United Kingdom Fire Detection System Market to Grow at a CAGR of 6.34% through 2027F
Increasing urbanization and smart city adoption by the UK
cities are driving the growth of United Kingdom Fire Detection System Market in
the forecast period, 2023F-2027F.
According
to TechSci Research report, “United Kingdom Fire Detection System Market Segmented By Type
(Alarms, Detectors and Display Panels), By End User (Industrial, Commercial,
Residential and Others {Airport, Railway Station}), By Region, Competition Forecast &
Opportunities, 2017-2027”,
the United Kingdom fire detection system market is anticipated to grow at a
CAGR of 6.34% from 2022E-2027F, to reach USD1483.90 million by 2027F. Ongoing
industrialization and urbanization and the high-end investments for the
development of advanced fire detection systems are the key factors driving the
growth of the United Kingdom fire detection system market.
Rapid
urbanization is fueling the need to construct residential, commercial, and
industrial buildings to accommodate the needs of the growing population in the
cities. Construction of standard buildings requires the set-up of an advanced
fire detection system to provide a quality experience to its residents. Also,
government authorities are launching initiatives to transform the real-estate
infrastructure into sustainable and energy-efficient buildings. European
Commission has introduced a mission to achieve net-zero emission in buildings
by 2030, which is expected to significantly impact the growth of the United
Kingdom fire detection market. The government is focusing on developing
greenfield projects and investing in upgrading the existing infrastructure into
an advanced system.
The
commencement of Industry 4.0 due to the rapid adoption of advanced technologies
and the need to increase productivity without fueling maintenance and operation
costs is expected to accelerate the construction activities in the United
Kingdom. With the growing industrial development, the demand for fire detection
systems is expected to accelerate in the forecast period.
However,
the high installation cost of fire detection systems may restrain the market
growth in the forecast period.
Browse over 21 market data Figures spread through 92 Pages and an in-depth TOC on "United
Kingdom Fire Detection System Market"
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United Kingdom fire detection system
market is segmented into type, end user, company, and regional distribution.
Based on the end user, the market is
divided into industrial, commercial, residential, and others. Commercial sector
dominated the market in 2021, with a market share of 38.87%, and are expected
to maintain their dominance throughout the forecast period, 2023-2027.
Commercial buildings of prominent industry verticals, including BFSI, retail,
healthcare, telecommunication, educational institutions, and other buildings are
actively installing fire detection systems as a preventive measure. Owners of
the buildings prefer to install a fire detection system to avoid the loss of
finance, life, and property and secure the infrastructure from getting affected
by the fire. With the boost in the economic activity and the support from the
government, construction of commercial buildings is expected to grow at a rapid
rate which is expected to create lucrative growth opportunities for the United
Kingdom fire detection market in the forecast period.
On the basis of regional distribution,
England led the market in 2021 by capturing a market share of 84.76% and is
also expected to hold the largest market share for the next five years. The
construction of new buildings and other properties fuel the demand for fire
detection systems. Also, strict government regulations emphasizing the need to
ensure the safety of building residents influence the high sales of fire
detection systems.
Major market players operating in the United
Kingdom fire detection system market are:
- Halma plc
- Hochiki Europe (UK) Ltd
- Johnson Controls UK&I
- Nittan Europe Limited
- Siemen’s plc
- Eaton Corporation plc
- Honeywell International Inc
- Bosch UK Holdings Ltd
- Gentex Corporation
- SDS Security Ltd
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“The United Kingdom is witnessing a
digital revolution by making high-end investments and launching plans focusing
on the construction of smart cities in the country. Glasgow, Birmingham,
Belfast, Hull, Bristol, London, Milton Keynes, Manchester, Peterborough are
some of the cities undergoing transforming and adopting advanced technologies
to enhance the quality of life of people. The buildings in these cities have
higher efficiency and safety as they use real-time data to provide quality
service to residents and are equipped with quality products. With the growing
construction of smart buildings, the demand for advanced fire detection systems
is expected to grow due to their life-saving properties. The rise in the number
of advanced facilities and expanding expenditure capacity of consumers is
expected to propel the United Kingdom fire detection system market growth till
2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“United Kingdom Fire Detection System Market
Segmented by Type (Alarms, Detectors and Display Panels), By End User
(Industrial, Commercial, Residential and Others {Airport, Railway Station}), By
Region, Competition Forecast & Opportunities, 2017-2027”, has evaluated the future
growth potential of United Kingdom fire detection system market and provides
statistics & information on market size, structure, and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United Kingdom fire detection system market.
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