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.
- 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.
- 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.
- 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.
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Global Fire Safety Equipment Manufacturers
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Ankur Gupta, Head Marketing & Communications
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