Home Press Releases The Fire Protection System Market’s Growth to $97.2 Billion by 2029

The Fire Protection System Market’s Growth to $97.2 Billion by 2029

by Press Room


(EMAILWIRE.COM, March 06, 2024 ) The Global Fire Protection System Market size is anticipated to grow from USD 71.6 billion in 2024 to USD 97.2 billion by 2029, at a CAGR of 6.3% from 2024 to 2029. A fire protection system is a network of products designed to detect, prevent, suppress, or control fires in various settings, such as residential, commercial, industrial, and public spaces. These systems typically include fire alarms, smoke detectors, sprinkler systems, fire extinguishers, fire doors, and fire suppression systems, all aimed at minimizing the risk of fire-related damage, injuries, and loss of life.

Key Market Players

Carrier (US), Honeywell International Inc. (US), Johnson Controls (Ireland), Robert Bosch GmbH (Germany), and Siemens (Germany) are among a few top players in the fire protection system companies.

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1018

By product, the fire sprinkler segment is expected to gain a significant market share during the forecast period. Fire sprinklers are effective in controlling or suppressing fire. These systems comprise a network of pipes in walls and ceilings with sprinkler heads, protecting hallways, rooms, stairways, and other building areas. Although primarily used in commercial and industrial buildings, they are increasingly gaining traction in smart buildings and homes. A fire sprinkler is a fire protection system consisting of fire sprinkler heads, alarm test valves, alarm valves, stop valves, and motorized alarm bells. It provides significant protection from fire-related hazards.

Installation & design services segment to grow at an impressive CAGR during the forecast period. Fire safety systems are crucial for ensuring the safety of occupants during emergencies in commercial, industrial, and public buildings. Designers collaborate with architects, electricians, owners, and contractors to create customized fire protection systems that detect and respond to fires. The design process includes system integration services, open protocol options, energy divisions, fire safety training, exports, and other services. In the fire protection system market, installation and design services are indispensable for establishing effective and compliant safety measures tailored to specific needs.

The academia & institutional commercial vertical is projected to grow at a significant CAGR during the forecast period. Robust fire protection systems are critical in academic & institutional settings, such as schools, universities, museums, libraries, and government buildings. These buildings serve distinct purposes but share a common need for comprehensive fire safety measures. Addressing fire risks is essential to preserving life, heritage, and knowledge within these vital spaces. Fire protection systems are installed in these buildings to ensure the safety of occupants and safeguard valuable collections and artifacts. Typically, water-based fire sprinkler systems, along with fire suppression, detection, and sprinkler systems, are used in this space, all of which contribute to overall fire protection in educational institutions.

Ask for Sample Report @

https://www.marketsandmarkets.com/requestsampleNew.asp?id=1018

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.



Source link

You may also like

About Us

Arab Africana™ publishes and aggregates business, socio-economic, Tech and industrial news on Arab countries in Africa.

 

We provide press release distribution to media in Africa including Arab countries, the Arab world and the GCC/MENA regions. To submit a press release for distribution, contact us today.

Trending Now

Newsletter

    ArabAfricana logo-white

    Arab Africana is part of GroupWeb Media Network. ©  2024 GroupWeb Media LLC