$88.94 Billion Fire Protection System Market by Product, Fire Suppression, Fire Sprinkler, Service, Vertical - Global Forecast to 2024 - ResearchAndMarkets.com

The "Fire Protection System Market by Product, Fire Suppression, Fire Sprinkler, Service, Vertical - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The fire protection system market is expected to grow from USD 57.33 billion in 2018 to USD 88.94 billion by 2024, at a CAGR of 7.6% from 2018 to 2024.

The growth of the market is fueled by rise in deaths and loss of property due to fire breakouts, stringent government regulations and mandates, rising demand for wireless technologies for fire detection, and technological advancements in the construction industry.

However, unexpected failure of fire alarm systems, high installation and maintenance costs of fire protection systems, and high costs involved in replacing traditional fire detectors with smart detectors are hindering the growth of the market.

Market Dynamics

Drivers

  • Modernization and Technological Advancements in Construction Industry
  • Rise in Deaths and Loss of Property Due to Fire Breakouts
  • Stringent Government Regulations and Mandates
  • Rapid Development in Wireless Technologies for Fire Detection

Restraints

  • High Installation and Maintenance Costs of Fire Protection Systems
  • Unexpected Failure of Fire Alarm Systems
  • High Costs Involved in Replacing Traditional Fire Detectors With Smart Detectors

Opportunities

  • Increasing Use of Water Mist Systems
  • Rapid Development of Smoke Detectors, Along With IoT and Big Data
  • Revision of Codes and Mandatory Standards

Challenge

  • Amalgamation of User Interfaces With Fire Protection Solutions

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Fire Protection System Types

8 Fire Protection System Market, By Product

9 Fire Protection System Market, By Service

10 Fire Protection System Market, By Vertical

11 Geographic Analysis

12 Competitive Landscape

13 Company Profiles

Key Players

  • Johnson Controls
  • United Technologies
  • Honeywell
  • Siemens
  • Halma
  • Robert Bosch
  • Hochiki
  • Minimax Viking
  • Gentex
  • Securiton AG

Other Key Players

  • Encore Fire Protection
  • Sterling Safety Systems
  • Fire Suppression Limited
  • Schrack Seconet AG
  • Napco Security Technologies
  • VFP Fire Systems
  • S&S Fire Suppression Systems
  • Fireline Corporation
  • ORR Protection
  • Argus Fire Protection Company Ltd
  • Firetrol Protection Systems, Inc

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