Fire Alarm Market Updates

Global Fire Alarm Market size was valued at USD 31.2 billion in 2023 and is poised to grow from USD 33.23 billion in 2024 to USD 54.99 billion by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032). 

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. 'Johnson Controls (Ireland) ', 'Honeywell (US) ', 'Siemens (Germany) ', 'Carrier Global Corporation (US) ', 'Halma plc (UK) ', 'Gentex Corporation (US) ', 'Notifier (US) (part of Honeywell) ', 'SimplexGrinnell (US) (part of Johnson Controls) ', 'Hochiki Corporation (Japan) ', 'Securiton AG (Switzerland) ', 'Robert Bosch GmbH (Germany) ', 'NAPCO Security Technologies, Inc. (US) ', 'Edwards Signaling (US) (part of Carrier) ', 'Mircom Group of Companies (Canada) ', 'Fike Corporation (US) ', 'Protectowire FireSystems (US) ', 'VFP Fire Systems (US) '

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.