Sarasota, FL -- (SBWIRE) -- 03/30/2019 -- According to the report, the global fire protection system market was valued at USD 57.31 billion in 2018 and is expected to reach USD 98.85 billion by 2025, at a CAGR of 8.1% between 2019 and 2025.

A fire protection system is designed and developed to extinguish fires and avoid property losses. These systems help to detect, regulate, extinguish, and alert building occupants from fires or smoke. The fire protection system is an emergency response system used in case fires of any kind. It is widely used in energy and power, oil and gas, mining, manufacturing, residential and commercial, government, healthcare, transportation, and logistics, etc. Increasing technological advancements in fire protection system are witnessed worldwide and widely implemented by the transportation industry. Moreover, the rising technological advancements in fire protection are slated to further boost market expansion. However, the high installation and maintenance costs of fire protection systems may hamper the market in the future. Conversely, the rapid expansion of smoke detectors coupled with big data and IoT is likely to offer ample growth opportunities for the fire protection system market over the estimated timeframe.

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The global fire protection system market can be segmented into product, service, and vertical. Based on the product, the global fire protection market is further classified into fire sprinkler, fire detection, fire analysis, fire response, and fire suppression. Fire suppression system dominated the global market in 2018, as it suppresses fire by releasing a suppression agent. By service, the market includes maintenance, installation and design, engineering, managed, and others. The maintenance service segment is anticipated to lead the market in the future, owing to its increased demand across different verticals. By vertical, the market includes oil and gas, mining, energy and power, manufacturing, government, transportation and logistics, residential and commercial, healthcare, and others. The residential and commercial segment is predicted to witness significant growth over the forecast time period, whereas the government vertical is projected to show the highest rate over the forecast time period.

By region, North America dominated the global fire protection system market in 2018 and is estimated to continue its dominance over the forecast timeline as well. The U.S. and Canada dominated the fire protection system market in North America, owing to the growing infrastructural expansion. The Asia Pacific fire protection system market is projected to show the highest CAGR over the review period.

Some key manufacturers of the global fire protection system market are United Technologies, Johnson Controls, Siemens, Honeywell, Halma, Robert Bosch, Minimax Viking, Gentex, Securiton AG, Fire Suppression Limited, Encore Fire Protection, Sterling Safety Systems, Schrack Seconet AG, VFP Fire Systems, and Napco Security Technologies.

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The report segments the global fire protection system market into:

Global Fire Protection System Market: Product Analysis

Fire Detection
Fire Suppression
Fire Sprinkler
Fire Analysis
Fire Response

Global Fire Protection System Market: Service Analysis

Engineering
Installation and Design
Maintenance
Managed
Others

Global Fire Protection System Market: Vertical Analysis

Residential and Commercial
Energy and Power
Government
Manufacturing
Oil and Gas
Mining
Transportation and Logistics
Healthcare
Others

Global Fire Protection System Market: Regional Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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