The global fire safety systems market was US$ 11.5 billion in 2021. The global fire safety systems market is forecast to grow to US$ 21.06 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.

Factors Influencing the Market

Growing awareness about the benefits of fire safety systems and rising urbanization will drive the fire safety market forward. In addition, increasing cases of fire outbreaks will surge the demand for fire safety systems throughout the forecast period.

Stringent government regulations and mandates to adopt important safety measures will fuel the growth of the global fire safety systems market. For instance, the government of the UK has announced that fire alarm and detection systems should be installed and maintained under the relevant British Standard, BS 5839. Thus, such mandates are expected to surge the growth of the global fire safety systems market.

High installation and maintenance costs associated with the fire safety systems may limit the growth of the market. On the contrary, growing construction activities will also upsurge the demand for fire safety systems.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic has hampered the manufacturing of fire safety systems. Due to the pandemic, fire safety system manufacturers went through various obstacles. To abide by the stringent regulations, manufacturers had to shut the doors on a temporary basis. As a result, it hampered the growth of the global fire safety systems market. Moreover, the demand for fire safety systems also fell drastically due to a decline in construction activities.

Regional Analysis

The Asia-Pacific fire safety systems market is forecast to grow at the highest growth rate. It is owing to growing industrialization and increasing urbanization. In addition, the fire safety systems market is forecast to witness rapid growth in China due to the increasing number of manufacturing factories. Furthermore, rising investments and spending on developing the infrastructure for surveillance will upsurge the demand for the fire safety systems market. Rising incidences like the plant explosion in Chinas Jiangsu province in March 2019 have significantly surged the need to strengthen security in the industrial segment. As a result of all these factors, the Asia-Pacific fire safety systems market will grow rapidly during the forecast period.

Competitors in the Market

Johnson Controls International PLC
Honeywell International Inc.
Gentex Corporation
United Technologies Corporation
Siemens AG
Robert Bosch GmbH
Halma PLC
Hochiki Corporation
Viking Group Inc.
Victaulic Co.
Fike Corporation
Securiton AG.
Other Prominent Players
Market Segmentation

The global fire safety systems market segmentation focuses on Product, Technology, End-User, and Region.

By Product Type

Fire Detectors
Fire Suppression
By Technology

Passive
Active
By End-User

Commercial
Industrial
Educational
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America