The global fire detection equipment market size is expected to grow from USD $6.78 billion in 2021 to $7.72 billion in 2022 at a compound annual growth rate (CAGR) of 13.9%.

The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.

The fire detection equipment market is expected to reach $12.46 billion in 2026 at a CAGR of 12.7%.

Government regulations and mandates on fire detection measures contribute to the fire detection equipment market’s growth. Globally, different government agencies have implemented various laws regarding the installation of fire safety equipment in organizations to ensure employees’ safety.

High installation and maintenance cost may negatively impact the sales of fire detection equipment as the initial investment in installing a fire detection system includes the cost of equipment, installation, and subscription of security monitoring services.

In addition to that, along with maintenance cost makes the use of fire detection systems an expensive affair, potentially hampering the fire detection equipment market’s growth.

Major players in the fire detection equipment market are Johnson Controls, Honeywell International, United Technologies, Siemens, Halma, Gentex, Robert Bosch, Hochiki, Securiton AG, Encore Fire Protection, Sterling Safety Systems, Fire Suppression Limited, Schrack Seconet AG, Napco security technologies, VFP Fire Systems, Siemens AG, Emerson Electric Co., Bosch Security Systems, Tyco International Limited, Spectrex, Inc., Johnson Controls, General Monitors, Inc., Fire Suppression Limited, Schrack Seconet AG, Napco security technologies and VFP Fire Systems.

North America was the largest region in the fire detection equipment market in 2021. Asia pacific was the second largest region in the fire detection equipment market. The regions covered in the fire detection market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.