Enhanced Fire Protection Systems Market

The global Enhanced Fire Protection Systems market was valued at USD 893.8 Million in 2020 and is projected to reach USD 1176.98 Million by 2028, growing at a CAGR of 3.5% from 2021 to 2028.

The enhanced fire protection system is a certified product, developed according to the standards specified by the government authorities and regulatory bodies to control fire outbreaks. This system is equipped with flame detectors and smoke control devices that aid during fire emergency. Alarm valves and sprinkler systems are some of the widely used fire protection systems. These systems have been invented to detect and respond to fire, smoke, or flame. Introduction of fire protection systems has helped in responding quickly and accurately to fire, as compared to the traditional heat or smoke devices used in the past. Furthermore, fire sensors and detectors when installed in commercial buildings serve as ideal and affordable safety measure

The global Enhanced Fire Protection Systems market is segmented based on by Type, Application, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Enhanced Fire Protection Systems  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

These systems has gained huge popularity in energy sector due to presence of government regulations to reduce environmental effects of offshore drilling. With this, there is increase in demand for installing enhanced fire protection systems. This is anticipated to augment the growth of the market over the forecast period.

The increaisng investments by offshore oil & gas exploration players for meeting standards as well as regulatory framework which is implemented by regulatory bodies is fueling the enhanced fire protection systems demand as well as driving the growth.

The high costs of installation and maintenance of fire protection systems is expected to limit the growth of the market in the near future.

Type  Analysis: Preview

On the basis of Type, the market is segmented into Active Systems, Passive Systems. Active Systems  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Active Systems in emerging economies in Asia Pacific region.

Application Analysis: Preview

Based on Application, the market is segmented into Oil and Gas Industry, Construction Industry, Residential, Others. Oil and Gas Industry accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

On the basis of region, the global Enhanced Fire Protection Systems market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held the largest share of the global Enhanced Fire Protection Systems market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is one of the most profitable countries for companies operating in the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Enhanced Fire Protection Systems market are Knowsley SK, Consilium, Semco Maritime, Tyco, Deluge, Marioff, Minimax. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.