North America Fire Protection Systems Market by Products, Services, and Industry Vertical - Opportunity Analysis and Industry Forecast, 2020-2030

Market Definition:

The North America Fire Protection Systems Market size was valued at USD 18.81 Billion in 2019 and is predicted to reach USD 34.61 Billion by 2030 with a CAGR of 5.7% from 2020-2030. Fire protection systems are equipment used to suppress and control fire with the help of manual or automatic detectors. Fire protection systems offer safety and reduces potential damage or loss caused by fire hazard. Fire protection system comprises of various components such fire management systems, fire detection systems, fire response systems, and fire analysis & software.

Market Dynamics and Trends:

The increase in the number of fire incidences has led to a rise in casualties, loss of assets and human lives. North America has suffered a loss of around USD 25.6 billion due to fire incidents in 2018 alone. In order to prevent these casualties and loss of assets from such hazards, the demand for advanced fire protection systems have increased in recent years. This growing demand for fire protection systems is followed by the demand for technologies used in alarms, detection, monitoring, and sensing during fire hazards.

Additionally, North America has been witnessing major infrastructural developments which has further boosted the demand for fire protection system market in this region. However, greater penetration of predictive maintenance and fluctuation in raw material prices may hamper the growth of the fire protection system market growth.

Market Segmentations and Scope of the Study:

The North America Fire Protection Systems market share has been analyzed based on product, services, industry vertical, and country. Based on product, the market is segmented into fire detection systems, fire management systems, fire response systems, fire analysis & software, and others. Based on services, the market is segmented into consulting & design services and installation & maintenance services. Based on industry vertical, the North America Fire Protection Systems Market is segmented into BFSI, automotive & transport, manufacturing, energy & power, healthcare, oil & gas and mining, and other verticals. Geographic breakdown and analysis of each of the previously mentioned segments is further analysed across countries such as the U.S., Canada, and Mexico.

Competitive Landscape:

The North America Fire Protection Systems market is highly competitive and consists of numerous market players. Some of the major market players in this market includes Honeywell International Inc., Johnson Controls, Inc., Siemens AG, Orcus Fire & Risk, Inc., Halma PLC, Robert Bosch GmbH, United Technologies Corporation, Amerex Corporation, Gentex Corporation, and HOCHIKI Corporation among others.

KEY MARKET SEGMENTS:

By Product
- Fire detection systems
- Fire management systems
- Fire response systems
- Fire analysis & software
- Others

By Services
- Consulting & design
- Installation & maintenance
- By Industry Vertical
- Banking, Financial Services and Insurance
- Automotive & Transport
- Manufacturing
- Energy & Power
- Healthcare
- Oil & Gas and Mining
- Other Verticals

By Country
- U.S.
- Canada
- Mexico