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What Is the Growth Rate of the Fire Safety Equipment Market?

The market size of fire safety equipment has seen substantial growth over the past few years. It is forecasted to expand from $47.31 billion in 2024 to $50.12 billion in 2025, with a 6.0% compound annual growth rate (CAGR). The previous growth can be credited to regulatory adherence, a surge in building construction, an influx in urbanization and population, heightened demand in industrial and commercial progress, and an increased focus on safety in the workplace.

What Growth Rate Is Forecasted for the Fire Safety Equipment Market by 2029?

The market for fire safety equipment is projected to experience significant expansion in the upcoming years. The value of the market is projected to increase to $67.15 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%. This projected growth in the forecast period has been linked to increased demand for environmentally friendly solutions, rising fire risks associated with climate change, the expansion of data center construction, refurbishment of existing structures, and the development of more infrastructure. Future trends likely to impact the market during the forecast period include intelligent fire safety systems, fire suppression strategies, fire detection and warning systems, specialized fire protection, and wireless and remote monitoring facilities.

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Which Key Companies Are Shaping the Future of the Fire Safety Equipment Market?

Major companies operating in the fire safety equipment market include Bosch Security System Inc., Halma plc, Hochiki Corporation, Honeywell International Inc., Johnson Controls International plc, Napco Security Technologies Inc., Siemens Building Technologies pvt. Ltd., Gentex Corporation, Eaton Corporation Inc., Nittan Company Ltd., Space Age Electronics Inc., Lowa Fire Equipment Company, Hiren Industrial Corporation, Larsen Manufacturing LLC, National Fire Fighting Manufacturing, Tyco International Ltd., Bosch Security System Inc., Cooper Wheelock Inc., Panasonic Corporation, ADT Security Services Inc., WSA Fire Systems Inc., Robert Bosch GmbH, Eaton Corporation, Halma plc, Securiton AG, Securitas AB, Secom Co. Ltd., Walter Kidde & Company, Amerex Corporation, Ansul Incorporated, Buckeye Fire Equipment Company, Chemguard Inc., Elkhart Brass Manufacturing Company, Fike Corporation, Fireboy-Xintex LLC, Firetrace International, FlameStop Australia Pty Ltd., Minimax GmbH & Co. KG

Which Factors Are Driving Demand in the Fire Safety Equipment Industry?

The fire safety equipment market is projected to expand due to the surge in the construction industry. Construction activities involve the building, modification, repair, renovation, enhancement, or destruction of any building structures. Fire safety equipment plays a crucial role in these sites, safeguarding individuals from potential fire hazards. As per Invest India, an agency that promotes and facilitates investments in India, the construction industry is forecasted to hit $1.4 trillion by 2025. Additionally, India’s real estate sector is projected to be valued at $1 trillion by 2030, accounting for 13% of the nation’s GDP. Consequently, the accelerated growth of the construction sector fuels the expansion of the fire safety equipment market.

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How Is the Fire Safety Equipment Market Segmented by Several Divisions?

The fire safety equipment market covered in this report is segmented –

1) By Product: Extinguisher, Fire Hydrant, Respirator, Other Products

2) By Solution: Fire Detection, Fire Suppression

3) By Technology: Active Fire Safety Systems, Passive Fire Safety Systems

4) By Application: Commercial, Industrial, Residential

Subsegments:

1) By Extinguisher: Water-Based Extinguishers, Foam Extinguishers, Powder Extinguishers, CO2 Extinguishers, Wet Chemical Extinguishers

2) By Fire Hydrant: Wet Barrel Hydrants, Dry Barrel Hydrants, Dry Hydrants

3) By Respirator: Self-Contained Breathing Apparatus (SCBA), Air-Purifying Respirators (APR), Escape Respirators

4) By Other Products: Fire Blankets, Fire Hose Reels, Smoke Detectors, Fire Alarm Systems

What Are the Key Market Trends in the Fire Safety Equipment Industry?

Major players in the fire safety equipment industry, such as Fike Corp., are creating pioneering products like Fike Fire Monitors to cater to the rising need for fire safety. These autonomous water cannons known as Fike Fire Monitors can promptly put out fires in difficult regions, usually within just 15 seconds of identifying them. As an example, Fike Corp., a US-based company that manufactures and distributes fire protection systems, unveiled their line of autonomous water cannons known as Fike Fire Monitors in June 2023. With the integration of Fike flame detectors, high-resolution cameras, and thermal cameras into these water cannons, a complete water-based fire suppression system can be built.

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Which Regions Are Driving Growth in the Fire Safety Equipment Market?

North America was the largest region in the fire safety equipment market in 2024. The regions covered in the fire safety equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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This Report Delivers Insight On:

1. How big is the fire safety equipment market, and how is it changing globally?

2. Who are the major companies in the fire safety equipment market, and how are they performing?

3. What are the key opportunities and risks in the fire safety equipment market right now?

4. Which products or customer segments are growing the most in the fire safety equipment market?

5. What factors are helping or slowing down the growth of the fire safety equipment market?

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