Fire Protection System Market

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MarketsandMarkets Research Private Ltd.
Presents
Fire Protection System Market worth 95.52
billion by 2025 with a growing CAGR of 7.6

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According to the new market research report,
"Fire Protection System Market by Product (Fire
Detection (Flame, Smoke (Photoelectric,
Ionization, Dual), Heat), Fire Suppression, Fire
Sprinkler (Dry, Wet, Pre-Action, Deluge), Fire
Analysis, Fire Response), Service, Vertical -
Global Forecast to 2025", the fire protection
system market is expected to grow from USD 52.72
billion in 2018 to USD 95.52 billion by 2025, at
a CAGR of 7.6 from 2018 to 2025. Browse gtgt
60 Market data tables
49 figures 167
pages and in-depth TOC on Fire Protection System
Market https//www.marketsandmarkets.com/Marke
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Fire protection systems help prevent fire
accidents and subsequently the damages caused by
them, reduce the impact of uncontrolled fires,
and thus save lives and property. These systems
are used in a wide range of sectors, such as
residential, commercial, manufacturing, oil
gas, and energy power. The growth of the market
is fueled by rise in deaths and loss of property
due to fire breakouts, stringent government
regulations and mandates, and technological
advancements in the construction industry. Based
on product, fire analysis to register fastest
CAGR between 2018 and 2025 Based on product,
fire suppression systems held the largest market
size in 2017. The growth of fire suppression
systems is propelled by technological
advancements and innovations in the construction
industry increasing policies, regulations, and
government mandates and increased damage to
human life and property due to fire breakouts.
However, the market for fire analysis is likely
to grow at the highest CAGR between 2018 and 2025
owing to the increase in fire protection-related
expenditure of various enterprises, rise in
fire-related deaths, and governmental norms. Fire
protection systems demand real-time information
and analysis of the situation to allocate
resources properly for minimal damage. Fire
mapping and analysis software provides an
interactive map display with a real-time system
for decision makers to efficiently and quickly
make decisions during fire-related
situations. Oil gas and mining vertical to
grow at highest CAGR from 2018 to 2025 In 2017,
the oil gas and mining vertical grew at fastest
CAGR in the fire protection system market, and a
similar trend is likely to continue during
20182025. In the oil, gas, and mining vertical,
flammable and combustible materials such as
petroleum, crude oil, flammable gases (such as
butane), and coal are used. These materials are
susceptible to fire therefore, to avoid fire
accidents, advanced fire protection systems are
installed in this vertical. Suitable fire
detection and prevention systems are required in
this sector to avoid accidents. Clean agent fire
suppression systems, dry chemical fire
suppression systems, and water and foam
sprinklers are mainly used in the mining sector.
Gas-based suppression systems (CO2, FM200, Novec,
and Inert) and sprinkler systems are used in the
oil gas sector.
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Based on service, maintenance services are
likely to register fastest CAGR between 2018 and
2025 Fire protection systems are useful only if
they are properly engineered, designed,
installed, managed, and maintained. Fire
protection systems require regular servicing to
run at optimum performance and effectively
control fire. Maintenance includes timely
servicing and auditing of fire protection systems
to ensure these systems meet all required fire
safety standards and ensure their appropriate
functioning at the time of emergency. Maintenance
services held the largest size of the fire
protection system market and likely to dominate
the market with highest growth among other
services such as engineering, installation
design, managed, and tenancy and refurbishment
upgrade services Asia Pacific to register
highest CAGR from 2018 to 2025 In 2017, North
America held the largest size of the overall fire
protection system market. The increased awareness
of fire safety systems and government fire safety
regulations are the 2 significant factors that
drive the market in North America. However, the
market in Asia Pacific region is expected to grow
at the highest CAGR from 2018 to 2025. Growing
urbanization in Asia Pacific has increased
construction activities, contributing
significantly to the highest growth of the fire
protection system market. Governments in this
region have laid down fire safety norms, and the
fire protection system market is expected to grow
with the execution of these policies. China Fire
Protection Association, Fire and Security
Association of India (FSAI), and Japan Fire
Retardant Association (JFRA) have developed fire
safety norms. Key players in the fire protection
system market are Johnson Controls (Ireland),
United Technologies (UTC, US), Honeywell (US),
Siemens, (Germany), Halma (UK), Robert Bosch
(Germany), Hochiki (Japan), Minimax Viking
(Germany), Gentex (US), and Securiton AG
(Switzerland).
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