The increasing risk of accidents related to fire is inducing the demand for fire protection systems market globally. The continuous advancements in the technology of fire protection systems is responsible for the continuous increment in the value of these systems and is resulting in the growth of global fire protection systems market. The manufacturers are making large investments on research and development activities, and are offering advanced and proficient fire protection products to the customers.
The well assimilation of fire protection products offers reliable fire protection systems. Also, the rising popularity of automated fire protection systems is contributing to the global fire protection systems market growth. The automated FPS offers the quick fire detection and pre-programmed responding that results in minimizing of fire damage risk.
Fire Protection Systems Market: Drivers & Restraints
The global fire protection systems market is expected to grow due to several factors such as increasing government mandates and political support regarding the installation of fire protection systems in infrastructure which has resulted in the upsurge of FPS market demand globally. Increasing technological advancements in the equipment is also one of the major factors driving the growth of this lucrative market.
The global fire protection systems market growth will also be supported by the bigger fire protection expenditure from the enterprises that is expected to positively influence the demand of fire protection systems in the near future.
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On the other hand, higher capital investments for the fire protection systems’ installation are restrictive to the growth of fire protection systems globally.
Fire Protection Systems Market: Segmentation
By technology, the global fire protection systems is segmented as follows:
By End Use, the global fire protection systems market is segmented as follows:
- Educational Institutions
- Banking , Financial Services and Insurance (BFSI)
- Consumer Goods and Retail
- Energy and Power
- Oil and Gas
- Transportation and Logistics
- Others (Telecom & IT, Public Utilities and Media)
By product type, the global fire protection systems market is segmented as follows:
Fire Protection Systems Market: Region-wise Outlook
The fire protection systems market is expected to register a favourable growth for the forecast period, 2015?2025. The European market is projected to endure control on the global fire protection systems market due huge demand of end user industries. Some of the other fastest growing regions in global fire protection systems market are Asian Pacific, Latin America, Middle East and Africa. The North America and Western Europe are expected to register a moderate growth rate owing to the saturation of end use markets in the regions. The Eastern Europe is expected to depict a high growth in the future ahead.
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Fire Protection Systems Market: Key Players
The key players in the global fire protection systems market are Gentex Corporation, Hochiki Corporation, Halma PLC, Johnson Controls, Honeywell International Inc., United Technologies Corporation, Robert Bosch GmbH, Siemens AG, Tyco, , VT MAK.