Fire Alarm Market
Report ID: SQSG20L2010
Fire Alarm Market Size, Share, Growth Analysis, By Product Type(Audible Alarms, Visual Alarms, and Manual Call-points Alarms), By Technology(Conventional Fire Alarm Systems and Addressable Fire Alarm Systems), By Connectivity(Wired, Wireless, and Hybrid), By End User(Commercial, Industrial, and Residential), By Region - Industry Forecast 2024-2031
Report ID:
SQSG20L2010 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
147
|Figures:
78
Fire Alarm Market Insights
Fire Alarm Market size was valued at USD 29.75 billion in 2019 and is poised to grow from USD 31.89 billion in 2023 to USD 59.63 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).
Increasing awareness among individuals about protection against fire incidents is expected to expand the demand for the fire alarm market during the projection period. Factors such as the ongoing progress in the construction enterprises, the expansion of residential & commercial infrastructures throughout the globe, and the increased rate of fire protection system deployment in educational universities are propelling the market growth during the forecast period.
Additionally, rising fire-related expenditure of different corporations and the rise in loss & deaths of properties is also helping to drive the market growth. Increased awareness about safety & security and the continuous technological developments in alarming devices will shape the future of the market. Government initiatives & support are becoming more prevalent, along with the rising construction of smart buildings, which boost market growth during the forecast period.
US Fire Alarm Market is poised to grow at a sustainable CAGR for the next forecast year.
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Fire Alarm Market Segmental Analysis
Global Fire Alarm Market is segmented by product type, technology, connectivity, end-user, and region. Based on product type, the market can be segmented into Audible Alarms, Visual Alarms, and Manual Call-points Alarms. Based on technology, the market is segmented into Conventional Fire Alarm Systems and Addressable Fire Alarm Systems. Based on connectivity, the market is segmented into Wired, Wireless, and Hybrid. Based on end-user, the market is segmented into Commercial, Industrial, and Residential. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Fire Alarm Market Analysis by Product
The manual initiating devices segment accounted for a larger revenue share in 2021. Manual pull station types are convenient to initiate a fire alarm in case of an emergency.
This means an individual must break the glass or plastic covers containing a pull station for triggering the alarm button.
Two types of pull stations such as single action or dual action fire alarm product types are commercially available in the market. Automatic initiating devices automatically activate after detecting heat, smoke, or fire.
Fire Alarm Market Analysis by End-User
The commercial segment accounted for a larger revenue share in 2021. Fire alarms are highly adopted in commercial spaces such as offices, hospitals, schools, shopping malls and retail stores, hotels, restaurants, and others.
Fires in commercial properties cost owners over USD 2.4 billion per year. Commercial property fires such as hotels, restaurants, and cafes are caused by food preparation from stoves and ovens. Industrial fires are a major segment in generating revenue in the fire alarm market.
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Fire Alarm Market Regional Insights
Globally, North America accounted for the largest global fire alarm market share in 2021. Increasing instances of fire and fatalities in the region is driving revenue growth of the market.
Every 89 sec a home fire and property loss occurred, and damages accounted for USD 32,430 million in the U.S. These instances are increasingly generating demand for these alarms.
Stringent regulations and fire prevention regarding installation of these alarms in public properties such as offices, hospitals, schools, shopping malls, and retail stores are driving revenue growth in the region.
Europe accounted for a steady revenue share in the fire alarm market in 2021. Rising awareness of installation of firefighting systems in industrial and commercial premises is significantly driving revenue growth in the region.
Around 50 people death occurred due to fire fatalities in 2021. Also, many consumers are installing firefighting equipment such as smoke alarms for fire prevention has also contributed to revenue growth of the market in the region.
Asia Pacific accounted for a moderate revenue share in the global market in 2021. Rising developments in building and construction are attributed to revenue growth in the region.
A large number of builders and developers are highly adopting firefighting equipment such as fire alarms to warn residents and firemen and keep commercial and residential properties safe from the threat of fire.
Also, these alarms are highly adopted in industrial premises such as warehouses and power plants are driving revenue growth of the market in the region.
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Fire Alarm Market Dynamics
Fire Alarm Market Drivers
Rising Demand for Worker’s Safety at Critical, Industrial Setting to Bring Lucrative Opportunities for Global Fire Alarm Market
- The demand for advanced fire safety systems in fire-prone industrial settings, such as automotive, power & utility, mining, petrochemical, and oil & gas exploration, will drive the market growth over the next seven years.
- Fire safety between the newly minted work-from-home model considering the COVID-19 pandemic has gained prominence. With businesses slowly reopening in some parts of the world, building managers or facility owners are securing and maintaining fire protection systems.
Fire Alarm Market Restraint
Compromised Quality and Efficiency to Hinder Market Growth
- Fire alarm systems are designed to provide caution against fire, but they do not guarantee warning or protection against fire. Any fire detection system is subject to compromise or failure to warn for a variety of reasons.
- For instance, the particles of smoke from a developing fire may not reach the sensing chambers of the smoke detector, or the amount of smoke present may be insufficient to alarm smoke detectors.
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Fire Alarm Market Competitive Landscape
Global Fire Alarm Market is fragmented with the presence of several big players such as Robert Bosch GmbH, Honeywell International, Inc., Gentex Corporation, Halma plc. Major payers are primarily focusing on the development, innovation, and efficiency of products to provide various benefits related to Fire. Increasing R&D investments is another strategy opting by key players to strengthen their market position.
Fire Alarm Market Top Player’s Company Profiles
- Honeywell International Inc.
- Johnson Controls International plc
- Siemens AG
- United Technologies Corporation (a subsidiary of Raytheon Technologies Corporation)
- Bosch Sicherheitssysteme GmbH
- Halma plc
- Gentex Corporation
- Hochiki Corporation
- Napco Security Technologies, Inc.
- Notifier (a subsidiary of Honeywell International Inc.)
- Nohmi Bosai Ltd.
- Panasonic Corporation
- Potter Electric Signal Company, LLC
- Robert Bosch GmbH
- Securiton AG
- SimplexGrinnell (a subsidiary of Johnson Controls International plc)
- System Sensor (a subsidiary of Honeywell International Inc.)
- Tyco International Ltd. (a subsidiary of Johnson Controls International plc)
- Vigilant Technologies, LLC (a subsidiary of Securitas AG)
- Xtralis Pty Ltd (a subsidiary of Honeywell International Inc.)
Fire Alarm Market Recent Developments
- In May 2021, Det-Tronics, a part of the Carrier Global Corporation, launched the BluEdge service platform, a differentiated service offering for its customers operating at high-hazard petroleum and oil & gas facilities.
- In April 2021, Marioff has signed a contract with Rauma Marine Constructions (RMC) in Rauma, Finland, to deliver HI-FOG high-pressure water mist fire suppression systems to four new Pohjanmaa-class multi-purpose corvettes, part of the Finnish Navy’s Squadron 2020 project.
Fire Alarm Key Market Trends
Global Fire Alarm Market to Witness Increasing Trend of Technologically Advanced Systems
- Consumers are preferring smart modern fire alarm systems to prevent potential fatalities and damages. Also, these alarm systems are more sensitive and effective compared to conventional systems. This consumer positively affected demand for these products, which has further contributed to revenue growth of the fire alarm market.
- Installation of smart fire alarm systems is gaining popularity among consumers. A large number of business-to-business (B2B) and business-to-consumer (B2C) are highly investing and upgrading fire alarm systems enabled with wireless technology and smart devices to protect and manage automated buildings from a mobile application or remote-control panel.
Fire Alarm Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Fire Alarm Market analysis, the market is witnessing a significant growth as users are looking for the latest technology, and the market is seeing growing investment.
For facility owners and managers, one of the most effective ways to enhance overall protection could be through the integration of the fire alarm system with other building systems, such as mass notification systems and security systems. Catering growing needs will provide players with lucrative growth opportunities.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 29.75 billion |
| Market size value in 2031 | USD 59.63 billion |
| Growth Rate | 7.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fire Alarm Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fire Alarm Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fire Alarm Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fire Alarm Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fire Alarm Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fire Alarm Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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