According to a new market research report published by Credence Research, “Fire Protection Systems Market - Growth, Future Prospects, and Competitive Landscape, 2018 -2026”, the global market for fire protection systems is expected to expand to CAGR by 7.8% between 2018 and 2026.

Browse Full Report at https://www.credenceresearch.com/report/fire-protection-system-market

Market Insights

Fire protection systems are devices used to prevent or control and extinguish the fire. Ideally, fire detectors and heat detectors are coupled with an alarm system that alerts employees to the potential risk of fire or explosion due to possible gas leakage. Following the rising occurrence of fire outbreaks at the workplace and the resulting loss of assets, companies across vertical lines have realized the importance of installing state-of-the-art automated safety solutions, including fire protection units. In addition to this apprehension, strict regulations and codes to promote occupational health and personnel safety are instrumental in driving the demand for fire protection systems worldwide.

As a result, the need for safety at work for life and equipment remains a key factor driving market demand worldwide. With ever-increasing energy demands, oil & gas exploration activities are on the rise, leading to fire protection systems on-site. In addition, with a significant number of floating liquefied natural gas vessels proposed to be established in the Asia Pacific, demand for fire suppression systems is expected to increase in the coming years. Ongoing trends, including the modernization of existing civil infrastructure, an increase in industrialization and growing popularity of green offices and eco-friendly buildings, are collectively driving demand for safety sensing technologies across vertical lines. All of these factors are expected to contribute positively to the CAGR of 7.8% over the forecast period from 2018 to 2026.

On the other hand, the negative impact on cash flows of oil producers can be seen in the wake of unstable oil prices worldwide. In the event that this situation remains unchanged, it may have a negative impact on the number of upcoming oil & gas projects and the associated demand for safety solutions. The global market for fire protection systems is fragmented and competitive with a large number of players active on the market.

Browse Full Report at https://www.credenceresearch.com/report/fire-protection-system-market

List of Companies Covered:

ABB Ltd

Siemens AG

Honeywell International Inc.

Johnson Controls, Inc.

United Technologies

Robert Bosch GmbH

Hochiki Corporation

Gentex Corporation

Minimax Viking GmbH

VFP Fire Systems, Inc.

Halma PLC

Others.

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58242

Market Segmentation

By End-use Vertical Segment

Residential
Commercial
Oil & Gas
Industrial Manufacturing
Transportation
Government
Mining & Energy
Others (Education, Healthcare, etc.)

By Product Segment

Fire Alarm Systems
Fire Suppression Systems
Fire Standpipe Systems
Others

By Technology Segment

Active Fire Protection Systems
Passive Fire Protection Systems

By Geography Segment Type

North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58242

Medium Blog: Fire Protection Systems Market