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 News

In May 2021, Det-Tronics, a part of the Carrier Global Corporation, launched the BluEdge service platform, a differentiated service offering for its customers operating at high-hazard petroleum and oil & gas facilities.
In April 2021, Marioff has signed a contract with Rauma Marine Constructions (RMC) in Rauma, Finland, to deliver HI-FOG high-pressure water mist fire suppression systems to four new Pohjanmaa-class multi-purpose corvettes, part of the Finnish Navy’s Squadron 2020 project.

Global Fire Alarm Market Report Snapshots

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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.

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