Fire Protection System - Forecasts from 2024 to 2029

The fire protection systems market is expected to grow at a CAGR of 7.53%, reaching a market size of US$124.571 billion in 2029 from US$80.594 billion in 2024.

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 by the growing awareness and requirement for installing fire protection systems 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 its market growth. Strict and mandatory building safety codes pressurize building management companies to install a fire protection system. Hence, the rising construction of residential and commercial buildings is positively impacting the market growth of fire protection systems. Increasing investments in smart cities allow fire protection system manufacturers to expand their market share, which will fuel the market growth during the forecast period. Smart cities will most likely demand automation technologies related to fire protection systems like wireless sensory networks and centralized protection systems connected to LAN/WAN networks.

Fire Protection Systems Market Drivers:

Rising demand for suppression systems is anticipated to increase the market share

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 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.

High demand from the industrial sector is increasing the market demand

Growing industries such as oil & gas, chemical, and automotive worldwide 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 drives the market for fire protection systems. Growing healthcare infrastructure bolsters the demand for fire protection systems across this sector to 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 public and private investments to boost the construction of residential buildings to house the ever-increasing population.

Fire Protection Systems Market Restraint:

Complex maintenance is expected to impede the market growth

Businesses that have to maintain fire safety around the clock, like hotels and hospitals, face challenges due to complex maintenance procedures and costs. Advanced fire safety system installation and upkeep call for specific technical expertise. System deployment is hampered by the lack of skilled engineers and technicians. This problem is especially common in rural or isolated places. Incorporating advanced fire protection technology in older buildings may pose integration challenges. Historical landmarks like the Louvre Museum in Paris face challenges in modernizing fire safety without compromising architectural integrity. Retrofitting outdated infrastructure is complicated and expensive.

Fire Protection Systems Market Geographical Outlook

North America is expected to grow rapidly during the forecast period.

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. High investments to ramp up the infrastructural development in North American countries also contribute to the market growth of the fire protection system. 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. This regional market growth 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 also propel market growth.

Fire Protection Systems Market Developments:

• In September 2023, Halma, a global group of life-saving technology companies, introduced HFI, a new fire safety solution company within the Safety sector in India. 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 March 2023, for domestic use, Rotarex Firetec introduced the TRIPLESTAR® residential kitchen fire protection system. The TRIPLESTAR® technology has already been implemented in thousands of commercial kitchens worldwide, demonstrating its value to catering industry experts. The TRIPLESTAR® system is being introduced by Rotarex Firetec today for use in residential kitchens, where there is an equally real risk of ignition. The system can give property owners, parents, or visitors peace of mind, whether it is for short-term rentals, student apartments, or elderly protection in care facilities. The Rotarex Firetec TRIPLESTAR® residential kitchen system is completely self-contained, operates without a power source, and quickly puts out fires. This drastically cuts down on the possibility of requiring human intervention and greatly minimizes downtime.

Fire Protection Systems Key Market Segmentation:

The Fire Protection Systems Market is segmented and analyzed as below:

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