The European fire alarm system market is anticipated to exhibit a considerable CAGR of 7.2% during the forecast period. Population growth, demographic changes, and a favorable economic environment are driving high demand for residential buildings. According to DIW Berlin, the German Institute for Economic Research, the construction volume in Germany was around $510 billion in 2019. Of these, around 57.0% was generated from residential, 29.0% from commercial and 14.0% from public infrastructure. And these numbers are expected to increase in the future, owing to the growing population and rising number of immigrants.
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The growing adoption of fire alarm systems in commercial, industrial, and residential buildings owing to the increasing stringency in the fire safety regulations is anticipated to drive the regional growth of the fire alarm system market. In the EU it is mandatory to adopt all fire preventive measures to get insurance coverage for buildings. Therefore, the growing building insurance proposals are supporting the growth of the fire alarm system market in the European region.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
European Fire Alarm system Market Report Segment
By Product
- Conventional Fire Alarm System
- Addressable Fire Alarm System
By Application
- Commercial
- Industrial
- Residential
European Fire Alarm System Market Report Segment by Region
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
The Report Covers
- Comprehensive research methodology of the European fire alarm system market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the European fire alarm system market.
- Insights about market determinants that are stimulating the European fire alarm system market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Profiles and recent developments of market players.
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