Stringent Building Safety Norms and Demand from Developing Countries Drives the Fire Alarm Equipment Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Fire Alarm Equipment markets. The global Fire Alarm Equipment market is projected to reach US$4.4 billion by the year 2018, driven primarily by the need to comply with the strict building safety regulations in place and the growing demand from burgeoning developing economies across the globe. Continued development of efficient and cost-effective solutions also bodes well for the future of this market.

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Fire Alarm Equipment: A Global Strategic Business Report

San Jose, California (PRWEB) October 23, 2012

Follow us on LinkedIn – With safety and security assuming critical significance against a backdrop of rising violence in today’s world, electronic security systems such as fire alarm equipment, CCTV/Video surveillance equipment, and access control systems, among others, are fast becoming an integral part of building infrastructure worldwide. The fire alarms market especially has been witnessing incremental feature innovations over the years and new generation systems currently feature better efficiency, lesser false alarms, and faster response times. Multi-sensors that integrate a variety of detection tools in a solitary logic head, and application dependent detectors have emerged as preferred technologies for quicker response and improved resistance to false alarms. Several developments and introductions have taken place in remote screening and diagnostics that offer better features such as distributed intelligence and superior surveillance. A number of manufacturers are also shifting to multi-criterion detectors such as smoke detectors and are incorporating CO as an important fire component. In addition, increasing opportunities and new developments in the CO detectors is also driving the growth as hotels, schools, nursing homes and other buildings are installing and upgrading carbon monoxide detectors to implement novel NFPA 720-2009 CO detection standards.

Growth in the global fire alarm equipment market will stem largely from the need to comply with the stringent building security norms stipulated in respective countries. Several countries, especially the developed economies such as the US, Europe and Japan, stipulate strict norms for commercial, manufacturing site, residential, educational and entertainment buildings thereby fueling the demand for fire alarm equipment. Additionally, the market is poised to benefit from the retrofit demand emanating from existing buildings that replace the obsolete systems in the process of complying with the newer regulations. Also driving growth in the market is the growing demand from developing economies across the world. Characterized by burgeoning economies, increasing foreign investments, rise in the number of new business establishments, increase in employment opportunities, household income, and subsequent rise in residential and commercial building constructions, Asia-Pacific in general is witnessing increased adoption of fire alarm equipment. The Asia-Pacific market will receive further impetus from the large population base in India and China, which will propel demand for new constructions, thus driving adoption of fire alarm equipment.

While the market in major countries across the globe witness steady growth, Europe is mired in new challenges. Economic activity across the European Union has been fairly volatile all through the year 2011 and the Euro plunged to its lowest point in over two years in mid-2012. The downward spiral of the Euro crisis has triggered volatility in the housing and construction markets in the region primarily because of the austerity measures that limit public expenditure and financing for infrastructure projects. Consequently, the market for fire alarm equipment is witnessing dampened growth reflecting the sharp decline in construction activity in the region. However, the relatively less steep declines in non-residential renovations, provides a ray of hope for the fire alarm equipment market. Key reasons cited for the better performance of the renovations sector is the EU Government’s emphasis on green and energy efficient buildings. As sustainable constructions emerge to represent the domestic construction industry’s new future, the flurry of renovations is poised to benefit the fire alarm equipment market.

As stated by the new market research report on Fire Alarm Equipment, Europe represents the largest regional market worldwide. Asia-Pacific region emerges as the fastest growing regional market with the revenues from the region projected to wax at a CAGR of 6.9% over the analysis period. Among the product segments, Fire Alarm Panels represents the largest product segment, while Fire Alarm Devices is the fastest growing product segment.

Major players profiled in the report Bosch Security Systems, Inc., Cooper Safety Inc., Fenwal Controls of Japan Ltd., Gentex Corporation, Hochiki Corporation, Hochiki America Corporation, Honeywell International Inc., Napco Security Technologies, Inc., Nittan Co. Ltd., Nohmi Bosai Ltd., Panasonic Electric Works Co., Ltd., Panasonic Eco-Solutions, Nordic AB, Siemens Building Technologies Group, Space Age Electronics, Inc., Tyco Fire & Security Inc., ADT Security Services, Plc., United Technologies Corporation, and UTC Fire & Security.

The research 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 (France, Germany, Italy, UK, Spain, Russia and Rest of 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).

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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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