Published on : Jan 01, 2020
ResearchMoz.us has announced the addition of a report, titled “Global Fire Equipment Market Insights, Forecast to 2025”. The report on fire equipment market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application. The forecast period of the report is 2019 to 2025. Base year is 2018.
The report provides, a comprehensive analysis of notable developments in the market landscape such as expansions, agreements and product launches. It also provides insights into production and consumption, details on manufacturers, revenue, and their market share.
By type it is segmented into Conventional Fire Fighting Equipment, Elevating Fire Fighting Equipment, and Special Fire Fighting Equipment. And, by application, report is segmented into Municipal, Industrial, and ARFF.
It is set to chart an impressive CAGR (Compound Annual Growth Rate) over the forecast period of 2019 to 2025. This will manifest itself into a number of worthy opportunities which players will leave no stones unturned to make the most of. Besides, the forecast period will witness rise in market value by a considerable worth.
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One of the key factors driving growth in the market include strict government regulations regarding fire safety, particularly in multi-rise building, public places, and entertainment hubs. Besides, there is witnessed a rising awareness of need to be equipped with fires safety products, preferably the state-of-the-art variants.
There is also a rise of eco-friendly fire suppressants observed, owing to increasing awareness about environment degradation and harmful impact of conventional fire suppressants. To add to this, the rise in artificial intelligence (AI) is also making its mark in the global fire equipment market. Smart fire detection systems are majorly contributing to advancement in the global fire equipment market.
Popularity of smart homes is particularly propelling the market forward where with the proliferation of Internet of Things, remote connectivity to fire safety systems is now a possibility. Besides, building codes in various areas are enforcing fire safety and firefighting measure with much enthusiasm. Even commercial buildings are witnessing strict enforcement and thus rising expenditure in this domain.
The global fire equipment market is fairly segmented and prominent players include the ones mentioned below. These are covered in the report. Moreover, the report gives and in-depth analysis of their strategy, potential, growth trajectories and so on.
The players have a sharp focus on product development as they realize that whoever stays ahead of the product development game will also be at the vanguard of the market share available of the overall growth pie. In order to expand coverage of footprints, may enter into strategic partnerships and collaborations. Some also resort to mergers and acquisitions. It is pertinent to note here that exploring synergies often lead to desirable results.
Region-wise, the report covers the following areas:
The largest chunk of the market growth will be held by North America due to increase in construction volumes in the region, especially in the United States (US) and Canada. Worldwide, the construction industry would see an 85% increase in volumes by 2050, out of which 57% growth will be dominated by China, India and the US. Thus, it should not come as a surprise that these will also contribute in a major way to the growth of global fire equipment market.