Leading Fire Safety Equipment Application Markets Databank

Leading Fire Safety Equipment Application Markets Databank

The Fire Safety Equipment market was valued at $46,390.0 Million in 2020, and is projected to reach $88,604.5 Million by 2029 growing at a CAGR of 7.50% from 2021 to 2029. Industrial segment is expected to be the highest contributor to this market, with $21,537.0 Million in 2020, and is anticipated to reach $41,005.0 Million by 2029, registering a CAGR of 7.46%. Residential segment is anticipated to reach $19,425.3 Million by 2029 with the highest CAGR of 7.61%. Industrial and Commercial segments collectively expected to account for about 78.3% share of the Fire Safety Equipment market in 2020, with the former constituting around 46.4% share. Residential and Commercial segments are expected to witness significant growth rates at a CAGR of 7.61% and 7.49% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 53.6% in the overall Fire Safety Equipment market in 2020, and is anticipated to reach 53.7% by 2029.