Global Fire Safety Equipment Market

Global Fire Safety Equipment Market Size, Share, Growth Analysis, By Solution(Detection, Detector), By Application(Commercial, Industrial) - Industry Forecast 2024-2031

Report ID: SQMIG20H2030 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 66 | Figures: 65

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Global Fire Safety Equipment Market size was valued at USD 50 billion in 2022 and is poised to grow from USD 53.20 billion in 2023 to USD 87.39 billion by 2031, growing at a CAGR of 6.4% in the forecast period (2024-2031).

The competitive landscape of the global fire safety equipment market is characterized by intense rivalry and a diverse array of players striving for prominence. Established industry giants leverage their extensive experience, widespread distribution networks, and brand recognition to maintain substantial market shares. Their comprehensive portfolios encompass fire alarms, extinguishers, and suppression systems, bolstering their competitive edge. 'Honeywell International Inc. (United States)', 'Johnson Controls International plc (Ireland)', 'Siemens AG (Germany)', 'Tyco International plc (Ireland)', 'United Technologies Corporation (United States)', 'Hochiki Corporation (Japan)', 'Robert Bosch GmbH (Germany)', 'Gentex Corporation (United States)', 'Kidde (United Kingdom)', 'Minimax Viking Group (Germany)'

Rapid urbanization and industrial growth are boosting the demand for fire safety equipment across residential, commercial, and industrial sectors.

Green and Sustainable Solutions: Growing emphasis on environmental sustainability is fostering the development of eco-friendly fire safety equipment that minimizes the use of harmful chemicals and reduces environmental impact.

In 2022, North America asserted its dominance in the market, commanding a market share that exceeded 37.0%. The substantial contributions of the U.S. and Canada played a pivotal role in this growth, driven by the rapid expansion of commercial and industrial construction endeavors. This surge is further propelled by stringent fire safety regulations and standards, which serve as catalysts for regional advancement. Notably, in the U.S., the adoption and enforcement of the Fire Code by local and state jurisdictions, overseen by fire prevention officers within municipal fire departments, underscore the commitment to robust fire safety measures.

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