June 25, 2020
According to the research report titled ‘Global Fire Detection & Suppression Equipment Market Size study, by Fire Detection (Control Panels, Fire Detectors, Alarms, Manual Call Points, Video Smoke Detector Software) by Fire Suppression ( Portable Fire Extinguishers, Sprinkler Heads, Water Mist Systems, Gaseous Suppression, Chemical) by End-Use (Commercial, Residential, Industrial) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global fire detection & suppression equipment market is predicted to grow significantly by the year 2026.
For the record, fire detection & suppression equipment offer warnings regarding the smoke, fire breakouts and other hazardous situations by manual or automatic detection. These systems comprise of equipment, detection devices as well as wiring for identifying combustible products or fire.
Rapid commercialization and expansion of industrial estates along with strict regulatory scenario pertaining to labor safety as well as building protection are major factors driving the growth of the fire detection and suppression equipment industry. Robust technological advancements in construction sector and increasing cases of loss of property and deaths due to fire breakouts are further aiding the market expansion.
Fire suppression systems are developed to manage the hazardous conditions until they are suppressed. These systems can either be chemical-based, gas-based or water-based. Advancements in wireless technology is fostering the demand for advanced fire detection & suppression equipment. However, lack of skilled labor may act as a restraining factor to the overall market growth.
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By fire detection, the market is split into video smoke detector software, manual call points, alarms, fire detectors and control panels. In terms of fire suppression, the industry is split into chemical, gaseous suppression, water mist systems, sprinkler heads and portable fire extinguishers. Citing the end-use landscape, fire detection and suppression equipment industry is classified into industrial, residential and commercial.
Considering the geographical landscape, fire detection & suppression equipment industry in North America is anticipated to showcase substantial growth during the forecast period, primarily due to strict federal reforms and developed infrastructure.
Meanwhile, Asia-Pacific market is also poised to accumulate notable returns in the forthcoming years. Increasing investments towards infrastructural development, rising per capita income and increasing construction activities are complementing the business outlook in the region.
The prominent companies operating in fire detection & suppression equipment market are BRK Brands Inc., Huawei Technologies Co. Ltd., Roost Inc., Samsung Electronics Co. Ltd., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, United Technologies Corp., Honeywell International Inc. and Johnson Controls International Plc among others.