In 2021, the global fire protection market was valued at $72.72 billion. It is expected to increase at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2030. The market was negatively impacted by COVID-19 pandemic lockdowns and supply chain disruptions that hindered the production of new fire protection systems. However, the market has rebounded and is being boosted by growing urban populations and the need to protect people and property from fire emergencies.
Systems in the fire protection industry including:
• Fire detectors
• Fire suppression systems
• Fire response systems
• Fire analysis software
• Fire sprinkler systems
• Fire protection services
• Fire protection pipes
Fire Suppression Systems
The global fire suppression systems market was valued at $19.7 billion in 2022 and is forecast to reach $28.8 billion by 2030, growing at a CAGR of 4.9%. The specific dry chemical-based fire suppression segment is projected to grow at a CAGR of 5.4% to reach $11.8 billion by 2030. In addition, there is also projected growth in the water-based fire suppression segment, with a CAGR of 4.8% through the same period.
There is intense competition within the global fire suppression systems market, and as global pandemic recovery continues to trend in a positive direction, investors remain optimistic about this segment, with more new investments expected.
Fire Detection Systems
Fire detection systems use various devices to detect and alert via video and audio equipment during a fire, smoke, or carbon monoxide emergency. Regulatory requirements in many countries are mandating the installation of fire detection systems, boosting demand in the sector. The market includes both fully wireless systems and hybrid systems.
The wireless fire detection segment is expected to see significant growth and investment potential in the coming years. The global market size was valued at $573.31 million in 2021 and is expected to grow at a CAGR of 11.79% to reach $1118.95 million by 2027.
The Internet of Things (IoT) and artificial intelligence (AI) technologies have made it possible to integrate fire detection systems with other automated building systems, such as lighting and heating. This provides a complete fire safety solution, offering real-time monitoring and analysis of data, as well as faster response times. The combined use of these advanced technologies is making fire detection more cost-effective and simpler to install and maintain. These factors are all contributing to the growth of the wireless fire detection system market.
Fire Analysis Systems
The fire analysis space is forecast to see the highest CAGR of 13.6% through 2030. The significant growth is due to the increasing need for fire analysis to aid in better decision-making during fire prevention. Fire analysis systems utilize fire modeling and simulation software and fire mapping and analysis software.
Fire Protection Services
Fire protection services include system design, installation, maintenance, and upgrades. More fire protection systems are being installed in buildings of all sizes as property owners and businesses better understand the benefits. This understanding and vendor expertise drive the demand for installation and design services in the market.
The maintenance services segment is predicted to see the highest CAGR of 6.8% through 2030. Any malfunctions in fire protection systems can result in accidents, death, and loss of assets, making regular maintenance vital to reducing fire risks and extending the system's life.
Fire Protection System Pipes
The fire protection system pipes market is forecast to reach $28.5 billion by 2027, growing at a CAGR of 6.7% from $20.6 billion in 2022. By material, the steel pipes segment is predicted to continue to account for the highest share of the market. By type, welded pipes are expected to continue to dominate the market.
Fire Protection System Market Drivers
Various factors, trends, segments, and objectives influence the market. The major growth drivers include strict regulations for fire protection systems, increased fire-related expenditure by enterprises, deaths and loss or damage of property, big data, and increased adoption of automation in commercial property and smart homes.
The construction of new residential and non-residential properties also presents new opportunities for installing fire protection systems. In addition, commercial and industrial companies are increasingly using fire protection systems for employee safety.
The use of fire protection systems in developing countries used to be low compared to developed countries, but awareness has increased thanks to efforts by system integrators, manufacturers, and dealers. There are also more marketing efforts to show the benefits of fire protection systems, leading to market growth.
The commercial application segment dominates the market, accounting for over 45% of global revenue in 2021. It includes:
- Banking, financial services, and insurance (BFSI)
- Telecom and IT
- Educational institutions
The demand for fire protection systems in commercial use is growing worldwide, with increasing government regulations regarding fire prevention and control. Additionally, companies are investing more money in these systems to reduce loss of property and life and protect their infrastructure.
The industrial application segment will see the highest CAGR of 7.8% through 2030. This includes sectors such as:
- Oil & gas
- Energy & power
Growth in this segment stems from the need to safeguard automated systems from fire accidents and in more fire-prone sectors, more emphasis on complete fireproof protection and prevention systems.
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