Global Fire Protection Systems Market to Reach $116.1 Billion by 2030
The global market for Fire Protection Systems estimated at US$77.1 Billion in the year 2023, is expected to reach US$116.1 Billion by 2030, growing at a CAGR of 6% over the analysis period 2023-2030. Fire Detection Systems, one of the segments analyzed in the report, is expected to record a 5.5% CAGR and reach US$45.8 Billion by the end of the analysis period. Growth in the Fire Suppression Systems segment is estimated at 6.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $20.5 Billion, While China is Forecast to Grow at 8.8% CAGR
The Fire Protection Systems market in the U.S. is estimated at US$20.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$25.9 Billion by the year 2030 trailing a CAGR of 8.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$16.3 Billion by the year 2030.
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