According to a new market research report published by Credence Research, “Fire Protection Systems Market - Growth, Future Prospects, and Competitive Landscape, 2018 -2026”, the global market for fire protection systems is expected to expand to CAGR by 7.8% between 2018 and 2026.
Market Insights
Fire protection systems are devices used to prevent or control and extinguish the fire. Ideally, fire detectors and heat detectors are coupled with an alarm system that alerts employees to the potential risk of fire or explosion due to possible gas leakage. Following the rising occurrence of fire outbreaks at the workplace and the resulting loss of assets, companies across vertical lines have realized the importance of installing state-of-the-art automated safety solutions, including fire protection units. In addition to this apprehension, strict regulations and codes to promote occupational health and personnel safety are instrumental in driving the demand for fire protection systems worldwide.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/fire-protection-system-market
As a result, the need for safety at work for life and equipment remains a key factor driving market demand worldwide. With ever-increasing energy demands, oil & gas exploration activities are on the rise, leading to fire protection systems on-site. In addition, with a significant number of floating liquefied natural gas vessels proposed to be established in the Asia Pacific, demand for fire suppression systems is expected to increase in the coming years. Ongoing trends, including the modernization of existing civil infrastructure, an increase in industrialization and growing popularity of green offices and eco-friendly buildings, are collectively driving demand for safety sensing technologies across vertical lines. All of these factors are expected to contribute positively to the CAGR of 7.8% over the forecast period from 2018 to 2026.
On the other hand, the negative impact on cash flows of oil producers can be seen in the wake of unstable oil prices worldwide. In the event that this situation remains unchanged, it may have a negative impact on the number of upcoming oil & gas projects and the associated demand for safety solutions. The global market for fire protection systems is fragmented and competitive with a large number of players active on the market.
List of Companies Covered:
ABB Ltd
Siemens AG
Honeywell International Inc.
Johnson Controls, Inc.
United Technologies
Robert Bosch GmbH
Hochiki Corporation
Gentex Corporation
Minimax Viking GmbH
VFP Fire Systems, Inc.
Halma PLC
Others.
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58242
Market Segmentation
By End-use Vertical Segment
- Residential
- Commercial
- Oil & Gas
- Industrial Manufacturing
- Transportation
- Government
- Mining & Energy
- Others (Education, Healthcare, etc.)
By Product Segment
- Fire Alarm Systems
- Fire Suppression Systems
- Fire Standpipe Systems
- Others
By Technology Segment
- Active Fire Protection Systems
- Passive Fire Protection Systems
By Geography Segment Type
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
Key questions answered in this report
- What was the global market size for fire protection systems in 2016 & 2017?
- What is estimated forecast and market projections up to 2026?
- Which is largest regional market for fire protection systems?
- Which end-use vertical has the largest penetration of fire protection systems?
- Which is the most preferred technology used in fire protection systems?
- Predominant trends shaping the global fire protection systems market worldwide?
- Which is the most attractive, promising, and less-explored end-use segment in the global fire protection systems market?
- Who are the leading manufacturers of fire protection systems worldwide?
- What are the key strategies adopted by the leading manufacturers in the global fire protection systems market?
Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58242
Medium Blog: Fire Protection Systems Market
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