The global Fire Alarm Equipment (FAS) market was valued at USD 54.23 Billion in 2020 and is projected to reach USD 88.51 Billion by 2028, growing at a CAGR of 9.23% from 2021 to 2028.

Fire Alarm System (FAS) – addressable system, which is designed for just in time detecting fire and forming control signals for automatic fire-extinguishing system, alerting, smoke ventilation, exit signs, etc.

The global Fire Alarm Equipment (FAS) market was valued at USD 54.23 Billion in 2020 and is projected to reach USD 88.51 Billion by 2028, growing at a CAGR of 9.23% from 2021 to 2028.

The global Fire Alarm Equipment (FAS) market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 and forecast from 2021 to 2028. 

Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. 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.

The increase in stringent governmental regulation for the safety of labors that are working in the industries and jurisdictional requirements by various economies is expected to fuel the growth of the fire alarm equipment (FAE) market in the years to come.

The increasing human and property loss due to fire breakouts along with increasing adoption of wireless technologies in fire detection is likely to further support the growth of the market during the estimated timeframe.

The high costs of installation and maintenance of fire protection systems are some of the factors restraining the growth of the fire alarm equipment (FAE) market in the years to come.

Product  Analysis: Preview

On the basis of Product, the market is segmented into Annunciators, Notification Devices, Manual Pull Stations,. Annunciators  held the highest share in 2020 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the Annunciators in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Fire Alarm Equipment (FAS) market growth.

Application Analysis: Preview

Based on Application, the market is segmented into Residential, Industrial Manufacturing, Others,. Residential  held the largest share and is projected to grow at a notable CAGR over the coming years. Rising demand for Fire Alarm Equipment (FAS)  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.

On the basis of region, the global Fire Alarm Equipment (FAS) market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held a leading share of the global Fire Alarm Equipment (FAS) market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.

• 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 numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Fire Alarm Equipment (FAS) market are Schrack Seconet, Johnson Controls, Siemens Building Technologies Group, Securiton, The Nittan Group, Eaton, Panasonic Eco-Solutions Nordic AB, Fike, Honeywell Life Safety, Bosch Security Systems Inc., C-TEC, Tyco International Ltd.. The report covers company market share analysis which gives a comprehensive overview of the main 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.

• Global Fire Alarm Equipment (FAS) Market is projected to reach USD 88.51 Billion by 2028
• Asia Pacific held the highest share of the Fire Alarm Equipment (FAS) market
• Annunciators held the largest share of the product segment in the Fire Alarm Equipment (FAS) market
• Residential held the major share of the application segment in the Fire Alarm Equipment (FAS) market