Fire Protection Systems Market Opportunities Revenue, Size, Competitive Analysis
The fire protection systems market has veteran advancement in fire protection technology in recent years. The product development, such as an automated fire protection system, which facilitate faster fire detection, reliable extinguishing, and preprogrammed responding are expected to replace the existing fire protection system over the next five to six years. Moreover, the government mandates for fire safety is also expected to increase the market penetration of fire protection system, particularly in the developing countries.
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Based on the technology, the global fire protection systems market can be classified into two broad categories: active fire protection system, and passive fire protection system. On the basis of product the global fire protection system market can be classified as fire detection (including smoke detectors, flame detectors and heat detectors), fire management (including fire sprinklers, fire extinguishers, and others), fire analysis and fire response.
Based on the verticals the market can be broadly categorized as banking, financial services, and insurance (BFSI), academia and institutional, consumer goods and retail, government, energy and power, healthcare, oil, gas, and mining, manufacturing, transportation and logistics and others.
North America was the market leader in fire protection system in 2014; stringent government regulation and high demand of passive fire protection system from industrial sector is driving the global fire protection system market in the region. Europe was the second largest market of fire protection system in 2014; ongoing replacement of the existing fire protection system is expected to drive the European fire protection system market in coming years. Asia-Pacific is expected to be the fastest growing fire protection system market during the next five years; the surging industrialization, government regulation towards safety and security, and rapidly developing civil infrastructure in developing countries are expected to increase the market penetration of fire protection system during the forecast period.
Country wise, the U.S., Canada, Germany, Italy, the U.K., France, Spain, India, China, Japan, Australia, and Brazil are the major market of fire protection system. Middle-East region is a hub for the oil and natural gas production, the economy of this region depend largely on the export of oil and natural gas. The stringent government regulations in the Middle-East countries and fire protection system product innovations that works in hash working condition in fire protection system is proving new market opportunity for the global players.
Some of the competitors in the fire protection systems market are MÄK Technologies, Inc., (VT MÄK), United Technologies Corporation (UTC), TYCO, Siemens AG, Robert Bosch GMBH, Johnson Controls Inc., Honeywell International, Inc., Hochiki Corporation, Halma PLC, and Gentex Corporation.
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