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The global fire detection and suppression equipment market is expected to grow at a CAGR of over 5% during the period 2018?2024NEW YORK, Nov. 18, 2019 /PRNewswire/ -- The global fire detection and suppression equipment market is expected to grow at a CAGR of over 5% during the period 2018?2024. Read the full report: https://www.reportlinker.com/p05827565/?utm_source=PRN The market growth can be attributed to stringent safety regulations adopted by government agencies world over. The market witnessed high growth in the APAC region in 2018. While Europe dominates the global fire detection and suppression equipment market, the increased awareness related to safety is fueling market growth in developing economies. Market Segmentation by Fire Detection • Control Panels • Fire Detectors • Alarms • Manual Call Points • Video Smoke Detector Software Market Segmentation by Fire Suppression • Portable Fire Extinguishers • Sprinkler Heads • Water Mist Systems • Gaseous Suppression Market Segmentation by End-users • Commercial • Industrial • Residential Fire Detection and Suppression Equipment Market: Geography Standardization and stringency of safety regulations worldwide is directly influencing the fire detection and suppression equipment market. Economic situations and the increasing penetration of IoT in the equipment are other factors affecting market growth. Increasing demand for photoelectric detectors, the growing popularity of hardwired with battery type smoke detectors, and the increasing need for asset protection are playing an important role in fueling the demand for the safety equipment. Europe is the largest market and the region is known for its stringent safety regulations, including fire prevention. The combination of strict safety regulations with construction activities paves a growth path for the smoke detector market in Europe. Germany, France, and the UK are the market leaders in Europe. North America is the second-largest market. The US and Canada are the major revenue contributors to the market as there is a surge in the adoption of safety equipment due to increased compliance of fire safety norms. Moreover, the rapid adoption of photoelectric and dual smoke detectors is expected to influence the market during the forecast period positively. Market Segmentation by Geography • Europe o Germany o France o Italy o UK o Spain • APAC o China o Japan o India o Australia o South Korea • North America o US o Canada • Latin America o Mexico o Brazil • MEA o Saudi Arabia o South Africa o UAE Key Vendor Analysis Strict regulations and increased fire code compliance are increasing the installation of fire detectors and suppressors. The market is a fragmented one due to the presence of a few global market leaders. Bosch, UTC, Siemens, Honeywell, and Johnson Controls dominate the market. Bosch is considered to be a forerunner in innovation and technology. The company's implementation of IoT-based remote diagnostics is a benchmark for its market followers. The invention of the Bi-Directional Amplifier, which is used to reduce the response times in an emergency, is expected to revolutionize the market. The market is generally based on the red ocean strategy, where there is a fierce competition between existing manufacturers. Competitors are adopting expansion strategies, using intense distribution channels, implementing new price structures, developing new products to increase their competitive edge in the market. Key Vendors • Johnson Controls • Honeywell International • United Technologies • Siemens • Schneider Electric • Bosch Other Prominent Vendors • Samsung Electronics • Roost • Huawei • BRK Brands • AMP Security • Birdi • Leeo • Netatmo • Telus • Vivint • Alder • ADT • Konig • Xfinity (Comcast) • Yale • AS Valnes • Eve Systems • Mircom • Gentex • SECOM • Emerson Electric • Senju Sprinkler • Viking Group • Smith-Cooper International • Erico (Nvent) • Reliable Automatic Sprinkler • Globe Fire Sprinkler • Uponor • Plumis • HD Fire Protect • MÜPRO • Lubrizol • Fireline Sprinkler • Todd Morris Fire Protection Key Market Insights The report provides the following insights into the fire detection and suppression equipment market for the forecast period 2019–2024. • Offers market sizing and growth prospects of the air conditioner market for the forecast period 2019–2024. • Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the fire detection and suppression equipment market. • Includes a detailed analysis of market growth drivers, challenges, and investment opportunities. • Delivers a complete overview of market segments and the regional outlook of the market. • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the fire detection and suppression equipment market. Read the full report: https://www.reportlinker.com/p05827565/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:http://www.prnewswire.com/news-releases/the-global-fire-detection-and-suppression-equipment-market-is-expected-to-grow-at-a-cagr-of-over-5-during-the-period-20182024-300959850.html SOURCE Reportlinker |