In 2020, the global fire safety equipment revenue declined by 28.7% due to the pandemic. Cancellation and postponement of construction and inauguration of new buildings drastically reduced the revenue from new fire safety equipment installations. Nonetheless, building construction projects largely resumed in 2021, and global economic recovery led to a moderate 2.5% growth in the fire safety equipment market in 2021. By 2027, fire safety equipment revenue is expected to exceed $10 billion.
Fire safety equipment includes fire detection and fire suppression systems. These systems help prevent personal and material damage from fire. They are installed as part of buildings to detect combustion or any unwanted presence of fire byproducts, such as heat and smoke, alert building occupants in an emergency, and prevent the spread of fire in the event of a fire incident in a facility. The fire detection segment includes sensors that detect and alarms that warn against fire, while the fire suppression segment includes water-based, gas-based, and foam fire extinguishing systems. This study categorizes end users as commercial, industrial, government, education, and others. It excludes portable fire extinguishers of all types, fire hydrants, hose reels, hoses, piping systems, fire doors, fire curtains, personal protective equipment, emergency lighting, and all other ancillary fire safety equipment.
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