Fire Alarm And Detection Industry Overview
The global fire alarm and detection market size is expected to reach USD 56.06 billion by 2030, registering a CAGR of 7.2% from 2022 to 2030, according to a study conducted by Grand View Research, Inc. The market is gaining prominence, more so amidst the COVID-19 pandemic that hit the world economy in 2020, with businesses shifting to remote working models. The demand for residential fire safety witnessed a rise, with people spending extended hours working from home. The global demand continues to witness growth over the next seven years. While the pandemic created a few lucrative opportunities for the Original Equipment Manufacturers (OEMs), awareness about the safety and security of assets in the commercial sector also increased.
As businesses resume operations, the need to safeguard facilities with guidelines and installations promoting fire safety will encourage building owners to either replace old equipment or install new safety devices. In addition, the advancements in fire safety products by leveraging the latest wireless technologies will help OEMs keep up with the competitive rivalry in the industry.
Fire Alarm And Detection Market Segmentation
Grand View Research has segmented the global fire alarm and detection market report on the basis of product, fire detectors type, fire alarm type, application, and region:
Based on the Product Insights, the market is segmented into Fire Detectors, and Fire Alarms.
- The fire detectors product segment accounted for the highest revenue share of more than 50.5% in 2021. Fire detectors have applications in detecting leaks, such as gas, that could result in a fire accident. Regulations in several countries that encourage the adoption of fire detectors are is the key factor favoring product sales, a trend expected to continue till 2030.
- The fire alarms segment is expected to register the fastest CAGR exceeding 7.3% from 2022 to 2030. Fire regulations will continue to play a vital role in boosting the product demand.
Based on the Fire Detectors Type Insights, the market is segmented into Flame Detectors, Smoke Detectors, and Heat Detectors.
- Fire detectors are further categorized into heat, smoke, and flame detectors. Heat detectors will witness the fastest CAGR exceeding 8% over the forecast period. Heat detectors are a preferred choice where the ambient temperature is high or for areas with rapid temperature changes. These areas could include garages, mechanical rooms, storage facilities, and commercial kitchens, among others.
- The smoke detectors segment led the market in 2021 accounting for a revenue share of more than 45%. Smoke detectors are often used in areas to detect smoldering slow fire, such as residential apartments or commercial facilities.
Based on the Fire Alarms Type Insights, the market is segmented into Audible Alarms, Visual Alarms, and Manual Call-points.
- The fire alarms segment includes manual call points, visual, and audible alarms. Audible alarms emerged as the dominant segment in 2021.
- The segment will retain its leading position throughout the forecast period as audible alarms are a vital element of any fire alarm system due to their ability to notify people about a hazardous situation.
Based on the Application Insights, the market is segmented into Commercial, Industrial, and Residential.
- The commercial segment captured the highest revenue share of more than 44% in 2021 and is estimated to maintain its leading position throughout the forecast period. The growing importance of fire safety equipment in business facilities and the need to follow government guidelines favor the segment growth.
- The residential segment is expected to register the fastest CAGR over the forecast period. Installation of fire sprinkler systems in residential establishments has been gaining significant traction over the past couple of years.
Fire Alarm And Detection Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile
Tapping opportunities in emerging countries will be a key focus area for most market participants. Research & development activities will help companies develop advanced products integrating the latest technologies in a bid to beat the competition. The regional strategy focuses on cost-effectiveness, capturing regional contracts, and having a local sales network, particularly in emerging markets.
Some of the key companies in the global fire alarm and detection market are:
- Johnson Controls International plc
- Honeywell International, Inc.
- Napco Security Technologies, Inc.
- Nittan Co., Ltd.
- Siemens AG
- Halma plc
- United Technologies Corp.
- Robert Bosch GmbH
- Eaton Corp.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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