The global fire protection system market size is expected to grow from USD 66.8 billion in 2022 to USD 92.1 billion by 2027, at a CAGR of 6.6% from 2022 to 2027. The global fire protection system market exhibits lucrative growth potential. The markets growth is fueled by growing demand of these systems to reduce loss of human lives and property due to fire breakouts, stringent regulations, and growth in the construction industry. Some of the major companies operating in the fire protection system market are Johnson Controls (Ireland), Carrier Global Corporation (US), Honeywell International Inc. (US), Siemens (Germany), Robert Bosch GmbH (Germany), Halma plc (UK), Hochiki Co., Ltd. (Japan), Gentex Corporation (US), Eaton Corporation plc (US), and Teledyne Technologies Incorporated (US).
As of 2021, Johnson Controls (Ireland), Carrier Global Corporation (US), Honeywell International Inc. (US), Siemens (Germany), and Robert Bosch GmbH (Germany) were among the major five players in the global fire protection system market. These companies strengthen their market position by developing innovative products and acquiring small players.
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Johnson Controls offers diversified technology-based products and operates through four business segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. The Building Solutions segment designs, manufactures, markets, and installs integrated Heating, Ventilation, and Air Conditioning (HVAC) systems; building management systems; controls; fire detection systems; fire suppression solutions; and mechanical equipment. The company has a presence in more than 150 countries across the Americas, EMEA, and the Asia Pacific.
Carrier Global Corporation provides healthy, safe, and sustainable building and cold chain solutions. The company’s portfolio includes industry-leading brands, such as Carrier, Kidde, Edwards, LenelS2, Carrier Transicold, and Automated Logic, offering three major segments: HVAC, refrigeration, and fire & security. The products under fire & security cater to a wide range of applications in residential, commercial, industrial, and transportation facilities. The segment provides fire suppression systems, fire detection and alarm systems, and passive fire protection equipment for industrial, commercial, and residential areas. The company also offers monitoring and response services under this segment.
Honeywell International Inc. is a diversified technology and manufacturing company that serves customers worldwide. It is a prominent company in the fire protection market. The company operates through four business segments: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies (PMT), and Safety and Productivity Solutions. Honeywell Building Technologies include fire detection, video surveillance, access control, and others. Honeywell develops, manufactures, and sells fire protection systems through its Honeywell Building Technologies segment. The fire and security portfolio of the company includes fire detection and alarm systems and fire responders.
Robert Bosch GmbH develops and markets products and services related to automotive, industrial, consumer goods, energy, and building markets worldwide. The company operates through Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology business segments. Its Energy and Building Technology segment provides products, services, and solutions related to fire and security, air conditioning, and heating. The company offers a broad range of fire detection and alarm systems, including wired and wireless solutions. Its smart home system solutions provide users with a single platform, on a smartphone or a tablet, to interconnect their heating, lighting, smoke alarms, and other home appliances.
Siemens manufactures products for power generation, power transmission, automation, and medical diagnosis. It operated through Digital Industries, Siemens Healthineers, Smart Infrastructure, Mobility, Portfolio Companies, and Siemens Financial Services (SFS) segments during FY 2020. The Smart Infrastructure segment provides automation technologies and digital services for the safety and security of buildings. The segment offers products, solutions, services, and software for fire safety, security, building automation, heating, ventilation, air conditioning, and energy management. The fire safety segment offers services pertaining to fire detection, fast alarming, and intelligent fire extinguishing, catering to a wide range of commercial and industrial applications.
Related Reports:
Fire Protection System Market by Product (Fire Suppression, Fire Detection, Fire Sprinkler, Fire Analysis, Fire Response), Services (Engineering, Installation and Design, Managed, Maintenance) and Region - Global Forecast to 2027
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