Johnson Controls (Ireland) and Honeywell (US) are Leading Players in the Fire Protection System Market
Fire protection systems are a set of connected devices or systems that are used to prevent fire accidents. These systems also reduce the impact of uncontrolled fires, thus saving lives and property. Fire protection systems comprise fire detection, fire suppression, fire sprinkler, fire analysis, and fire response systems that are required in emergencies.
The market growth is mainly attributed to the growth of the construction industry, the increase in the loss of human lives and property due to fire breakouts, stringent regulatory compliances, and a rise in the adoption of wireless technology in fire detection systems. The global fire protection system market size is expected to reach USD 95.4 billion by 2025 from USD 67.7 billion in 2020, growing at a CAGR of 7.1%. Johnson Controls (Ireland), United Technologies (US), and Honeywell (US) are the leading players of the fire protection system market.
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Johnson Controls has recently started concentrating on its core business by acquiring nonprofit companies. This has helped the company grow its revenue and expand its 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. The fire detection and alarm systems provided 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 was acquired by Johnson Controls to form Johnson Controls (US) after the spin-off of the automotive seating company Adient plc (Ireland). After the merger, Johnson Controls became a leading provider of building and energy storage solutions and services.
Carrier, operating subsidiary of United Technologies, has been offering a broad portfolio of fire protection products for various applications. It focuses on enhancing its technology business through product launches, partnerships, and acquisitions. The company aims to improve its production of fire suppression and detection solutions. It has a research and design center in India and has 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 one of the leaders in the fire protection market with strong international recognition. Key factors contributing to its market leadership include a well-positioned product portfolio, strong brand name internationally, customer retention, and global presence. Honeywell takes advantage of its ability to leverage collaborations across diverse operations in home and building automation solutions, especially in the fire and security segment. For instance, the company is collaborating with Huawei Technologies (China) to develop smart building offerings using IoT to improve the building intelligence by providing functions such as access control, intrusion monitoring, and fire detection. Honeywell also focuses on various strategic acquisitions to become the premier technology and manufacturing company with a better-positioned portfolio. For instance, in 2017, the company acquired Scame Sistemi, a global provider of fire and gas safety systems. The acquisition is expected to strengthen its product portfolio for the Home and Building Technologies segment.
Related Reports:
Fire Protection System Market by Product (Fire Suspension, Fire Sprinkler, Fire Analysis, Fire Response, Fire Detection), Service (Engineering, Installation and Design, Maintenance, Managed), Vertical, and Region - Global Forecast to 2025
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