U.S. Fire Safety Equipment Market Size, Share & Trends Analysis Report By Solution (Fire Detection, Fire Suppression), By Application (Commercial, Industrial, Residential), And Segment Forecasts, 2023 - 2030

U.S. Fire Safety Equipment Market Size, Share & Trends Analysis Report By Solution (Fire Detection, Fire Suppression), By Application (Commercial, Industrial, Residential), And Segment Forecasts, 2023 - 2030

U.S. Fire Safety Equipment Market Growth & Trends

The U.S. fire safety equipment market size is expected to reach USD 21.09 billion by 2030, growing at a CAGR of 3.5% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. The occurrence of fire incidents in the region, exemplified by the Ghost Ship warehouse fire in Oakland and the Station nightclub fire in West Warwick has resulted in the growing emphasis on the deployment of fire safety solutions in the commercial and industrial spaces which is responsible to fuel the growth of fire safety equipment market.

The construction industry is a primary growth driver for the fire safety equipment market, as new buildings are equipped with fire safety systems to comply with building codes and regulations. The industry has experienced remarkable growth in recent years, driven by infrastructure projects, commercial developments, and residential construction. As construction activity increases, so does the potential for fire incidents. Construction sites, with their presence of flammable materials, electrical wiring, and combustible gases, pose significant fire hazards. This heightened risk necessitates the implementation of robust fire safety measures, resulting in a growing demand for suitable equipment.

However, the U.S. fire safety equipment industry faces intense competition as numerous manufacturers and suppliers strive to gain market share. This intense competition gives rise to price challenges as customers seek cost-effective solutions without compromising on quality and reliability. As a result, manufacturers grapple with the challenge of striking a delicate balance between cost efficiency and maintaining stringent product standards and safety features.

Technological advancements are expected to provide lucrative fire safety equipment market growth opportunities. As technology continues to progress, innovative and efficient fire safety products are being developed, offering enhanced reliability and cost-effectiveness. One notable advancement in the U.S. fire safety equipment market is the emergence of smart fire alarms.

These alarms are equipped with advanced sensors capable of detecting changes in temperature, smoke, and other fire-related indicators. Notably, the U.S. Department of Agriculture (USDA) and the National Institute of Standards and Technology (NIST) have undertaken research and development initiatives to enhance the effectiveness of fire suppression equipment, including sprinklers and fire-retardant materials.

U.S. Fire Safety Equipment Market Report Highlights

• There are two types of fire detection, namely fire alarms and fire detectors. The fire detection segment is expected to register the highest CAGR over the forecast period
• The fire suppression segment is anticipated to grow at a considerable CAGR over the forecast period. Federal, state, and local governments all have regulations and policies in place to help prevent and suppress fires, contributing to the growth of the segment
• The residential segment is expected to register the highest CAGR from 2023 to 2030. Increasing the number of maintenance and retrofitting of older residential and commercial buildings involves installing or upgrading fire safety equipment to meet current codes and standards is anticipated to drive the segment growth
• The major participants are entering into strategic collaborations, M&A, and partnerships to expand their organization’s footprint and survive the competitive environment. For instance, in January 2023, Siemens Building Technologies introduced two new aspirating smoke detectors (ASD), FDA261 and FDA262, catering to especially difficult fire safety installations that span enormous areas, such as substantial data centers, e-commerce warehouses, or industrial production facilities

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