fire Suppression Limited, Encore Fire Protection, Sterling Safety Systems, Schrack Seconet AG, VFP Fire Systems, and Napco Security Technologies.
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The report segments the global fire protection system market into:
Global Fire Protection System Market: Product Analysis
- Fire Detection
- Fire Suppression
- Fire Sprinkler
- Fire Analysis
- Fire Response
Global Fire Protection System Market: Service Analysis
- Engineering
- Installation and Design
- Maintenance
- Managed
- Others
Global Fire Protection System Market: Vertical Analysis
- Residential and Commercial
- Energy and Power
- Government
- Manufacturing
- Oil and Gas
- Mining
- Transportation and Logistics
- Healthcare
- Others
Global Fire Protection System Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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