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(Construction.IndustryNews247.Com, December 21, 2018 ) According to a new market research study titled ‘Fire Protection System Market to 2025 – Global Analysis and Forecasts by Type, Component, and End-User’, the global fire protection system market was valued at US$ 52.64 Bn in 2017 and is estimated to reach US$ 116.51 Bn by 2025. The report highlights the trends prevalent in the global fire protection system market, and the factors driving the market along with those that act as deterrents to its growth.
Majority of the advanced and developing economies have laid down stringent fire regulations regarding the construction of new buildings in order to ensure safety for occupants. Countries such as North America, Australia, Canada, Mexico, UK, Germany, Spain, Italy, and India have laid down stringent regulations. Also, the concerned authorities have laid down heavy punishments in case of violence of the codes. Virtually every building, process, service, design, and installation is affected by NFPA’s codes and standards. These codes and standards, reflect changing industry needs and evolving technologies, supported by research and development, and practical experience. The laying of such rules and regulations have been driving the adoptions of fire protection systems market globally.
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The fire protection system market is segmented on the basis of type, product, and end-use industry; analyzed across five major geographical regions, namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). The fire protection system market is bifurcated on the basis of type into active and passive fire protection systems. All different types of fire protection systems are grouped into these two major categories. Also, the market is segmented on the basis of products. A plethora of products are used for prevention detection, prevention and suppression of fire by different industry verticals and are again broadly divided into the following categories as fire detection systems, fire alarm systems, fire suppression systems and others. Furthermore, there are many types of fire detection systems used in the market by various industry verticals. These different fire detection systems form the basis of a further sub-segment for the fire detection system market. Smoke detectors, heat detectors, flame detectors and others constitute the segment of fire detection systems. Lastly, the market has also been segregated on the basis of end-user industry into residential, commercial, government, mining, transportation, oil & gas, manufacturing, energy & power, and others.
This industry is expected to witness a rapid growth and drive the growth of fire protection system market. Players having a good hold over the fire protection system market can look to venture into providing advanced product solutions to businesses from various industry verticals. The key players profiled in the report are Siemens AG, United Technologies, Hochiki Corporation, Minimax Viking GmbH, and Gentex Corporation. Also, Honeywell International, Inc., Johnson Controls, Inc., Robert Bosch GmBH, VFP Fire Systems, Inc., and Halma PLC are other key companies in the fire protection system market.
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The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com 
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