Fire Protection System Market

Key strategies implemented by Key players in the Fire Protection System Market

The fire protection system market is estimated to be USD 57.33 billion in 2018 and reach USD 88.94 billion in 2024, growing at a CAGR of 7.6% from 2018 to 2024. The market is highly competitive owing to the presence of several big and small market players. Key strategies implemented by most companies in the fire protection system market are product launches and developments, expansions, acquisitions, agreements, contracts, collaborations, and mergers.

As of 2017, Johnson Controls, United Technologies, Honeywell, Siemens, and Halma were the significant players in the fire protection system market. These companies operate globally and have a wide portfolio of fire protection systems. They mainly rely on their R&D capabilities and balanced product portfolios to gain a large share of the market.

Johnson Controls is a significant player in the fire protection system market. The company recently started concentrating on its core business by acquiring nonprofit companies. This helped the company grow its revenue and expand presence in emerging markets, including India, China, and some countries in the Middle East and Latin America. Johnson Controls offers fire detection and alarm systems, and fire response systems. Fire detection and alarm systems offered by the company are fire alarm panels and fire alarm peripheral devices such as detectors, sounders, and manual call points. Fire response systems include mass notification devices. The company has a business unit committed to developing and providing quality products, services, and solutions related to fire protection safety and security. As a leading innovative firm, the company is focused on delivering value to shareholders and meeting the needs of its customers. Tyco and Johnson Controls merged to form Johnson Controls (US) after the spin-off of automotive seating company Adient plc (Ireland). After the merger, Johnson Controls became a leading provider of building and energy storage solutions and services with estimated revenue of ~USD 30 billion in the financial year 2017.

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UTC Climate, Controls & Security offers a broad portfolio of fire protection products for various applications. The company follows an organized approach toward fire security. It focuses on enhancing its technology business through product launches, partnerships, and acquisitions. For instance, in August 2016, the company launched linear heat detectors that are suitable for use in hazardous environments. Furthermore, in July 2015, Chubb Edwards (Canada), a subsidiary of UTC Climate, Controls & Security, acquired Fahrenheit 451 (Canada), a fire safety solution provider, to fortify its presence in the country. The company aims to enhance its production of fire suppression and detection solutions. In 2016, the company opened a research and design center in India. It has also opened a center of excellence in France. These R&D centers focus on the development of new products to strengthen their customer base.

Honeywell is also one of the important players in the fire protection system market. It is a diversified technology and manufacturing company, serving customers worldwide. It is one of the prominent companies in the fire protection system market, which develops aerospace products, turbochargers, control technologies, specialty chemicals, sensing and security technologies, electronic materials, and others. The company operates in 4 business segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies (PMT), and Safety and Productivity Solutions. Honeywell is one of the key vendors of fire protection systems. The company develops, manufactures, and sells fire protection systems through its Home and Building Technologies segment. The fire and security portfolio of the company includes fire detection and alarm systems, and fire responders. It provides alarms, control panels, and mass notification devices for various applications. The company is prominent in designing wireless fire alarms. The company entered the wireless segment with the launch of a wireless fire detection system by its subsidiary Gent (UK). In 2014, the company launched a commercial wireless fire alarm solution called Notifier. The company also offers fire control panels; emergency responders; fire alarm peripheral devices such as detectors, sounders, and manual call points; and visual alarm devices.

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Report Code
SE 3049
Published ON
Oct, 2018
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