The Asia-Pacific Fire Alarm System Market is anticipated to exhibit a CAGR of 7.9% during the forecast period. The presence of stringent government regulations regarding the use of fire safety appliances in the residential, commercial, and industrial buildings is anticipated to drive the regional growth of the market. Article 24 of the Fire Protection Law of the People’s Republic of China specifies that the products for fire protection shall meet the national standards; where there are no such standards to go by, they shall meet the industrial standards.
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It is prohibited to produce, sell, or use products for fire protection that are not up to standards or that are eliminated by the official order of the State. The presence of such rules and regulation in the country encourage the fire alarm system manufacturers to manufacture the fire alarm systems that meet the safety criteria. China is the major contributor to the high growth of the Fire Alarm System Market in the Asia-Pacific region. Moreover, the developing construction industry of the major economies of Asia-Pacific such as India, China, Japan, and Singapore among others is creating for such systems in the region as safety prevention from fire mishaps.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2019-2026
- Segment Covered- By Product Type, Application
- Competitive Landscape- Eaton Corp., Gentex Corp., United Technologies Corp., Hochiki Corp., Honeywell International Inc., Johnson Controls International plc
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Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Fire Alarm System Market Report Segment
By Product
- Conventional Fire Alarm System
- Addressable Fire Alarm System
By Application
- Commercial
- Industrial
- Residential
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