Global Fire Alarm Market Size Expected to Acquire USD 50.8 Billion by 2030, At a 7.5% CAGR | Safety Industry Analysis

[217 + Pages Research Study] According to a market research study published by Zion Market Research, the demand analysis of Global Fire Alarm Market size & share revenue was valued at around USD 28.5 billion in 2022 and is estimated to grow about USD 50.8 billion by 2030, at a CAGR of approximately 7.5% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Bosch Limited, Ravel, Vighnaharta Technologies Pvt. Ltd., Honeywell HBT, Eaton, Siemens AG, Schneider Electric, Napco Security Technologies Inc., Carrier, ABB, Kentec Electronics Ltd., NITTAN COMPANY LTD., Schrack Seconet AG, Koorsen Fire & Security, Marlowe Fire & Security Limited, Summit Fire Protection Co., Johnson Controls, ADT, Pavion, A-1 Fire & Security Equipment Co., UL LLC, ASES Security Pvt. Ltd., High Rise Security Systems, and DSS Fire Inc among others.

New York, NY, July 18, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled *“Fire Alarm Market By Product Type (Manual Initiating Devices, Automatic Initiating Devices, And Others), By Connectivity (Addressable System, Intelligent System, Wireless System, And Others), By End User (Commercial, Industrial, And Residential), By Detectors (Ionizing Detectors, Photoelectric Detectors, And Heat Detectors) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”* in its research database.

“According to the latest research study, the demand of global Fire Alarm Market size & share in terms of revenue was valued at USD 28.5 billion in 2022 and it is expected to surpass around USD 50.8 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.5% during the forecast period 2023 to 2030.”

*What is Fire Alarm? How big is the Fire Alarm Industry?*

*Fire Alarm Report Coverage & Overview:*

Fire alarm systems play a crucial role in ensuring the safety of individuals and property by detecting and alerting people to the presence of a fire or smoke. These systems are designed to provide early warning signals, allowing occupants to evacuate a building safely and enabling emergency responders to initiate appropriate actions. Fire alarm systems are typically installed in various types of buildings, including commercial buildings, industrial facilities, educational institutions, healthcare centers, and residential complexes. They are a fundamental component of building safety regulations and codes, aiming to prevent casualties and minimize property damage in the event of a fire.

The advancements in technology have led to the development of more sophisticated fire alarm systems, such as addressable systems and intelligent systems. These systems provide enhanced features, such as precise location identification, advanced detection algorithms, and integration with other building systems for improved overall safety and control. The fire alarm market is being driven by various factors including growing technological advancements, stringent rules & regulations imposed by government bodies, and growing awareness related to safety.

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*Global Fire Alarm Market: Growth Dynamics*

The expansion of the building sector, an increase in the number of fire outbreaks that result in property damage & human casualties, strict regulations, and the growing use of wireless technology for fire detection are all contributing variables to the growth of the global fire alarm market. In the upcoming years, the fire alarm industry will advance due to the rising need for new smoke detection equipment in fire-prone industries such as oil & gas, manufacturing, automotive, energy & power, petrochemical, mining, and construction. However, false alarms and retrofitting challenges are expected to hamper the growth of the market over the forecast period.

In order to protect both people's lives and their property, governments and other regulatory agencies all over the world are continually working to make fire safety standards stricter. Demand for fire alarm systems is driven by compliance with these rules, as building owners and operators are required to install and maintain these systems in order to fulfill the prescribed safety standards. Compliance with these regulations promotes demand for fire alarm systems. For example, according to the New York State Department of Health, the presence of smoke and fire alarms that are in working order reduces the risk of dying in a fire by a factor of fifty percent. A further 890 lives could be saved annually by having smoke and fire alarms placed in every single home in the United States. To prevent the occurrence of such catastrophic events, a number of governments have enacted stringent rules and regulations pertaining to fire and safety. In addition, according to section 1926.150 (e) of the fire protection and prevention act of the United States Department of Labor, fire alarm systems are mandated to be installed in commercial buildings and other types of structures. As a result, the expansion of the global market for fire alarms is anticipated to be driven during the projected period by the increasing number of regulations concerning fire safety.

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*Report Scope*

*Report Attribute* *Details*
Market Size in 2022 USD 28.5 billion
Projected Market Size in 2030 USD 50.8 billion
CAGR Growth Rate 7.5% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players Bosch Limited, Ravel, Vighnaharta Technologies Pvt. Ltd., Honeywell HBT, Eaton, Siemens AG, Schneider Electric, Napco Security Technologies Inc., Carrier, ABB, Kentec Electronics Ltd., NITTAN COMPANY LTD., Schrack Seconet AG, Koorsen Fire & Security, Marlowe Fire & Security Limited, Summit Fire Protection Co., Johnson Controls, ADT, Pavion, A-1 Fire & Security Equipment Co., UL LLC, ASES Security Pvt. Ltd., High Rise Security Systems, and DSS Fire Inc. among others.
Key Segment By Product Type, By Connectivity, By End User, By Detectors, and By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

*Fire Alarm Market: Segmentation **Analysis*

The global fire alarm industry is segmented based on product type, connectivity, end user, detectors, and region.

Based on the product type, the global market is bifurcated into manual initiating devices, automatic initiating devices, and others.

Based on the connectivity, the global fire alarm industry is divided into addressable systems, intelligent systems, wireless systems, and others.

Based on the end user, the global industry is divided into commercial, industrial, and residential. The commercial segment is expected to dominate the fire alarm market during the forecast period. In commercial buildings including offices, hospitals, schools, malls and other retail establishments, hotels, restaurants, and others, fire alarms are widely used. Research shows that commercial property owners spend more than USD 2.4 billion annually due to fires. Food preparation using stoves and ovens is the main cause of fires in commercial buildings including hotels, restaurants, and cafés. Thereby, driving the segment growth.

Based on the detectors, the global market is divided into ionizing detectors, photoelectric detectors, and heat detectors.

The global Fire Alarm market is segmented as follows:

*By Product Type*

· Manual initiating devices
· Automatic initiating devices
· Others

*By Connectivity*

· Addressable system
· Intelligent system
· Wireless system
· Others

*By End User*

· Commercial
· Industrial
· Residential

*By Detectors*

· Ionization Detectors
· Photoelectric Detectors
· Heat Detectors

Browse the full *“Fire Alarm Market By Product Type (Manual Initiating Devices, Automatic Initiating Devices, And Others), By Connectivity (Addressable System, Intelligent System, Wireless System, And Others), By End User (Commercial, Industrial, And Residential), By Detectors (Ionizing Detectors, Photoelectric Detectors, And Heat Detectors) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”* Report at https://www.zionmarketresearch.com/report/fire-alarm-market

*Competitive Landscape*

Some of the main competitors dominating the global Fire Alarm market include - 

· Bosch Limited
· Ravel
· Vighnaharta Technologies Pvt. Ltd.
· Honeywell HBT
· Eaton
· Siemens AG
· Schneider Electric
· Napco Security Technologies Inc.
· Carrier
· ABB
· Kentec Electronics Ltd.
· NITTAN COMPANY LTD.
· Schrack Seconet AG
· Koorsen Fire & Security
· Marlowe Fire & Security Limited
· Summit Fire Protection Co.
· Johnson Controls
· ADT
· Pavion
· A-1 Fire & Security Equipment Co.
· UL LLC
· ASES Security Pvt. Ltd.
· High Rise Security Systems
· DSS Fire Inc

*Key Insights from Primary Research**:*

· As per the analysis shared by our research analyst, the global fire alarm market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2023-2030).
· In terms of revenue, the global fire alarm market size was valued at around USD 28.5 billion in 2022 and is projected to reach USD 50.8 billion, by 2030.
· The growing incidence of fire-related fatalities is expected to drive the growth of the fire alarm market during the forecast period.
· Based on the product type, the manual initiating devices segment is expected to capture the largest revenue share over the forecast period.
· Based on the connectivity, the addressable system held the largest revenue share in 2021 and is expected to continue the same pattern during the forecast period.
· Based on region, North America is expected to dominate the market during the forecast period.

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*Key questions answered in this report:*

· What is the market size and growth rate forecast for Fire Alarm industry?
· What are the main driving factors propelling the Fire Alarm Market forward?
· What are the leading companies in the Fire Alarm Industry?
· What segments does the Fire Alarm Market cover?
· How can I receive a free copy of the Fire Alarm Market sample report and company profiles?

*Key Offerings:*

· Market Size & Forecast by Revenue | 2023−2030
· Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
· Market Segmentation – A detailed analysis By Product Type, By Connectivity, By End User, By Detectors, and By Region
· Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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*Regional Analysis**:*

North America is expected to capture the largest global fire alarm market share during the forecast period. The region has well-established fire safety regulations and codes that require the installation of fire alarm systems in various types of buildings. These regulations are enforced at federal, state, and local levels and are aimed at ensuring the safety of occupants and minimizing fire-related risks, which in turn, drives the market growth. Besides, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. Rapid urbanization in the Asia Pacific region has led to the construction of commercial complexes, residential buildings, and industrial facilities. These developments require the implementation of fire alarm systems to meet safety regulations and protect lives and property, contributing to the growth of the market.

*By Region*

· North America

· U.S.
· Canada
· Rest of North America

· Europe

· France
· UK
· Spain
· Germany
· Italy
· Rest of Europe

· Asia Pacific

· China
· Japan
· India
· South Korea
· Rest of Asia Pacific

· The Middle East & Africa

· Saudi Arabia
· South Africa
· Rest of the Middle East & Africa

· Latin America

· Brazil
· Argentina
· Rest of Latin America

*Recent Developments*

· In April 2021, a new version of the fire prevention system Cerberus FIT was introduced by the global conglomerate company Siemens AG, located in Germany, exclusively for the market for small to medium-sized buildings. The new Cerberus FIT control panel offers an intuitive user interface, self-explanatory LED indications, and an easy-to-read display. Cerberus FIT is a cost-effective solution. This eliminates the need for time-consuming training and enables facility staff to carry out simple operational tasks without seeking the advice of experts.
· In March 2023, the acquisition of Green Enterprises, LLC, doing business as "Global Alarm Systems" was announced by Summit Fire & Security LLC, a division of SFP Holding, Inc. (Summit Companies).

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