Fire Safety Equipment is used to deal with fire outbreaks which mainly includes products such as fire detectors, fire alarms, fireproof gears, extinguishers, sprinklers, fire exits windows, exhausts, and more. The variety of products in fire safety equipment leads to different services provided by the companies from installations, replacements, system inspection, and maintenance for commercial, industrial, residential, transport, and logistics purposes. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
1. Although
the Fire Safety Equipment Market Has More Than 1000 Companies Around the Globe,
Still Less Than 5% Of Companies Are Able to Create a Strong Global Presence
Competitive Analysis by the Ken
Research Study found that the Global Fire
Safety Equipment Market is highly
competitive in nature with more than 1000 players, which include globally
diversified players, regional players as well as a large number of
country-niche players having their niche in the Fire Safety Equipment market
for specific segments and sub-segments. The global players accounted for the
largest market share at ~40 % with regional players holding the second largest
position at ~35%. Although there are around 60% of country niche players, still
they are only able to control one-fourth of the market share.
2. The
Rapid Advancements Of AI And IoT in The Fire Safety Equipment Market Are
Creating New Opportunities For Companies To Penetrate The Market Effectively
Detailed comparative analysis of
key competitors available within the Research
Study shows that specialist players
such as Robert Bosch GmbH, Eaton Corp., Inc., Gentex Corp., Space Age
Electronics, Halma plc, Siemens Building Technologies, Hochiki Corp., Nittan
Company, Ltd. and more are providing smart fire safety equipment for various
application purposes from commercial, industrial, residential as well as in
transport and logistics. The smart fire safety equipment is capable of setting
up a connection with all surrounding devices to perform efficiently during a
possible fire outbreak.
- Siemens Building Technology has a special
Smart Fire detection system called “Sinteso” that is capable of converting
signals such as smoke density and temperature into mathematical values,
which will make the detection of fire extremely fast as compared to
traditional fire detection devices.
- In May 2022, Robert Bosch GmbH launched the
Smoke detector II series which is a smart Fire safety equipment that sends
the notification of smoke detection directly to the user’s mobile phones
and notifies the quickest and safest escape routes.
3. The
Ease of Lockdowns and Reopening of Businesses is Creating New Opportunities for
The Fire Safety Equipment Market
During the COVID-19 pandemic, the
global fire safety equipment market was severely affected due to disruption in
the supply chain as transport was completely shut down as per government norms
for lockdown.
- However, with the uplifting of lockdowns and
reopening of offices, businesses, schools, and colleges the fire safety
equipment market is expected to show some growth as these buildings have
been closed for months.
- Thus, a detailed inspection of the fire safety
systems must be performed prior to reoccupying them as well as changing
the faulty fire systems with new advanced systems, and providing complete
training to the employees regarding fire safety systems and efficient
evacuation during possible fire outbreaks as they have spent longer time
away from the establishments.
Increased
Government Initiatives in the Fire Safety Equipment Market are creating new
opportunities for the Companies in the Market
- In June 2017, Wales became the first country
in the world to establish fire suppression water sprinklers in all
households, although the decision is said to be cost ineffective, it holds
significant importance due to the infamous incident of the Grenfell Tower
fire in London which led to the death toll close to 80 People.
- United States Fire Administration (FEMA)
provides a fire relief fund called FEMA grant which is available for
pre-and post-emergency during disaster-related projects. These funds will
help survivors to support critical recovery initiatives, innovative
research, and many other programs. Grants are the principal funding used
by FEMA for a specific state, local, tribal areas, territories, and more.
For More
Information, refer to below link:-
Global Fire
Safety Equipment Manufacturers
Related Report
Contact Us:-
Ken
Research
Ankur
Gupta, Head Marketing & Communications
