An increasing number of fire accidents and security issues has made the fire alarm equipment market saturated over the years and at a global level. However, constant innovations in technology and government initiatives in developing economies are supporting the market growth.
There are varieties of fire safety equipment available in the market, such as heat detectors, flame detectors, and smoke detectors, used in sectors such as residential, industrial, and commercial zones. Fire safety equipment has its application in warehouses, theatres, airports, residential apartments, commercial buildings, hotels, hospitals, schools, museums, cultural monuments, packaging facilities, power plants, waste treatment facilities, laboratories, drilling platforms, treatment facilities of chemical solvents, sewage plants, filling stations of inflammable fluids & gases, chemical factories, and petrochemical.
Improvement in infrastructure and implementation of mandatory health safety guidelines by the government are an important factor boosting the market for fire prevention equipment. The growing demand for fire safety equipment from the construction industry is a prominent growth driver, given that new developments and modern buildings for public facilities and housing are equipped with the latest fire detection systems. Demand for better-provisioned houses and awareness for fire safety is on the rise due to increase in various initiatives by the government has fuelled the demand in the industry. Wireless fire prevention equipment is fast growing in the sector because can be installed in the remote places and operation & control is easy.
Several stringent government regulations to ensure the safety of laborers and jurisdictional requirements by different countries such as the Fire Protection Association in the US and the Australian building code have made compulsory the setting up of fire detection systems such as smoke detectors and fire alarms.
The development of advanced technologies such as Human Machine Interface (HMI), wireless sensor networks, nanotechnology, and smart building have contributed in a major way towards the expansion of the industry. The increasing awareness regarding prevention and fire protection among the general population has further propelled the demand for fire safety equipment market.
Ineffective control and lack of compliance is a challenge for the growth of the global fire safety equipment market.
Firebox is a fire safety device, it has improved the security of public buildings and homes, it protects against damages & losses often caused due to fire. Less accessibility to fire extinguishers and another fire-fighting equipment is amongst one of the common reasons for fire spreading in any business.
The demand for fire suppression equipment chiefly sprinklers (passive and active) and extinguishers in the commercial sector is expected to foresee growth due to increasing concern for infrastructure and public safety. The industry will witness a growth in fire analysis software in the fire protection systems market during the forecast period. The fire protection analysis software is expected to grow in coming years owing to the growing need for sophisticated fire analysis equipment which helps in proper decision making and fire prevention. Advancement in technology has led to high tech fire alarm panels such as addressable control panels and voice evacuation systems.
Some of the key players in the global fire safety equipment market are TYCO, Hochiki Corporation, Protec Fire Detection, Secom, Mine Safety Appliances (MSA), VT MAK, Johnson Controls, Siemens, HALMA, Bosch Security Systems, London Security, United Technologies Corporation (UTC),Mircom Group of Companies, Honeywell and Gentex Corporation.
Access news release of research report on global fire safety equipment market: https://www.grandviewresearch.com/press-release/global-fire-safety-equipment-market
