United States Fire Safety Equipment Market Size, Share, and COVID-19 Impact Analysis, By Solution (Detection, Suppression), By Application (Commercial, Industrial, Residential), and United States Fire Safety Equipment Market Insights Forecasts 2022 – 2032

Industry: Semiconductors & Electronics

RELEASE DATE Dec 2023
REPORT ID SI3285
PAGES 200
REPORT FORMAT PathSoft

United States Fire Safety Equipment Market Insights Forecasts to 2032

  • The United States Fire Safety Equipment Market Size was valued at USD 14.80 Billion in 2022.
  • The Market Size is Growing at a CAGR of 2.99% from 2022 to 2032.
  • The United States Fire Safety Equipment Market Size is Expected to Reach USD 19.88 Billion by 2032.

 

United States Fire Safety Equipment Market

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The United States Fire Safety Equipment Market Size is Expected to Reach USD 19.88 Billion by 2032, at a CAGR of 2.99% during the forecast period 2022 to 2032.   

 

Market Overview

The demand for United States fire safety equipment is expected to rise as urbanization and safety concerns grow. Fire equipment includes a wide range of devices ranging from escape and equipment to firefighting gear and extinguishers. Some examples of common United States fire safety equipment include fire extinguisher cabinets, dry hydrants, fire extinguisher alarms, fire hoses, fire probing tools, wheeled fire extinguishers, fire blankets, fire extinguisher brackets, escape ladders, hydrant wrenches, and hydrant valves. Apart from the aforementioned, the value associated with the loss of man-hours due to fire hazards may be a vital concern worldwide, which consequently encourages industries to deploy fire safety equipment wherever relevant. Fire safety equipment is frequently divided into two parts and supported by two key elements: fire detection and fire suppression.  

 

Report Coverage

This research report categorizes the market for the United States fire safety equipment market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States fire safety equipment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the United States fire safety equipment market.

 

United States Fire Safety Equipment Market Report Coverage

Report CoverageDetails
Base Year:2022
Market Size in 2022:USD 14.80 Billion
Forecast Period:2022-2032
Forecast Period 2022-2032 CAGR:2.99%
2032 Value Projection:USD 19.88 Billion
Historical Data for:2018-2021
No. of Pages:200
Tables, Charts & Figures:120
Segments covered:By Solution, By Application, and COVID-19 Impact Analysis.
Companies Covered:Eaton Corp., Inc., Gentex Corp., Halma plc, Hochiki Corp., Honeywell International, Inc., Johnson Controls, Napco Security Technologies, Inc., Nittan Company, Ltd., Robert Bosch GmbH, Siemens Building Technologies, Space Age Electronics, United Technologies Corp and Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

Growing awareness of fire hazards, as well as a significant increase in building infrastructure development activities, are expected to be significant market drivers. Furthermore, technological advancements such as wireless alarm systems, smoke detectors, and water mist technology will contribute to the increase. Increased spending on new construction activities, as well as the replacement of obsolete fire alarms, sprinklers, and detectors, are expected to drive market growth in the coming years.

 

Restraining Factors

The lack of awareness about the benefits of this equipment will also limit growth. Another significant bottleneck for the fire safety equipment market has been the lack of rigorous ground-level monitoring in rural areas.

 

Market Segment

  • In 2022, the detection segment is expected to grow at the highest CAGR over the forecast period.

Based on the solution, the United States fire safety equipment market is segmented into detection and suppression. Among these, the detection segment is expected to grow at the highest CAGR over the forecast period. This expansion can be attributed to increased policies, regulations, and government mandates, as well as the use of advanced detection technology. Furthermore, the growing number of fire accidents around the United States has necessitated the installation of fire safety equipment. During the forecast period, the rapid development of commercial construction and the expansion of smart city projects will drive up demand for fire detection equipment. Furthermore, increased consumer spending on construction activities due to disposable income availability and growing awareness about fire detectors are expected to drive market growth shortly.

 

  • In 2022, the commercial segment accounted for a significant revenue share over the forecast period.

Based on the application, the United States fire safety equipment market is segmented into commercial, industrial, and residential. Among these, the commercial segment has a significant revenue share over the forecast period. Fire safety equipment is increasingly being used in commercial settings such as offices, hospitals, and shopping malls. The commercial sector in the United States is expanding rapidly, due to factors such as economic development, increased consumer spending, and technological advancements. Furthermore, as businesses expand their operations, build new facilities, or renovate existing ones, effective fire protection systems become increasingly important. These systems help in the prevention of fires, the detection of potential hazards, and the rapid evacuation of occupants, minimizing property damage and ensuring occupant safety. These systems were mostly found in commercial structures like offices, hospitals, and shopping malls. As a result, such factors are expected to drive segment growth.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States fire safety equipment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Eaton Corp., Inc.
  • Gentex Corp.
  • Halma plc
  • Hochiki Corp.
  • Honeywell International, Inc.
  • Johnson Controls
  • Napco Security Technologies, Inc.
  • Nittan Company, Ltd.
  • Robert Bosch GmbH
  • Siemens Building Technologies
  • Space Age Electronics
  • United Technologies Corp
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • In April 2022, CEP (Concentric Equity Partners) and RapidFire Safety & Security announced a strategic partnership. RapidFire Safety & Security is formed through this partnership to acquire existing businesses in Missouri, Arizona, California, Texas, and other neighboring states led by people-first owners interested in joining customer-centric companies committed to stable growth through streamlined operations and expanded services.

 

Market Segment

This study forecasts revenue at regional, and country levels from 2021 to 2032. Spherical Insights has segmented the United States Fire Safety Equipment Market based on the below-mentioned segments:

 

United States Fire Safety Equipment Market, By Solution

  • Detection
  • Suppression

 

United States Fire Safety Equipment Market, By Application

  • Commercial
  • Industrial
  • Residential

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