Fire Protection Systems Market - Forecasts from 2024 to 2029

The fire protection systems market is expected to grow at a CAGR of 7.83%, reaching a market size of US$126.032 billion in 2029 from US$74.335 billion in 2022.

Stringent regulations regarding workers’ safety across different industries are the major drivers of the fire protection system market. Fire protection systems are made according to the governments’ specified standards and regulations. The market is driven due to the growing awareness and requirement for fire protection systems to be installed in buildings and factories. There is a high risk of fire in risk-prone industries such as manufacturing, oil & gas, and energy and power which, in turn, is propelling the market growth of the fire protection system. Increasing cases of natural calamity are further contributing to the market growth of the fire protection system. Strict and mandatory building safety codes are pressurizing building management companies to install a fire protection system. Hence, the rising construction of buildings, both residential and commercial, is positively impacting the market growth of fire protection systems. Increasing investments in smart cities provide a great opportunity for fire protection system manufacturers to expand their market share which will fuel the market growth during the forecast period. Smart cities are most likely to demand automation technologies related to fire protection systems like wireless sensory networks and centralized protection systems connected to LAN/WAN networks.

Rising demand for suppression systems

The suppression system uses a combination of dry chemicals and wet agents to control and extinguish the fire. The automatic suppression system is the most widely used fire protection system owing to its large-scale use in large commercial buildings like schools, hotels, and hospitals, as it requires low setup costs. The demand for suppression systems is further expected to grow in the forecast period due to the rising construction of smart cities across different regions supported by government mandates to install fire protection systems. The detection system market will also grow at a considerable CAGR during the forecast period as it allows users to respond quickly and take rapid action in case of a fire breakout.

By end-user, the industrial segment holds a significant market share

Growing industries such as oil & gas, chemical, and automotive around the world are significantly spurring the market growth of fire protection systems. The high use of fire protection systems by oil & gas in onshore and offshore facilities, gas plants, refineries, and chemical, and petrochemical plants is driving the market for fire protection systems. Growing healthcare infrastructure is bolstering the demand for fire protection systems across this sector to effectively detect, contain, and extinguish fires quickly. The rising construction of office spaces, hotels, and shopping complexes is driving the market growth of fire protection systems across the commercial sector to minimize the risk of potential fire hazards. The residential sector will witness a substantial CAGR during the forecast period owing to the rising investments, both public and private, to boost the construction of residential buildings to house the ever-increasing population.

By geography, North America is one of the major regional markets

North America is expected to have a notable market share in the fire protection system market due to the strict workers’ safety regulations coupled with the presence of major market players in the region. High investments to ramp up the infrastructural development in North American countries also contribute to the market growth of the fire protection system in this region. For instance, the Canadian government has planned to invest a total of US$139 billion under the ‘Investing in Canada Plan’ in key infrastructure sectors through 2028. APAC will witness significant market growth during the projected period. The growth of this regional market is attributed to the increasing number of production facilities across various end-user industries like energy and power, food and beverage, chemicals, and pharmaceuticals, which require protection from fire to safeguard their employees and assets. Furthermore, supportive government policies and initiatives to focus on workers’ safety are also propelling market growth in this region.

Market key launches

• In September 2023, HFI, a new fire safety solution company within the Safety sector in India, was introduced by Halma, a global group of life-saving technology companies. With this calculated action, Halma's fire division is repositioning itself as a solution-oriented company that can meet partners' and customers' intricate safety needs in the area.
• In June 2023, Fike Corp., a global manufacturer and supplier of fire protection systems headquartered in Blue Springs, Missouri, introduced its latest fire suppression solution, Fike Fire Monitors.  According to Fike, these automated water cannons can put out hard-to-reach fires frequently in as little as 15 seconds after they are detected. The cannons can be used to create a water-based fire suppression system in conjunction with Fike flame detectors, high-definition cameras, and thermal imaging cameras.
• In October 2022, Johnson Controls completed the acquisition of Rescue Air Systems, a leading provider of Firefighter Air Replenishment Systems (FARS). FARS allows firefighters to refill breathing air bottles within buildings during emergency responses, catering to a growing demand for enhanced safety measures. This acquisition aligns with regulatory requirements mandating FARS in many jurisdictions and strengthens Johnson Controls' fire suppression portfolio. By offering customers a comprehensive range of residential and commercial fire protection solutions, including specialty applications, Johnson Controls aims to become a trusted source in the industry.
• In April 2022, Johnson Controls acquired Xcell Misting Ltd, a fire protection company specializing in designing and installing fire suppression and detection systems. This acquisition enables Johnson Controls to leverage Xcell Misting's expertise in innovative water mist technologies and enhance its offerings in fire protection and security. Based in Norwich, Xcell Misting serves various sectors in the UK, including food, technology, data centers, high-hazard environments, gas turbines, automotive manufacturing, and waste management. With a team of skilled professionals, engineers, installers, and managers, Xcell Misting provides around-the-clock support and deploys fire protection systems tailored to clients' needs.

Segmentation:

By Product

• Detection Systems
• Suppression System
• Fire Sprinklers
• Others

By End-User

• Residential
• Commercial
• Industrial
• Healthcare
• Oil & Gas
• Food and Beverage
• Chemical
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• Israel
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Indonesia
• Others