The Indian fire alarm system market is anticipated to exhibit a considerable CAGR of 8.0% during the forecast period. Fire alarm systems are in high demand in the country, owing to proper implementation of state and national policies and building codes to improve fire safety, educational campaigns focusing on smoke detectors, and behavioral changes such as the gradual decline in smoking rates. According to the India Brand Equity Foundation, India is anticipated to become the third-largest construction market across the globe by 2022. For this, the country will create the demand for nearly $777.73 billion investment in infrastructure development by 2022. The construction industry in India accounts for nearly 9% of the country’s GDP and contributes to the national economy by offering employment to a large population base. 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 growth of the fire alarm system market in India.
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The fire alarm system market is segmented based on products and applications. Based on product, the fire alarm system market is segmented into the conventional fire alarm system and addressable fire alarm system. Based on application, the market is segmented into commercial, industrial, and residential. The compulsion of installing fire safety systems in commercial buildings for purpose of getting insurance is anticipated to drive the growth of this market segment.
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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
Indian Fire Alarm system Market report Segment
By Product
- Conventional Fire Alarm System
- Addressable Fire Alarm System
By Application
- Commercial
- Industrial
- Residential
The Report Covers
- Comprehensive research methodology of the Indian 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 Indian fire alarm system market.
- Insights about market determinants that are stimulating the Indian 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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