Grand View Research forecast for 2020—2027
The global market for fire protection systems was valued at $91.5 billion in 2019. According to Grand View Research report, the compound annual growth rate (CAGR) from 2020 to 2027 will be 7.5%.
Demand for fire protection systems is expected to grow as markets recover from the COVID-19 pandemic. In addition, among the drivers of stable market growth, experts note the diversity of fire protection programs, which allowed the introduction of modern systems not only in large enterprises, but also in small and medium-sized.
What else will affect the market growth:
- the need to comply with regulations and meet approved standards;
- high end-user awareness of innovative fire protection solutions;
- reducing the cost of intelligent systems through the proactive deployment of wireless solutions;
- development of integrated systems incorporating public address and general alarm (PAGA) systems, equipment for identifying the exact location of a fire, etc.
North America has dominated the market so far, accounting for more than 35% of global revenue in 2019. The same situation will persist in the coming years. However, the development of the construction sector in India and China will drive the security and fire alarm systems market in these countries. Demand is also expected to grow in Japan, one of the first countries that has introduced innovative security systems. After 15 to 20 years, they will need to be replaced, which will cause an increase in demand for security and fire alarm systems.
The deployment of security and fire alarm systems at commercial facilities is leading the market. In 2019, this segment accounted for more than 45% of global revenue. This demand will remain, but the industrial application segment will also grow: the forecast for the average annual growth rate from 2020 to 2027 is 8.7%. Also, by greatly simplifying the systems and their components, the number of innovative fire protection systems in the private sector will increase.
The market leader is the fire detection product segment. In 2019, this segment accounted for more than 40% of global revenue. The average annual growth rate of the segment from 2020 to 2027 will be 9.9%. Grand View Research analysts also expect growth in the firefighting segment.
Grand View Research experts consider Johnson Controls, Honeywell International, Raytheon Technologies Corporation, Gentex Corporation, Siemens, Robert Bosch, Halma, and Eaton to be the key players in the security and fire alarm systems market.
Fire Protection section at Securika Moscow 2022
One of the six sections of the exhibition, the oldest one, is devoted to fire protection systems. Visitor interest in this section remains consistently high. There were 5,716 targeted visitors (35%) interested in firefighting products and systems at the 2021 exhibition. 7,739 people (47% of visitors) were interested in fire alarms in 2021.
At Securika Moscow, companies present their new products in the following areas: fire extinguishing systems, fire alarm systems, fire fighting equipment, fire-resistant / fire-extinguishing agents and mixtures.
Among the section's exhibitors: GK Pozhtekhnika, OSK Group, Plazma-T, Ervist, Ogneborets, Gefest, Epotos, Etalon, Fire Automation, MSS, Wagner, Flamax, Minimax Russia and many others.
Becoming an exponent of Securika Moscow 2022, you have the chance to boost your sales of technical security and fire protection means and equipment , as well as to present your product portfolio and the latest technology to a wide range of specialists in the security systems market.