What is the global market size of Fire Alarm Market?

Fire Alarm Market size was valued at USD 29.75 billion in 2021 and is poised to grow from USD 31.89 billion in 2022 to USD 59.63 billion by 2030, growing at a CAGR of 7.2% in the forecast period (2023-2030).

Global Fire Alarm Market Size, Share, Growth Analysis, By Product(Fire detectors, Fire alarms), By Detector Type(Flame detectors, smoke detectors), By Alarm Type(Audible alarms, Visual alarms), By Application(Automotive, power & utility), By End-User(Consumer Electronics, Healthcare) - Industry Forecast 2024-2031

Report ID: SQSG20L2010 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 147 | Figures: 78

Global Fire Alarm Market Regional Insights

Globally, North America accounted for the largest global fire alarm market share in 2021. Increasing instances of fire and fatalities in the region is driving revenue growth of the market.

Every 89 sec a home fire and property loss occurred, and damages accounted for USD 32,430 million in the U.S. These instances are increasingly generating demand for these alarms.

Stringent regulations and fire prevention regarding installation of these alarms in public properties such as offices, hospitals, schools, shopping malls, and retail stores are driving revenue growth in the region.

Europe accounted for a steady revenue share in the fire alarm market in 2021. Rising awareness of installation of firefighting systems in industrial and commercial premises is significantly driving revenue growth in the region.

Around 50 people death occurred due to fire fatalities in 2021. Also, many consumers are installing firefighting equipment such as smoke alarms for fire prevention has also contributed to revenue growth of the market in the region.

Asia Pacific accounted for a moderate revenue share in the global market in 2021. Rising developments in building and construction are attributed to revenue growth in the region.

A large number of builders and developers are highly adopting firefighting equipment such as fire alarms to warn residents and firemen and keep commercial and residential properties safe from the threat of fire.

Also, these alarms are highly adopted in industrial premises such as warehouses and power plants are driving revenue growth of the market in the region.

Global Fire Alarm Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Fire Alarm Market size was valued at USD 29.75 billion in 2019 and is poised to grow from USD 31.89 billion in 2023 to USD 59.63 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).

Global Fire Alarm Market is fragmented with the presence of several big players such as Robert Bosch GmbH, Honeywell International, Inc., Gentex Corporation, Halma plc. Major payers are primarily focusing on the development, innovation, and efficiency of products to provide various benefits related to Fire. Increasing R&D investments is another strategy opting by key players to strengthen their market position. 'Honeywell International Inc.', 'Johnson Controls International plc', 'Siemens AG', 'United Technologies Corporation (a subsidiary of Raytheon Technologies Corporation)', 'Bosch Sicherheitssysteme GmbH', 'Halma plc', 'Gentex Corporation', 'Hochiki Corporation', 'Napco Security Technologies, Inc.', 'Notifier (a subsidiary of Honeywell International Inc.)', 'Nohmi Bosai Ltd.', 'Panasonic Corporation', 'Potter Electric Signal Company, LLC', 'Robert Bosch GmbH', 'Securiton AG', 'SimplexGrinnell (a subsidiary of Johnson Controls International plc)', 'System Sensor (a subsidiary of Honeywell International Inc.)', 'Tyco International Ltd. (a subsidiary of Johnson Controls International plc)', 'Vigilant Technologies, LLC (a subsidiary of Securitas AG)', 'Xtralis Pty Ltd (a subsidiary of Honeywell International Inc.)'

The demand for advanced fire safety systems in fire-prone industrial settings, such as automotive, power & utility, mining, petrochemical, and oil & gas exploration, will drive the market growth over the next seven years.

Consumers are preferring smart modern fire alarm systems to prevent potential fatalities and damages. Also, these alarm systems are more sensitive and effective compared to conventional systems. This consumer positively affected demand for these products, which has further contributed to revenue growth of the fire alarm market.

Globally, North America accounted for the largest global fire alarm market share in 2021. Increasing instances of fire and fatalities in the region is driving revenue growth of the market.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Fire Alarm Market Regional Insights

Global Fire Alarm Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Fire Alarm Market?

Who are the key vendors in the Global Fire Alarm Market?

What is the key driver of Global Fire Alarm Market?

What is the key market trend for Global Fire Alarm Market?

Which region accounted for the largest share in Global Fire Alarm Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300