Increase in
expenditure on the protection of assets from fire hazards is
contributing to the growth of the Fire
Protection Equipment Market. Moreover, increasing awareness
in combating fire hazards along with considerable growth in building
of infrastructures is also fueling this market. Therefore, this
market has witness traction in the fields of the banking, retail,
energy and power, healthcare, government, and mining among others.
Organizations across the globe have remarkably increased their
spending on fire protection to safeguard their infrastructure and
also to reduce human losses. Technologies, such as smart building,
human machine interface solutions, nanotechnology, and wireless
sensory networks are expected to enter in the fire protection systems
market. Newly innovated advanced sensors, that provide accurate data
to the control units, have been developed. Intelligent sensors
possessing networking capabilities, in a group of detectors and
sensors can easily communicate through control units that help in
achieving more efficiency in the systems. Distant users are now able
to access these intelligent detectors and sensors by connecting
through WAN/LAN networks.
Implementation of
the renovation conducts and building safety codes against fire is a
major driving factor for the remarkable growth of fire protection
equipment market. For instance, in China, the Code of Design for
Building Fire Protection and Prevention forms a part of the national
building standards. These standards are developed by state agencies
with the help of designers, industry and municipal agencies. Such
regulations are governed by the public security ministry through
local fire services. Owing to the growth in infrastructure in the
developed countries, new opportunities are defined in the fire
protection system market. In addition, increasing number of fire
accidents leads to increased number of causalities, losses of assets
as well as humans. To restrict and reduce these causalities from such
threats the need of fire protection equipment is increasing.
Organizations are anticipated to invest in this market at a much
higher rate as compared to the past. The organizations have to adhere
to strict corporate compliance and regulatory requirements, owing to
which sectors such as mining, energy, oil and gas and power, are
showing positive trend.
Demand for fire
protection equipment is price elastic, so it forces manufacturers to
make products of high quality at low prices. Established market
players can handle price pressures by outweighing lower earnings from
products providing higher profits, however, it is a major challenge
for small players in order to remain competitive. But with
technological advancements, market is likely to observe low cost fire
protection equipment market in near future.
One of the
challenges that the fire protection market faces is of user
interface, especially when there is a use of multiple solutions in
the control mechanism. For instance, integration of fire detectors to
the existing one may lead to difficulties for the user which is
encumbered with the task of learning different interfaces.
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European region
poses as the largest market for fire protection system worldwide. The
reason being, compulsory conformance to strict government rules and
regulations related to installation of fire protection system in
buildings. Similarly, Asia-Pacific is expected to achieve the fastest
growth in the fire protection system market owing to considerable
growth in building of infrastructures.
Some of the Major
Players operating in this market
are; Cooper Wheelock, Bosch Security System Inc., Gentex Corporation,
Panasonic Corporation, ADT Security Services Inc. Honeywell Security
& Communications, WSA Fire Systems., Napco Security Company Inc.,
Nittan Company Limited, RSG/Aames Security Inc., Signal
Communications Corporation, Siemens Building Technologies Group, Tyco
International, Ltd., Spectronics Corporation, SimplexGrinnell LP,
Fenwal Controls Japan Ltd, Nohmi Bosai Ltd, and Space Age Electronics
Inc., among others
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