Editor, IFSEC Global

Author Bio ▼

James Moore is the Editor of IFSEC Global, the leading online publication for security and fire news in the industry. James writes, commissions, edits and produces content for IFSEC Global, including articles, breaking news stories and exclusive industry reports. He liaises and speaks with leading industry figures, vendors and associations to ensure security and fire professionals remain abreast of all the latest developments in the sector.
September 2, 2022

Sign up to free email newsletters

Download

The Video Surveillance Report 2022

Omdia reports global fire detection and suppression market worth $8.3 billion as end-users embrace intelligent and connected systems

In its latest report, Omdia has estimated the global fire detection and suppression market to be worth $8.3 billion, with the UK and Ireland market accounting for around $560 million of this. IFSEC Global details the key findings from the research analyst’s 2022 Fire Detection and Suppression Equipment Report.

FireAlarm-AdobeStock-22The market grew to a higher-degree than expected, say analysts, as it is predicted to grow at CAGR of 5.4% from 2021 to 2026. Fire detection equipment represented $5.2 billion of the market, while fire suppression equipment made up the remaining $3.1 billion in 2021.

Growth was higher chiefly due to significant amounts of pent-up demand following the pandemic, and was in-line with the regional construction market growth during the same period. Average selling prices of equipment were also estimated to have increased by 1.6% from 2019 to 2021 – in part due to global supply chain disruption and ongoing component and material shortages.

Notification devices are the fastest growing detection product, predicted to grow at a CAGR of 6.7% between 2021 and 2026. Analysts believe this is driven by demand for addressable devices, due to their installation benefits, while LED technology in the equipment enables them to operate at lower current levels, enabling end users to install additional devices on their systems while reducing installation and maintenance costs.

The UK and Ireland market accounted for 19% of the EMEA fire detection and suppression market in 2021, at an estimate of $560 million, and is expected to see similar growth rates to the global predicted, at a CAGR of 5.3% between 2021 and 2026. The market rebounded from 2020 by growing at 8% between 2020 and 2021, with education, healthcare and manufacturing & industrial the top three fastest-growing verticals for fire detection equipment.

End-users beginning to embrace digital and connected solutions

Several trends and market drivers were picked up on by the Omdia analyst team in the research. Notably, it was found that end users are becoming more open to acquiring increasingly intelligent systems, for myriad reasons.

In less regulated landscapes, for instance, cost-effective systems can replace outdated legacy equipment, and the pandemic has accelerated the adoption by system integrators of digital products and solutions. The report reflects trends in the UK market, where industry bodies such as the Fire Industry Association (FIA) have embraced the discussion around fire safety solutions with IoT capabilities, that end users are starting to ask for equipment with connectivity capabilities, “opening the door to the potential benefits of digital applications”.

Analysts also noted the impact of legislation across the market – though heavily dependent on region. For example, with delayed standards such as UL 268 7th Ed impacting on new designs, and also opening the door for more European suppliers in the Americas market, where cheaper EN-54-certified systems “already pass many of the UL 268 requirements”.

The regulatory landscape in the Asia and Oceania region remains complicated, with a mixture of mature and immature markets with varying levels of code enforcement.

Vertical demand has also shifted from retail and office spaces to the industrial sectors such as manufacturing and logistics, found the report. As online consumer spending accelerates and remote working practices continue, analysts expect increasing demand for additional warehouses, logistics centres and data centres.

Find out how to access the full report from Omdia, which includes information about technology trends, legislation changes, construction forecasts, economic breakdowns, market shares and more, here.

 

Fire Safety in 2021 eBook – Is the industry ready to embrace systemic change?

Download the Fire Safety in 2021 eBook, as IFSEC Global and FIREX International keep you up to date with the biggest stories of the year, including new legislation, a round-up of the biggest news stories, and articles on third-party certification and the role of digital information software in meeting golden thread principles.

The eBook also features an exclusive foreword from the Fire Industry Association's Ian Moore, and a look at how the sector embraces systemic change in attitudes to risk and safety.

Related Topics

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments