Portland, OR -- (SBWire) -- 07/07/2017 --North America Fire Protection Systems Market was valued at $11,959 million in 2015 and is expected to garner $24,117 million by 2022, registering a CAGR of 9.8% during the forecast period 2016 - 2022.
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Fire protection systems are used to suppress & control fire with the help of manual and automatic detectors. Fire protection systems comprises various components or products, such as fire detection systems, fire management systems, fire response systems, and fire analysis & software.
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North America Fire Protection Systems Market Segmentation:
The North American fire protection system market report is segmented on the basis of product, services, industry vertical, and country. Based on product, it is classified into fire detection systems, fire management systems, fire response systems, fire analysis & software, and others. By services, it is bifurcated into consulting & design services and installation & maintenance services. Based on industry vertical, it is categorized into Banking, Finance, and Insurance (BFSI); automotive & transport; manufacturing; energy & power; healthcare; and oil & gas and mining. The North American market is further analyzed across countries into U.S., Canada, and Mexico.
Factors Driving the Market:
Strict government regulations and infrastructural developments drive the market for North American fire protection system. As multistory, high-rise buildings are in need for fire protection systems, thus strict fire & safety codes are implemented to minimize the risk and losses that are expected by fire explosion. U.S. and Canada have witnessed major infrastructural developments, owing to the high population growth rate in these regions.
Key Players of Market:
Key players profiled in the North America fire protection systems study are Honeywell International Inc., Johnson Controls, Inc., Siemens AG, Orcus Fire & Risk, Inc., Halma PLC., Robert Bosch GmbH, United Technologies Corporation, Amerex Corporation, Gentex Corporation, and HOCHIKI Corporation. The report discusses the key strategies adopted by these companies with the fire protection system trends, upcoming opportunities, and restraints in the market growth, and detailed information about their impacts.
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North America Fire Protection Systems Market : Global Opportunities and Forecast 2022