Published Date : Apr 22, 2016
Owing to the rising frequency of security problems and fire accidents¸ the fire alarm equipment market has experienced maturity in the past few years globally. However, due to the ongoing innovations in product and technology, the market keeps on expanding constantly. There are numerous types of fire alarm equipment and systems introduced in the market including heat detectors, smoke detectors, flame detectors utilized in private buildings, public buildings, industrial settings, and commercial spaces. Fire alarm equipment is utilized in warehouses, chemical factories, airports, theaters, drilling platforms, churches, office building, pumping stations, large-scale garages, apartments, sewage plants, and museums, among others.
The key factors stimulating the market for fire alarm equipment are mentioned as follows:
Thus, all of these factors are poised to bring in new opportunities for the growth of the market, augmenting market growth. However, the absence of adequate control and compliance may restrain the development of the market for fire alarm equipment in the coming years. The prominent players dominant in the market are TYCO, Protec Fire Detection, Siemens, Johnson Controls, Bosch Security Systems, United Technologies Corporation (UTC), Honeywell, London Security, and Mircom Group of Companies, among others.