Fire Protection System Market Share

North America Market Analysis

North America is expected to dominate the revenue share during the forecast period after registering a 35.6% fire protection system market share in 2024. The growth in North America is due to technological innovations, strict fire safety regulations, a rise in smart buildings, and the continued adoption of modern fire safety techniques. The public awareness of fire safety in the region is also rapidly increasing contributing to the demand for advanced fire protection systems

In the U.S., the fire protection system market is poised to grow rapidly during the forecast period. The market growth is attributed to the enforcement of fire safety codes, the increase in commercial and industrial spaces requiring fire protection, rising public awareness of fire safety, and growing cases of fire hazards. In November 2023, the National Fire Protection Association (NFPA) published a report estimating 1.5 million fires in the U.S. in 2022 leading to property damages worth USD 18 billion.

The U.S. Fire Administration estimated a 21% increase in monetary loss due to fire-related causes from 2013 to 2022 and 374,300 cases of residential fires in 2022. Such fire hazards contribute to the demand for advanced fire protection systems in the region boosting the market growth. Additionally, Research Nester estimated the number of smart homes in the U.S. to increase by more than 60% from 2023 to 2028, leading to a hefty surge in demand for fire protection systems.

Canada is a significant contributor to the fire protection system market in North America. This growth can be due to the rising cases of fire incidents and large-scale wildfires leading to demands for advanced fire protection solutions. Canada also has a strong commercial and industrial sector where the demand for the installation of advanced fire protection systems is high. In August 2023, the government released data stating an increase of 2700 fire hazard incidents during the pandemic. In 2021, structural fires accounted for 42% of fire hazard incidents in Canada. The most significant driver for market growth is the wildfire-related losses in the country as the government reported a loss of 15 million hectares of land due to the massive wildfire in 2023. Novel solutions to combat forest fires to minimize damage through advanced fire detection and fire suppression technologies are poised to increase the market growth.

APAC Market Analysis

Asia Pacific fire protection system market is poised to witness significant growth in revenue share during the forecast period due to the presence of rapidly emerging economies such as India, China, Japan, South Korea, etc. A key driver in the region is the high population density leading to increased fire hazards and the need for advanced fire protection systems. The rapid urbanization across this region leading to a surge in residential, commercial, and industrial spaces contributes to greater requirements for fire safety solutions.

In India, rapid urbanization and a high population density are pushing the fire protection system market growth. National Crime Records Bureau (NCRB) data highlights 4028 incidents of residential fires in India in 2022 with cases concentrated over densely populated areas. Additionally, there has been a growing push to revamp the fire protection system in India to cater to areas with a high density of residential and commercial spaces. In July 2023, the government launched a scheme for the expansion and modernization of fire services in the states of India. Rising government investments in the sector coupled with increasing demands for residential and commercial spaces with fire safety systems are projected to boost the market growth steadily.

China is poised to have rapid market growth in the sector owing to high population density, increasing cases of fire-related accidents, technological advancements, and increasing urbanization. The National Fire and Rescue Administration reported that there was a 19% increase in fire-related accidents in 2023 between January to May. The trend in manufacturers is to release advanced fire protection systems to meet the burgeoning demands in the region. For instance, in September 2023, Dahua Technology reported the use of a fire analysis solution to increase the efficiency of fire alarm response by 30%. 

Japan is projected to see a boom in the revenue share owing to rising demands for advanced fire protection solutions. Japan has stringent fire safety regulations owing to the country being prone to earthquakes and an increasing number of smart homes installed with advanced fire protection systems. A report by the Tokyo Fire Department stated that 91.3% of fire-related checks conducted by the department in 2023 were due to early alerts released by smoke and fire alarm systems. The success rate of fire protection systems in the country is projected to fuel the demand for fire protection systems. Another key driver is the rate of forest fires in the country requiring advanced fire safety solutions.