Fire Safety Equipment Global Market Report 2024

Fire safety equipment constitutes a collection of tools and apparatus designed for extinguishing fires. This equipment is employed by both professional firefighters and individuals without formal training during a fire emergency. Additionally, fire safety equipment can be integrated into a building's infrastructure, as seen in systems like sprinklers.

The primary categories of products in fire safety equipment include extinguishers, fire hydrants, respirators, and other related items. Fire extinguishers, for instance, are portable devices employed to extinguish small fires by directing substances onto them that either cool the burning material, deprive the flames of oxygen, or interfere with the chemical reactions within the fire. Solutions within the realm of fire safety equipment also encompass fire detection and suppression, incorporating various technologies such as active and passive fire safety systems. These systems find applications in commercial, industrial, and residential settings.

The fire safety equipment market research report is one of a series of new reports that provides fire safety equipment market statistics, including fire safety equipment industry global market size, regional shares, competitors with a fire safety equipment market share, detailed fire safety equipment market segments, market trends and opportunities, and any further data you may need to thrive in the fire safety equipment industry. This fire safety equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fire safety equipment market size has grown strongly in recent years. It will grow from $45.07 billion in 2023 to $47.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historical period can be attributed to several factors, including adherence to regulatory compliance, a rise in building construction activities, the effects of urbanization and population growth, increased demand for industrial and commercial development projects, and a heightened emphasis on workplace safety. These factors collectively contributed to the growth experienced during the historic period.

The fire safety equipment market size is expected to see strong growth in the next few years. It will grow to $62.24 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period is driven by various factors, including an increasing demand for sustainable and eco-friendly solutions in fire safety, elevated fire risks associated with climate change, a surge in data center construction projects, the retrofitting of existing buildings for enhanced fire safety, and the ongoing development of infrastructure. Significant trends expected in the forecast period encompass the adoption of smart fire safety systems, advancements in fire suppression technologies, the implementation of fire detection and alarm systems, the use of specialized fire protection solutions, and the integration of wireless and remote monitoring capabilities, reflecting the industry's commitment to innovative and technologically advanced fire safety measures.

The fire safety equipment market is poised for growth, driven by the rapid expansion of the construction industry. Construction, encompassing building, alteration, repair, and demolition activities, is expected to reach $1.4 trillion by 2025, according to data from Invest India, an India-based investment promotion and facilitation agency. Additionally, by 2030, India's real estate sector is projected to be valued at $1 trillion, contributing significantly to the country's GDP. The robust growth in the construction industry underscores the increasing need for fire safety equipment at construction sites, enhancing user protection from fire hazards.

The fire safety equipment market is expected to benefit from the rising demand for residential projects. The term 'residential projects' encompasses a diverse range of construction endeavors focused on creating living spaces. Fire safety equipment plays a crucial role in residential projects, contributing to fire prevention, mitigation, and the protection of individuals and property from fire-related damage. In 2022, the value of new residential construction projects in the United States was estimated at $881 billion, marking a substantial 12% increase from the previous year, as reported by This Old House Ventures Inc. This uptick in residential construction projects further fuels the demand for fire safety equipment.

A notable trend in the fire safety equipment market is the increasing prevalence of strategic partnerships. Major companies in the sector are actively engaging in partnerships to enhance their market position. For instance, in July 2021, MSA Safety Incorporated, a prominent US-based safety products manufacturer, formed a strategic partnership with Perspective Robotics AG, a Switzerland-based aerial robotics design and manufacturing firm. The collaboration aims to improve situational awareness during fire incidents, both locally and remotely, demonstrating the industry's trend toward collaborative innovation.

Major companies in the fire safety equipment market are innovating to meet growing demand by developing advanced products such as Fike Fire Monitors. These autonomous water cannons are designed to rapidly extinguish flames, particularly in challenging locations, within a remarkable 15 seconds of detection. The integration of Fike flame detectors, high-definition cameras, and thermal imaging cameras with these water cannons results in a comprehensive water-based fire suppression system. This innovative approach to fire safety equipment addresses the need for quick and effective fire response, particularly in situations where traditional methods may face limitations.

In January 2021, CertaSite, a US-based company providing fire protection services, made a strategic acquisition by purchasing Great Lakes Fire & Safety Equipment Company. This acquisition, made for an undisclosed amount, serves to enhance CertaSite's customer base and facilitate expansion into new markets. Great Lakes Fire & Safety Equipment Company, as a manufacturer of fire extinguishers, brings valuable expertise and product offerings to CertaSite, contributing to the company's growth strategy in the fire protection services sector.

Major companies operating in the fire safety equipment market include Bosch Security System Inc., Hamla 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., United Technologies Corp., 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., Fire Equipment Manufacturers’ Association, 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

North America was the largest region in the fire safety equipment market in 2023. The regions covered in the fire safety equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the fire safety equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The fire safety equipment market consists of sales of fire bucket, fire hydrants and water mist systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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