Global Fire Safety Equipment Markets Report 2022: A Market Expected to Surpass $10 Billion by 2027

DUBLIN, Dec. 9, 2022 /PRNewswire/ -- The "Global Fire Safety Equipment Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

This study categorizes end-users as commercial, industrial, government, education, and others.

In 2020, the global fire safety equipment revenue declined by 28.7% due to the pandemic. Cancellation and postponement of construction and inauguration of new buildings drastically reduced the revenue from new fire safety equipment installations.

Nonetheless, building construction projects largely resumed in 2021, and global economic recovery led to a moderate 2.5% growth in the fire safety equipment market in 2021. By 2027, fire safety equipment revenue is expected to exceed $10 billion.

Fire safety equipment includes fire detection and fire suppression systems. These systems help prevent personal and material damage from fire. They are installed as part of buildings to detect combustion or any unwanted presence of fire byproducts, such as heat and smoke, alert building occupants in an emergency, and prevent the spread of fire in the event of a fire incident in a facility.

The fire detection segment includes sensors that detect and alarms that warn against fire, while the fire suppression segment includes water-based, gas-based, and foam fire extinguishing systems.

Revenue includes the sale of fire safety products only for new installations and retrofits/replacements. The study excludes revenue from design/consulting, project management, installation, commissioning, audit, and maintenance.

Fire detection was the largest equipment segment in 2021 and will remain the same throughout the study period. However, fire suppression equipment revenue will grow the fastest from 2022 to 2027. The top 2 end-users are commercial and industrial, cumulatively accounting for 63.5% of revenue in 2021.

The fastest-growing end-user segment is education, which will grow at a CAGR of 7.5% from 2021 to 2027. Education facility expansion, such as higher education institutions and vocational and training centers, is the reason behind this growth. Nonetheless, the commercial sector will remain the largest end-user throughout the forecast period.

Asia-Pacific is the largest region in fire safety equipment revenue. It accounted for a 28.7% share of revenue in 2021 and will remain the leading region in revenue till 2027. The analyst notes that the Middle East & Africa, and Latin America have the fastest growing fire safety equipment revenue. Robust economic growth, development of fire safety regulations, and upcoming construction activities in these regions will lead to a CAGR of 7.6% and 8.1%, respectively.

North America and Europe are relatively mature regions in the fire safety equipment market, but these are hubs for innovation in fire safety advancement. The analyst identifies the growth opportunities in fire safety equipment to integrate sustainability, digital applications and solutions, and robotics themes.

Key Topics Covered:

1. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative 
• The Impact of the Top 3 Strategic Imperatives on Fire Safety Equipment
• Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Opportunity Analysis

• Scope of Analysis
• Segmentation: Market
• Segmentation: End-user
• Segmentation: Region
• Overview of Fire Safety Industry
• Fire Safety Ecosystem
• Fire Safety Codes
• Growth Drivers
• Growth Restraints
• Revenue Forecast, Total Market
• Revenue Forecast by Application, Total Market
• Revenue Forecast by Region, Total Market
• Revenue Forecast by End-user, Total Market
• Revenue Forecast Analysis, Total Market
• Supplier Capability Matrix
• Technology Trends: Fire Detection
• Technology Trends: Fire Suppression
• Sustainability Trends in Fire Safety

3. Regional Outlook: Europe

• Region Snapshot: Europe
• Market Snapshot: Germany
• Market Snapshot: UK
• Market Snapshot: France
• Market Snapshot: Italy
• Market Snapshot: Spain and Portugal
• Market Snapshot: Benelux
• Market Snapshot: Nordics

4. Regional Outlook: North America

• Region Snapshot: North America
• Market Snapshot: US
• Market Snapshot: Canada

5. Regional Outlook: APAC

• Region Snapshot: APAC
• Market Snapshot: China
• Market Snapshot: India
• Market Snapshot: Japan and South Korea
• Market Snapshot: ANZ
• Market Snapshot: Southeast Asia

6. Regional Outlook: MEA

• Region Snapshot: MEA
• Market Snapshot: UAE
• Market Snapshot: Saudi Arabia
• Market Snapshot: Qatar
• Market Snapshot: South Africa
• Market Snapshot: Egypt

7. Regional Outlook: Latin America

• Region Snapshot: Latin America
• Market Snapshot: Brazil
• Market Snapshot: Mexico
• Market Snapshot: Argentina

8. Growth Opportunity Universe

• Growth Opportunity 1: Integration of Fire Safety with BIM
• Growth Opportunity 2: Smart and Connected Fire Safety
• Growth Opportunity 3: Sustainable Fire Safety
• Growth Opportunity 4: Robotics in Fire Safety

For more information about this report visit https://www.researchandmarkets.com/r/s9w4zd

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SOURCE Research and Markets