The European fire alarm system market is anticipated to exhibit a CAGR of 7.2% 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. Construction Products Regulation (CPR) is a regulation that harmonized the conditions for the marketing of construction products and replaces the Construction Products Directive. The CPR was introduced to save lives, inhibit fires, and minimizing the consequential damages.
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Also, the rising fire incidences are increasing the demand for installation of the fire prevention products such as fire alarm systems. In Europe, domestic fire safety is a concern for governments. As per the CTIF (International Association of Fire and Rescue Services), around 2.0-2.5 million fires are reported every year, resulting in 20,000 – 25,000 fire deaths and 250,000 – 500,000 fire injuries in Europe. Among these fatalities, around 80.0% have occurred in private homes. To prevent fire incidences, CPR has covered fire safety regulations for residential buildings concerning the constructional fire safety, which is contributing to the fire alarm system market.
Market Coverage
- The market number available for – 2019-2026-
- Base year- 2019
- Forecast period- 2019-2026
- Segment Covered- By Product Type, Application
- Competitive Landscape- ADT, LLC, Halma plc, Honeywell International, Inc., Johnson Controls International plc, Robert Bosch GmbH, and United Technologies Corp
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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?
European 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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