Fire Protection Systems Market (FPS) - 10.1% CAGR to 2022 Led by Commercial Vertical

May 03, 2016, 06:00 ET from RnR Market Research

PUNE, India, May 3, 2016 /PRNewswire/ --

Commercial vertical of fire protection systems market is expected to hold the largest share by 2022, while the FPS market for oil, gas, and mining vertical is expected to grow at the highest rate between 2016 and 2022. Overall market size is expected to grow from USD 47.96 billion in 2015 to USD 98.24 billion by 2022, at a CAGR of 10.1% with the

Complete report on global fire protection systems market spread across 215 pages, profiling 10 companies and supported with 111 tables and 101 figures is now available at .

The fire protection systems market is driven by factors such as increasing policies, regulations, and government mandates, and rising fire-related expenditure of various enterprises and rise in deaths & loss of property due to the same. Also, the technological advancements and innovations in equipment and networking are fostering the growth of the fire protection systems market.

The commercial vertical is expected to hold the largest share of the fire protection systems market by 2022, while the fire protection systems market for the oil, gas, and mining vertical is expected to grow at the highest rate between 2016 and 2022. The oil, gas, and mining sector is more prone to fire accidents due to the involvement of highly flammable materials such as oil, gasoline, and other combustible substances. Suitable fire detection and prevention systems are required in this sector to avoid accidents.

The oil, gas, and mining industries are growing at a rapid pace in the APAC region. The oil, gas, and mining business are more disposed to fire burst due to the involvement of flammable materials. Therefore, this vertical demands for advanced and exhaustive fire protection systems.

The various key players of fire protection systems market profiled in this report include Honeywell International Inc. (New Jersey, U.S.), Johnson Controls (Wisconsin, U.S.), Siemens AG (Munich, Germany), Tyco International Plc (Cork, Ireland), United Technologies Corporation (Connecticut, U.S.), Gentex Corporation (Michigan, U.S.), Halma Plc (Buckinghamshire, U.K.), Hochiki Corp. (Tokyo, Japan), Robert Bosch GMBH (Stuttgart, Germany) and VTMAK (Virginia, U.S.). Order a copy of Fire Protection Systems Market by Technology (Active, Passive), Product (Fire Detection (Sensors & Detectors, RFID), Management (Fire Sprinklers, Extinguishers), Fire Analysis & Response), Service, Vertical, and Geography - Global Forecast to 2022 research report at .

The manufacturing vertical is also growing significantly due to the need to safeguard human lives and properties as well as to avoid production halt. There are many such fire incidents which have not only caused deaths of many employees but have also damaged properties. The government and industrial associations are making it mandatory for manufacturers to install adequate fire protection systems which can cater to the needs of the manufacturing sector.

On a related note, another research on Flame Detectors Market Global Forecast to 2020 says, the global market is expected to reach USD 3.2 billion by 2020, at a CAGR of 6.07% between 2015 and 2020. North America is estimated to hold a large market share of ~29% in 2015 followed by APAC and Europe. The report provides a detailed insight into the current flame detectors market and identifies key trends in various segments. Companies like Honeywell International, Siemens AG, Johnson Controls, General Monitors, Det-tronics, Micropack, Emerson Electric Co., Spectrex, Inc., Simtronics ASA, United Technologies Corporation, Robert Bosch GmbH and Tyco have been profiled in this research report available at .

Explore more reports on Manufacturing & Construction market at .

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