Fire Alarm Equipment: A Global Strategic Business Report
San Jose, CA (Vocus) September 27, 2010
The worldwide economic recession impacted the fire alarm equipment market, as demand for fire alarm products dropped noticeably during 2008 and 2009. Fire alarm equipment market draws a significant portion of the demand from new constructions and a steep fall in new construction activity during the recession period, especially in developed economies, derailed market growth. The scenario prompted growth in retrofit fire equipment that showed noticeable growth during 2008 and 2009. Going forwards, significantly higher demand for fire alarm equipment in Asia-Pacific, Latin American and Eastern European countries is expected to fuel market growth in the coming years.
Europe represents the largest regional market for fire alarm equipment worldwide, as stated by the new market research report on Fire Alarm Equipment. In terms of growth, Asia-Pacific is portended to register fastest growth for fire alarm equipment. The region is forecast to flaunt a CAGR of more than 7.0% over the analysis period. Robust growth in construction activity and new fire detection standards are likely to hold the key for the growth of fire alarm equipment in the region.
Fire Alarm Panels constitutes the largest product group of fire alarm equipment market. Addressable Panels represents the largest product segment, while Voice Evacuation Systems represents the fastest growing segment in the fire alarm equipment market. Fire Alarm Devices, the other product group in the fire alarm equipment market, is poised to register a CAGR of more than 5.0% over the analysis period.
A significant part of the demand for fire alarm systems stems from building renovation activity. Moreover, many buildings that were constructed prior to revised building codes have no alarm systems. Thus, building renovation represents a huge potential for fire alarm equipment market growth. Demand for fire alarm equipment is highly price elastic, forcing manufacturers to produce high quality products and offer them at low prices. While established majors can manage price pressures by offsetting lower earnings through products that provide higher profits, small players would face challenges to remain competitive. Using an ideal mix of mechanism is likely to trim down production costs and offer products at reduced prices.
Major players profiled in the report include Bosch Security Systems Inc., Cooper Wheelock, Fenwal Controls of Japan Ltd., GE Security Inc., Gentex Corporation, Hochiki Corporation, Hochiki America Corporation, Honeywell Security & Communications, Panasonic Corporation, Napco Security Company Inc., Nittan Company Limited, Nohmi Bosai Ltd., RSG/Aames Security Inc., Siemens Building Technologies Group, Signal Communications Corporation, Space Age Electronics Inc., Spectronics Corporation, Tyco Fire & Security Inc., SimplexGrinnell LP, ADT Security Services Inc., and WSA Fire Systems.
The report titled “Fire Alarm Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the fire alarm equipment markets, impact of recession on the markets, current market trends, key growth drivers, competitive scenario, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for fire alarm equipment market for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key product segments analyzed include Fire Alarm Panels (Conventional Panels, Addressable Panels, and Voice Evacuation Systems); and Fire Alarm Devices (Annunciators, Notification Devices, and Manual Pull Stations). Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Fire_Alarm_Equipment_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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