Fire Alarm and Detection Market

Global Fire Alarm and Detection Market Outlook (2022-2032)

The fire alarm and detection market has garnered a market value of US$ 29.68 Bn in 2022, anticipated to register a positive CAGR of 6% in the forecast period 2022-2032 and reach a value of US$ 53.15 Bn.

Report Attributes	Details
Fire Alarm and Detection Market Size (2022)	US$ 29.68 Bn
Expected Market Valued for Fire Alarm and Detection (2032)	US$ 53.15 Bn
Global Market Growth Rate (2022 to 2032)	6% CAGR
Key Companies Profiled	Johnson Controls International Plc. Honeywell International Inc. Napco Security Technologies Inc. Nittan Co. Ltd. Siemens AG Halma Plc. United Technologies Corp. Robert Bosch GmbH Eaton Corporation

Demand Analysis of Fire Alarm and Detection Market 2015-2021 Vs Future Outlook 2022-2032

From 2015 to 2021, the global fire alarm and detection market registered significant gains, reaching a valuation of US$ 28 Bn in 2021. Throughout the historical period, demand for fire alarm and detection systems registered a CAGR of 6.3%. Mounting concerns regarding fire safety across various industries has led to increased deployment of fire alarm and detection systems in the past few years.

The market is gaining prominence, more so amid the COVID-19 pandemic that hit the world economy in 2020, with businesses shifting to remote working models. The demand for residential fire safety witnessed a rise, with people spending extended hours working from home.

The global demand continues to witness growth over the next seven years. While the pandemic created a few lucrative opportunities for the Original Equipment Manufacturers (OEMs), awareness about the safety and security of assets in the commercial sector also increased. Considering these factors, the market is projected to witness high growth over the coming years, registering a CAGR of 6% to top US$ 53.15 Bn by 2032.

What is driving Market Demand for Fire Alarm and Detection Systems?

Revised Fire Safety Standards to avoid Catastrophes Driving Demand

The demand for advanced fire safety systems in fire-prone industrial settings, such as automotive, power & utility, mining, petrochemical, and oil & gas exploration, will drive the market growth over the next seven years.

Fire safety amidst the newly minted work-from-home model in light of the COVID-19 pandemic has gained prominence. With businesses slowly reopening in some parts of the world, building managers or facility owners are securing and maintaining fire protection systems.

The reassessment of fire safety requirements will create growth opportunities for market players over the coming years. The need for fire safety solutions surged marginally in 2021. However, due to supply chain disruptions, vendors in this space witnessed minor hiccups in receiving and fulfilling orders.

Increased Emphasis on Residential Grade Fire Safety amid the COVID-19 Pandemic

Given the current scenario, the demand for cooking fire safety, electrical fire safety, and heater fire safety will gain traction over the next few years. The global market will most likely reach pre-COVID levels by the end of 2022. The market is already on its path to recovery with a minor setback caused by supply chain disruptions.

However, as businesses reopen, the importance of fire safety is likely to take center stage and will drive product sales over the next few years. In addition, the pandemic-induced work-from-home model will also contribute to industry recovery as fire safety gains prominence with individuals spending considerable time working from home.

Prospects to Appear Optimistic across the Commercial Construction Industry

As the industry continues to witness a modest upsurge led by the pandemic, a recovery in construction-related projects, both new and redevelopment, will also generate lucrative market conditions for the fire safety OEMs.

Fire detection & alarm is are integral elements of any building project enabling safety across several structures. Hence, a rise in the number of construction-related projects will come as a respite for the industry’s growth. In addition, advancements in technology enabling wireless products with improvements in response time will also pave the way for future growth.

Region-wise Analysis

How is Europe Propelling the Demand for Fire Alarm and Detection?

Implementation of Fire Safety Norms at National and State-Level

Europe regional authorities are focusing on implementing fire safety norms with national or state-defined goals. A CAGR of 7.4% is anticipated for the European market for fire alarm and detection by Fact.MR from 2022 to 2032.

For instance, in Germany, Firefighters’ associations are undertaking projects to increase the installations of fire alarms and smoke detectors in residential areas. There have been instances of fire brigades conducting campaigns providing information on the installation of fire safety equipment. All such initiatives across several countries in Europe are contributing to the regional market growth.

What Drives the Demand for Fire Alarm and Detection in Asia Pacific Countries?

Extensive Awareness Campaigns by Public Fire Safety Associations bolstering prospects

Asia Pacific is estimated to emerge as the fastest-growing regional market over the forecast years. The region, with investments focused on infrastructure development, is creating growth opportunities for fire safety vendors. The regional demand stems from the developments in countries like India, China, Japan, and other Southeast Asian countries.

The aggressive campaigns being carried out by various public safety associations and prominent manufacturers of fire safety equipment and subsequently, the growing awareness among the end-users to ensure fire safety is expected to drive the growth across the region. According to Fact.MR, Asia Pacific is expected to accumulate around 45% revenue share.

For instance, in India, several state governments mandate fire safety & security in commercial establishments. Therefore, the market growth is directly proportional to the growth of the commercial construction sector. With work-from-home being the new norm, the importance of fire safety solutions has increased in the residential sector. A rise in fire accidents across various regions is contributing to the growth of this segment.

Category-wise Insights

Which Product Type Leads the Market?

Fire Detectors to remain Top Selling Product, Fire Alarms Sales to Sure Impressively

The fire detectors product segment accounts for the highest revenue share of more than 50%. Fire detectors have applications in detecting leaks, such as gas, that could result in a fire accident. Regulations in several countries that encourage the adoption of fire detectors are is the key factor favoring product sales, a trend expected to continue till 2030.

On the other hand, the fire alarms segment is expected to register the fastest CAGR exceeding 7.3% from 2022 to 2032. Fire regulations will continue to play a vital role in boosting the product demand.

Which Fire Detector and Alarm Type Turns Out Highly Lucrative?

Heat Detectors to Remain Highly Sought After

Fire detectors are further categorized into heat, smoke, and flame detectors. Heat detectors will witness the fastest CAGR exceeding 8% over the forecast period. Heat detectors are a preferred choice where the ambient temperature is high or for areas with rapid temperature changes. These areas could include garages, mechanical rooms, storage facilities, and commercial kitchens, among others.

The smoke detectors segment accounts for a revenue share of more than 45%. Smoke detectors are often used in areas to detect smoldering slow fire, such as residential apartments or commercial facilities. Advancements in technology have led to the development of intelligent or smart smoke detectors and will play a vital role in boosting product sales. Furthermore, the introduction of innovative products with a longer life span and better cost-efficiency has helped keep the segment demand afloat for the last few years.

Which Application Area is projected to Gain Traction in the Market?

Demand to be Highest across the Commercial Segment

Fire alarm & detection systems are an integral part of industrial, commercial, and residential areas. The commercial segment captured the highest revenue share of more than 44% in 2022 and is estimated to maintain its leading position throughout the forecast period. 

Competitive Landscape

The competitive landscape of the fire alarm and detection market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.

• In October 2020, Honeywell launched the first tools from its new suite of Connected Life Safety Services (CLSS), its first all-in-one cloud platform for fire safety systems.
• Honeywell's CLSS suite of tools, built on the Honeywell Forge platform, enables fire technicians to minimize disruption, prove compliance and reduce the time needed for design, installation, commissioning, inspection, maintenance, and reporting of life safety systems.

Fire Alarm and Detection Market Report Scope

Report Attributes	Details
Forecast Period	2022-2032
Historical Data Available for	2015-2021
Market Analysis	US$ Mn for Value
Key Regions Covered	North America Latin America Europe Asia Pacific MEA
Key Countries Covered	U.S. Canada Germany U.K. France Italy BENELUX Nordics China Japan South Korea Brazil Mexico GCC South Africa Turkey
Key Market Segments Covered	Product Type Fire Detector Type Application Region

Key Market Segments in Fire Alarm and Detection Industry Research

• By Product

  • Fire Detectors
  • Fire Alarms

• By Type

  • Flame Detectors
  • Smoke Detectors
  • Heat Detectors

• By Fire Alarms Type

  • Audible Alarms
  • Visual Alarms
  • Manual Call-points

• By Application

  • Commercial
  • Industrial 
  • Residential