Fire Safety Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Fire Safety Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global fire safety equipment market size reached US$ 51.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 75.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.37% during 2023-2028.

Fire safety equipment refer to devices that provide protection and safety to users in fire accidents. In case of any emergency or a fire, both trained firefighters and unskilled users can use them. Some of the commonly available equipment include fire-resistant gloves, sprinklers, protective gear, smoke alarms, fire blankets, communication instruments, respirators, etc. These equipment are utilized for extinguishing fires, preventing flames from spreading, and helping people escape fires. As a result, they are extensively adopted across homes, manufacturing factories, commercial buildings, hospitals, educational institutes, etc.

Fire Safety Equipment Market Trends:
The rising incidences of fire-related accidents leading to casualties and significant loss of property are primarily driving the global fire safety equipment market. Besides this, the implementation of stringent fire hazard safety regulations by government bodies across various risk-prone industries, such as construction, oil and gas, mining, etc., is also positively influencing the market growth. Additionally, the increasing utilization of safety codes in buildings for occupants is further augmenting the demand for the fire safety equipment. Moreover, the growing adoption of fire safety equipment in passenger and heavy-duty vehicles for ensuring safe evacuation time is propelling the global market. Apart from this, the elevating integration of fire safety systems with advanced technologies, such as IoT, wireless sensors, artificial intelligence, etc., is further catalyzing the market growth. These innovative product variants aid in sending real-time notifications to the fire departments, monitoring ambient temperatures, avoiding false alarms, etc. In the coming years, the emerging popularity of smart buildings coupled with numerous R&D activities to launch fire safety equipment that can withstand fire for a longer duration and produce less smoke while burning will continue to drive the global fire safety equipment market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fire safety equipment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on solution and application.

Breakup by Solution:

Detection
Detectors
Alarms
Suppression
Extinguishers
Sprinklers

Breakup by Application:

Commercial
Industrial
Residential

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Carrier Global Corporation, Eaton Corporation plc, Gentex Corporation, Halma plc, HOCHIKI Corporation, Honeywell International Inc., Johnson Controls International PLC, Napco Security Technologies Inc., Nittan Co. Ltd. (Secom Co. Ltd.), Robert Bosch GmbH, Siemens AG and Space Age Electronics Inc.

Key Questions Answered in This Report

1. What was the size of the global fire safety equipment market in 2022?
2. What is the expected growth rate of the global fire safety equipment market during 2023-2028?
3. What are the key factors driving the global fire safety equipment market?
4. What has been the impact of COVID-19 on the global fire safety equipment market?
5. What is the breakup of the global fire safety equipment market based on solution?
6. What is the breakup of the global fire safety equipment market based on the application?
7. What are the key regions in the global fire safety equipment market?
8. Who are the key players/companies in the global fire safety equipment market?