The Fire Detection Equipment Market Is Estimated To Reach $13.12 Billion By 2027 At A CAGR Of 10.8%- Includes Fire Detection Equipment Market Analysis
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Stringent government regulations and mandates on fire detection measures are expected to drive innovation in fire detection equipment manufacturing, thus driving the market during the forecast period.
The global fire detection equipment market is expected to grow from $7.82 billion in 2022 to $8.71 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The global fire detection equipmen market size is expected to grow to $13.12 billion in 2027 at a CAGR of 10.8%.
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Global fire detection equipment Market Segments Include:
- By Product Type:Flame Detectors, Smoke Detectors, Heat Detectors
- By Connectivity:Wired, Wireless
- By End-Use Industry:Banking, Financial Services and Insurance (BFSI), Hospitality &Travel, Healthcare, Transportation & Logistics, Manufacturing, Retail, Mining, Oil and Gas, Other End-User Industries
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global fire detection equipment market in 2021.
Major Market Players in the fire detection equipment market include Johnson Controls, Honeywell International, United Technologies, Siemens, Halma, Gentex, Robert Bosch, Hochiki, Securiton AG.
The entities involved in the fire detection equipment market are using Infrared technology to reduce the false alarms from these systems and, at the same time, shorten the time it takes alarms to detect actual fires. The use of Infrared technology increases the fire detection capabilities of a detector even in the dusty atmosphere. For instance, MSA Safety Incorporated, a U.S based company involved in the making sophisticated safety products launched an FL4000H multi-spectrum IR flame detector that uses multi-spectrum IR (Infrared) to detect the flames 210 feet away and also monitors false alarms. The device employs flame recognition technology to confirm fire by analyzing near IR radiation thus producing more effective, reliable results.
The Fire Detection Equipment Global Market Report 2023 provides a fire detection equipment market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The fire detection equipment market forecast analyzes fire detection equipment market size, fire detection equipment market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Fire detection equipment reduces the damage caused by fire by generating warning signals (including audio or visual signals) in case of fire. Detection of fire is done by detecting the smoke, heat or flames.
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