Fire alarm and detection technology is critical for the early identification of fire breakouts to alert occupants and fire emergency organizations. The global fire alarm and detection market is a mature market considering the enhanced security and safety measures in place to prevent and control fires; however, the market is yet expected to register steady growth in years to come with growing demand from the construction industry and emerging mandatory health safety guidelines. In developed nations, investments tend to be associated with retrofits, modernization, or replacement projects whereas in developing regions, investments are largely associated with grassroots projects.
The fire alarm and detection market can be segmented by alarm technology, detector technology, application, and geography
On the basis of alarm technology, the fire alarm and detection market can be segmented into conventional and addressable. Among the two, the addressable alarm technology segment is projected to hold the largest share, as it is one of the cheapest technologies with high reliability, ability to identify the exact location of the fire, and potential to curb false alarms.
By detector technology, the fire alarm and detection market can be segmented into smoke, heat, and flame. The smoke detector technology segment is expected to expand at the highest CAGR during the forecast period, owing to its cost-effectiveness and longer life span.
By application, the fire alarm and detection market can be segmented into commercial, industrial, and residential. The commercial segment is expected to grow at the highest CAGR as this segment covers the installation of fire alarm and fire detection systems in commercial establishments such as office buildings, industrial complexes, restaurants, and other non-residential properties.
On the basis of geography, the market has been segmented into North America, Europe, Asia Pacific, and LAMEA.
North America is anticipated to dominate the market over the forecast period, owing to the stringent government regulations that mandate the installation of fire alarm and fire detection systems. Market players in the region are focusing on enhancing their product portfolios to stay ahead of the competition.
The Europe fire alarm and detection systems market is expected to grow at a significant rate over the forecast period. In December 2017, Honeywell acquired the Italian company, SCAME Sistemi, s.r.l., further adding new fire and gas safety capabilities to its portfolio of Connected Building solutions.
The fire alarm and detection systems market in Asia Pacific is expected to grow at a fast pace, owing to the rapid industrialization in developing economies across the region. With the region’s immense scope for growth, players are looking to expand in Asia Pacific; for instance, in April 2015, Fire Protection Technologies officially opened a new South East Asia Regional Office in Singapore.
The LAMEA region is projected to grow at a healthy rate in the fire alarm and detection systems market as international players in the region are offering an extensive range of products.
Some noteworthy players in the fire alarm and detection technology market include Emersion Electric Co., Fike Corporation, Gentex Corporation, Halma plc, Hochiki Corporation, and Honeywell International, Inc.
Many companies are making significant investments in R&D for product innovation and differentiation to gain a competitive advantage. Apart from this, mergers and acquisitions well as geographical expansion are among the key strategies being employed by prominent participants.
In August 2018, Honeywell introduced a new line of addressable smoke and heat detectors devices, which are reliable against false alarms and designed to meet the new industry requirements that go into effect in the United States in 2020 – the UL 268 7th Edition standards.
Fire Alarm and Detection Market Segmentation
By Alarm Technology
By Detector Technology