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(Construction.IndustryNews247.Com, November 09, 2018 ) The global fire protection system market is estimated to grow at a CAGR of 10.5% during the forecast period 2018 – 2025 and account for US$ 116.51 Bn by the year 2025.
APAC is the fastest growing region in the fire protection system market. The major reason for this is the high reconstruction process in China and India. China is the most populated country in the world, and a country with a large number of companies established. As the population is increasing, the need for new constructions as well as reconstruction of older buildings for turning to high rise towers is increasing, leading to increasing demand for safe and secure fire protection systems integrated into the buildings, office spaces, national heritage sites, manufacturing industries and other building utilities spaces.
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The fire detection system is further sub-segmented into the different types of detector used. The sub-segmentation on the basis of fire detection systems include flame detectors, smoke detectors, heat detectors and others. These fire protection systems are used in a broad and a very diverse range of end-user industries and therefore, form the basis of segmentation based on end-use industry. The end-users for fire protection system include residential, commercial, manufacturing, oil & gas, government, transportation, power & energy, mining & others. On the basis of geography, the fire protection system market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The measures taken to prevent the occurrence of fire in building premises or implement a corrective action on the fires happened to enforce minimal losses of human lives and property are done with the help of fire protection system. A broad variety of equipment used for varied purposes such as detection, alarming, and extinguishing together form the fire protection system. Rising urbanization in the current times has also increased the risks of rising fire cases in the buildings. Hence, the protection of building assets and human lives is the extremely critical aspect of infrastructural constructions.
Fire protection systems that constitute detection systems, suppression systems and extinguishing systems. These systems prove to be of high importance as they can detect fires and also alert warnings to human occupants so that they can evacuate the premises insufficient period of time and also take corrective actions against the fires minimizing the fire losses.
The Fire Protection System market segmentation is done on the basis of type, product, and end-use industry. The market for fire protection system is bifurcated on the basis of type into active fire protection systems and passive fire protection systems. A plethora of products performing different functions in detection, warning, and extinguishing of fires are used in the global market space come under the scope of fire protection system. Broadly, these diverse ranges of products are categorized and segmented under the product based segmentation into fire detection system, fire alarm system, fire suppression system and others.
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Apart from this, the development of smart cities in India is leading to infrastructure development and renovation in many major cities of India, leading to increasing demand for integration of high technology-based intelligent fire protection systems. These new installations and reconstructions are expected to continue during the forecast period, contributing to the high growth of fire protection systems market in the region. Some of the global key players operating in the fire protection system market are United Technologies Corporation, Honeywell International Inc., Halma PLC, Minimax Viking GmBH, and VFP Fire Systems. Also, Hochiki Corporation, Genetex Corportation, Siemens AG, Johnson Controls, Inc., and Robert Bosch GmBH are other key companies in the fire protection system market.
The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com 
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