Prime Factors Fuelling Fire Alarm Equipment Market, Introduction of Compulsory Health Safety Guidelines a Major Factor

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:

  • The increasing demand from the construction industry for fire alarm equipment is a key growth factor but is dependent on the factor that the modern buildings and new constructions for housing and public facilities use the latest technology of fire detection systems.
  • The introduction of the compulsory health safety guidelines is also a prime factor propelling the growth of the market. 
  • Various nations’ judicial needs such as the Building Code of Australia and the Fire Protection Association within the U.S have made the installation of fire detection equipment compulsory. These include smoke alarms and fire alarms. This factor majorly fuels the fire alarm equipment market.
  • A number of strict government regulation have ensured the security and safety of laborers employed within numerous industries. 
  • The penetration of cutting-edge technologies including human machine interface (HMI), wireless sensory networks, nanotechnology, and smart buildings have also immensely taken part in the expansion of the market for fire alarm equipment. 
  • The increasing awareness about fire prevention and protection amongst the population has also greatly fuelled the demand for fire alarm systems. 

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.