The Asia-Pacific fire alarm system market is anticipated to exhibit a considerable CAGR of 7.9% during the forecast period. Presence of strict laws and regulations related to fire safety is a key factor contributing to the demand for the fire alarm system market in the region. China is one of the major countries that significantly invest in infrastructure projects, which results in the development of commercial and domestic buildings in the country. China is a highly populated country which increases the challenges of insufficient availability of land and thereby supporting the construction of tallest buildings. As per the World Bank, 59.2% of the total population in China lives in urban areas. By 2050, it is projected that the country will have added 255 million urban dwellers (as per the United Nations). The significant rise in the population is expected to make huge contribution towards the demand for infrastructure development. The infrastructure development is expected to promote the for fire alarm system as a preventive measure to get safety from fire mishaps.
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The fire alarm system market is segmented on the basis of products and application. Based on product, the fire alarm system market is segmented into 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 the commercial buildings for purpose of getting insurance is anticipated to drive the growth of this market segment.
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Asia-Pacific Fire Alarm System Market Segmentation
By Product
- Conventional Fire Alarm System
- Addressable Fire Alarm System
By Application
- Commercial
- Industrial
- Residential
Regional Analysis
- China
- India
- Japan
Rest of Asia-Pacific
Company Profiles
- ADT, LLC
- Eaton Corp.
- Fenwal Controls of Japan, Ltd.
- Fike Corp.
- Gentex Corp.
- Halma plc
- Hochiki Corp.
- Honeywell International, Inc.
- Johnson Controls International plc
- Panasonic Corp.
- Robert Bosch GmbH
- Siemens AG
- United Technologies Corp.
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