Fire Alarm Technology Market Trends, Revenue, Major Players, Share Analysis & Forecast Till 2030
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The Fire Alarm Technology market industry reached USD 29.91 billion in 2021, and it is projected to achieve a revenue compound annual growth rate (CAGR) of 7.3% during the forecast period. The increasing occurrences of structural fires in residential and commercial properties are the main drivers of market revenue growth. In 2020, the National Fire Protection Association (NFPA) reported approximately 490,500 structural fires in the U.S., resulting in 2,730 civilian fire deaths and USD 12.1 billion in direct property damage. To address these concerns and ensure the safety of people and properties, a large number of end-users are adopting Fire Alarm Technology systems. The implementation of Fire Alarm Technology systems helps alert individuals and firefighters about potential fire hazards, contributing to the safety of residential and commercial properties.
Electrical distribution systems are globally recognized as one of the leading causes of residential structure fires. Concerns related to electrical short circuits and overloaded currents are increasing the risks of fire and subsequent damages among consumers. Consequently, homeowners and developers are investing significantly in Fire Alarm Technology systems to prevent the potential risks of fire and smoke. According to the Electrical Safety Foundation International (ESFI) in the U.S., home electrical fires account for approximately 51,000 fires each year, causing nearly 500 deaths, over 1,400 injuries, and USD 1.3 billion in property damage. Furthermore, insurance companies may not consider fire damage claims if Fire Alarm Technologys or smoke detectors are absent in the building. Insurance companies adhere to protective safeguard provisions for fire-related damage claims, creating awareness among commercial property owners about the importance of installing Fire Alarm Technology systems. These factors play a significant role in driving the revenue growth of Fire Alarm Technology systems.
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Some Key Highlights From the Report
The manual initiating devices segment is accounted for a larger revenue share in 2021. Manual pull station types are convenient to initiate a Fire Alarm Technology in case of an emergency. This means an individual has to break the glass or plastic covers containing pull station for triggering the alarm button. Two types of pull stations such as single action or dual action Fire Alarm Technology product types are commercially available in the market. Automatic initiating devices automatically activate after detecting heat, smoke, or fire. One of the major advantages of automatic devices is that it quickly senses before it spreads. A large number of builders, developers as well as consumers highly adopt manual pull stations for prevention of fire, these factors are significantly driving revenue growth of the segment.
The addressable system segment is accounted for a larger revenue share in 2021. Addressable system is wired connected through loop system with control panel DIP (Dual In-Line Package) switches. Addressable systems can be connected in a single loop up to 99 devices and wire be extended up to 3.3 km depends on the ability of fire control panel system. These systems are convenient to monitor and fire locations can be easily figured out from connected circuit. Intelligent systems are highly complex and expensive as compared to conventional as well as addressable fire detection systems. These systems are incorporated with accurate sensors and computerized algorithms. Wireless alarm systems are cost friendly due to quick wireless installation without shutting down entire premises. Wireless Fire Alarm Technology systems are remotely interconnected through control panel and central Fire Alarm Technology circuit can be activated through call point radio signal transmission.
Commercial segment accounted for a larger revenue share in 2021. Fire Alarm Technologys are highly adopted in commercial spaces such as office, hospitals, schools, shopping mall and retail stores, hotels and restaurants, and others. According to research, fires in commercial properties cost owners over USD 2.4 billion per year. Commercial property fires such as hotels, restaurants and cafes are caused by food preparation from stoves and ovens. Industrial fires are major segment in generating revenue in the Fire Alarm Technology market. According to, the National Fire Protection Association (NFPA) the U.S., structure fire such as commercial or industrial buildings accounted for 35% in 2020. A large number of industrial fire instances are caused by electrical malfunctions. Fire Alarm Technologys are highly adopted in industrial premises such as factories, manufacturing shop floor warehouses for fire-related emergencies. Home fire instance has been increased over the years. A large number of residential owners are installing Fire Alarm Technologys to prevent fatalities and damages from fire, which is significantly driving revenue growth of the segment.
North America accounted for largest revenue share in the Fire Alarm Technology market in 2021. Increasing instances of fire and fatalities in the region is driving revenue growth of Fire Alarm Technology market. According to the Insurance Information Institute (III), every 89 sec a home fire and property loss occurred and damages accounted for USD 32,430 million in the U.S. These instances are increasingly generating demand for Fire Alarm Technologys. Moreover, stringent regulations and fire prevention regarding installation of Fire Alarm Technologys in public properties such as offices, hospitals, schools, shopping malls, and retail stores are driving revenue growth in the region.
Robert Bosch GmbH, Siemens AG, Honeywell International Inc., Schneider Electric, Eaton Corporation plc, Napco Security Technologies, Inc., Carrier, ABB, Kentec Electronics Ltd., and NITTAN COMPANY, LTD
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The global market is further segmented into type and application:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Manual initiating devices
Automatic initiating devices
Connectivity Outlook (Revenue, USD Billion; 2019-2030)
End-use Outlook (Revenue, USD Billion; 2019-2030)
Detectors Outlook (Revenue, USD Billion; 2019-2030)
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
Overview of the company profiles of each market player
Industrial chain analysis of each player
Revenue share contribution
Sales network and distribution channels and net profits and losses of each company
Key business growth strategies are undertaken by these players
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