To improve the website's functionality, we use cookies, including third-party cookies. Read our Privacy Policy for more information
I AgreeAnalysis of Fire Testing market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The fire testing market is predicted to grow at a fair CAGR of 5.9% during the projected period of 2022 to 2032. The fire testing market share is estimated to be worth more than US$ 13 Bn by 2032, increasing from US$ 7.1 Bn in 2022.
Attributes |
Details |
---|---|
Fire Testing Market Size (2021) |
US$ 7 Bn |
Fire Testing Market Value (2022) |
US$ 7.1 Bn |
Fire Testing Market Value (2032) |
US$ 13 Bn |
Fire Testing Market Growth Rate (2022-2032) |
5.9% |
Fire Testing Market Key Players |
|
The demand for fire testing is expected to rise in industries like utilities, automotive, manufacturing, energy and power, petrochemical, oil and gas exploration, mining, and construction.
Several developed and growing regions, including Europe, North America, and Asia-Pacific, have enacted strict legislation requiring the adoption of fire testing systems in residential, industrial, and commercial buildings.
These factors combined are boosting the fire testing market growth.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
According to the new market research report on fire testing market by Fact.MR, the fire testing market growth, is predicted to rise at gradual pace from 2022 to 2032.
During the previous analysis period of 2015 to 2021, the fire testing market share witnessed a net worth of US$ 7 Bn in 2021, with a high year-on-year growth rate of 6.9%.
In the first quarters of 2020, the COVID-19 pandemic had a negative impact on the fire testing market size. As a result, the installation of new fire testing equipment in industrial and commercial applications decreased.
In the future years, however, the overall adoption of fire testing system is likely to be fuelled by higher spending on new construction activities and the replacement of outmoded fire alarms, sprinklers, and detectors.
“The adoption of safety measures in industries and the expanding automation in buildings throughout the globe are two important reasons driving the growth of fire testing market share.”
Valve manufacturers and end-users are becoming increasingly interested in fire-safe testing, which is driving the adoption of fire testing systems. This is mostly due to a growing emphasis on safety and the environment.
Furthermore, increasingly strict safety and environmental requirements impact the demand for fire testing systems.
The rise in deaths and property losses has raised awareness of fire safety systems, propelling the fire testing market share forward.
The installation of fire safety systems is gaining popularity in nations with minimal infrastructure development investments. The primary causes of fire outbreaks were improper handling of burning lamps and cooking gas leakage, alternating voltage, electric spark, and overheating of electronic equipment.
Government mandates and regulations and the presence of some of the largest fire protection companies are pushing the fire testing market share.
The demand for fire testing systems has been pushed by implementing unified building codes or fire testing standards in many established and emerging countries across all end-user segments, as mandated by local authorities.
For example, the United Kingdom's government advises that all fire alarm and detection systems be installed and maintained in accordance with British Standard BS 5839.
The European Norm, the National Fire Protection Act, and a slew of other municipal rules, as well as listings, building codes, and certifications from nationally recognised testing labs, have all mandated that infrastructures be equipped with suitable fire suppression and detection systems.
In addition, insurance firms offer incentives to infrastructure owners who install such technology, which is projected to boost the fire safety testing market share even further.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
“High installation and maintenance costs of fire testing equipment and systems is anticipated to be the major limiting factor for future fire testing market trends.”
In the first quarters of 2020, the COVID-19 pandemic had a negative impact on the fire testing market size. As a result, the installation of new fire testing equipment in industrial and commercial applications has decreased.
In the future years, however, the overall adoption of fire testing system is likely to be fuelled by higher spending on new construction activities and the replacement of outmoded fire alarms, sprinklers, and detectors.
Furthermore, the fire testing market growth is anticipated to be restrained by high installation and maintenance costs. The cost of fire testing systems varies depending on the building's lifespan, size, use, and kind.
In general, installing fire alarm systems in older buildings is more expensive than installing them in newer buildings. These are some of the major challenges faced by fire system testing companies or fire sprinkler testing companies during the forecast period.
In 2021, the U.S. dominated the market, with a CAGR of 5.7% and market value of US$ 4.5 Bn. The fast rise of commercial and industrial construction in the United States and Canada contributed greatly to the growth of fire testing market share.
Regional growth is being fueled by strict fire safety requirements and standards. For example, in the United States, the Fire Code, a model code, is accepted by local and state governments and implemented by municipal fire departments' fire prevention officers.
Regional fire testing market growth is also being fuelled by rising worries about fire safety and security, as well as the rapid adoption of innovative technologies.
Asia Pacific holds the highest growth potential with a CAGR of 6.2% in the global fire testing industry. Rapid industrialization and urbanisation in developing countries such as China and India are driving the growth of fire testing market size.
These countries' broad industrialization has attracted massive investments in the transportation, infrastructure, and energy sectors. This has resulted in lucrative growth opportunities for the fire testing market expansion.
Furthermore, the European region accounts for a sizable portion of the global fire testing industry. Government rules governing fire safety and testing in Europe are projected to boost fire testing market expansion in this region.
The national government determines the fire regulations in most European countries. It is the responsibility of the federal states of Germany. Musterbauordnung — a national model building code – is frequently used by them.
As a result, the fire testing industry in Europe is growing due to tight government regulations in both the commercial and residential sectors.
In the approaching years, countries such as Germany, Belgium, and the United Kingdom are projected to have strong potential demand for fire testing market.
Furthermore, India's growing urbanisation is likely to increase infrastructure expenditure in key areas such as transportation, textiles, water and wastewater treatment, power, and so on. As a result of this, the adoption of fire testing is anticipated to rise.
Raymond, for example, invested roughly USD 14 billion in India to build a new textile park with eight big textile operations.
The demand for fire testing systems in China's industries and manufacturing factories have grown significantly. Due to increased investments and spending on the creation of surveillance infrastructure, the fire testing market in China is expected to register a CAGR of 5.3% through 2032.
As a result of the fire at Notre Dame Cathedral in central Paris, France, the Chinese government has pledged to increase firefighting procedures in order to promote the preservation of cultural relics.
In 2019, the National Cultural Cultural Administration (NCHA) reported six fires at heritage sites. The Chinese government is mobilising firemen and putting in place fire protection measures to prevent similar fires at other cultural sites.
Furthermore, Japan fire testing market is also anticipated to grow significantly at a CAGR of 4.3% through 2032.
“Rising adoption of smart City trends along with increased investments in the research and development activities likely to impact the fire testing market outlook during 2022-2032.”
Due to the growing demand for certification services in numerous sectors around the world, the certification segment is likely to dominate the fire testing market.
In terms of fire testing, certification criteria varies from area to region for various industrial sectors. It also aids in meeting and demonstrating compliance with relevant norms and legislation.
Over the projected period, the outsourced segment is expected to increase at the rate of 6.3 percent. This is primarily due to the outsourcing of fire testing, which saves money and time as compared to in-house fire testing, which is more expensive and takes longer.
Over the forecast period, construction and infrastructure are expected to hold the biggest share in the global fire testing market among the other segments including consumer goods, with a CAGR of 5.8% through 2032.
The growing need for fire testing services in fire protection and control equipment, as well as fire detection and notification systems, is propelling the construction and infrastructure fire testing market.
Don't Need a Global Report?
Save 40% on Country & Region specific reports
Due to the presence of electrical product manufacturers and international fire consultants, the fire testing market is fragmented since the intensity of competitive rivalry in the market is moderate and expanding.
Companies operating in the market engage in active innovation by supplying advanced fire testing systems in order to obtain a competitive market share. Intertek, TUV SUD, SGS Group, Bureau Veritas SA, UL LLC, and others are key players in fire testing market.
What are the Recent Developments that Boost Fire Testing Market?
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunities
Buy NowGet A Special pricing for start-ups and universities
Enquiry Before Buying- Humble, Yet Honored -
- Related Reports -
The fire testing market is estimated to record a CAGR of 5.9% through 2032.
The global fire testing market is predicted to be valued at US$ 13 Billion by 2032.
The global fire testing market was valued at US$ 7 Billion in 2021.
The U.S. is anticipated to hold the largest revenue share during the forecast period.
Asia Pacific is predicted to witness the highest CAGR of 6.2% through 2032.