The global fire alarm market size is expected to reach USD 23. 2
billion by 2025, according to a study by Grand View Research, Inc., registering
a CAGR of 4.3% during the forecast period. Fire alarm and detectors can protect
assets, avoid casualties, and prevent property damages by raising alerts about
a fire outbreak at an early stage. Recent accidents, such as the Grenfell Tower
fire in London in June 2017, have triggered the need to equip high rise towers
with effective fire alarm and detection systems. Growth in new residential and
commercial construction activities as well as renovation projects, and
subsequent need to upgrade existing fire alarm and detection systems are also
emerging as key factors driving fire alarm and detection market growth.
Advances in technology have resulted in introduction of wireless and
quick response systems that can detect the exact location of the fire and curb
false alarms. These systems are suitable for large-scale applications. However,
these systems are expensive as they incorporate several electronic components
and devices. Conventional systems are preferred for small-scale applications
owing to cost constraints.
Fire safety norms are particularly stringent in North America and
Europe. Moreover, the two regions are home to prominent market players, such as
Emerson Electric Co., Fike Corporation, Gentex Corporation, and Halma plc.
Hence, the North American and European regional markets are currently
dominating the fire alarm market. However, regional markets in emerging
economies, such as India and China, are expected to exhibit a higher CAGR over
the forecast period in line with growing awareness about fire safety.
Full research report on fire alarm market analysis:
https://www.grandviewresearch.com/industry-analysis/fire-alarm-market
https://www.grandviewresearch.com/industry-analysis/fire-alarm-market
Further key findings from the study suggest:
·
Rising adoption of fire alarm &
detection systems in response to stringent fire safety norms has propelled the
growth of the global market, which is expected to register a CAGR of over 4.0%
during the forecast period
·
Addressable systems are expected to emerge
as the largest segment, projected to reach a value of USD 17.2 billion by 2025.
This is owing to numerous benefits, such as quick response time, high reliability,
and reduced cabling, offered by addressable alarm technology
·
Market size of the smoke detectors segment
is projected to reach USD 10.4 billion over the forecast period. This can be
attributed to the affordability of smoke detectors as well as their capability
to detect low-intensity fires
·
The market for alarm & detection
systems used in commercial applications is expected to continue dominating the
overall market over the forecast period, and the market size of the segment is
expected to exhibit a CAGR of over 4.5%
·
North America is currently the largest
market and is expected to remain so over the forecast period. The region is
known for early adoption of fire detection technology and is also home to
leading market players
·
Emersion Electric Co.; Fike Corporation;
Gentex Corporation; Halma plc; Hochiki Corporation; and Honeywell
International, Inc. are some of the prominent players in the market.
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of this category by Grand View Research at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global fire alarm & detection
market based on alarm technology, detection technology, application, and
region:
Fire Alarm &
Detection Alarm Technology Outlook (Revenue, USD Million, 2014 - 2025)
·
Conventional Systems
·
Addressable Systems
Fire Alarm &
Detection Technology Outlook (Revenue, USD Million, 2014 - 2025)
·
Flame Detectors
·
Smoke Detectors
·
Heat Detectors
Fire Alarm &
Detection Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Commercial
·
Industrial
·
Residential
Fire Alarm &
Detection Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Mexico
o Canada
·
Europe
o U.K.
o Germany
·
Asia Pacific
o China
o India
o Japan
·
South America
o Brazil
·
MEA
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-fire-alarm-detection-market
https://www.grandviewresearch.com/press-release/global-fire-alarm-detection-market
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.