India Fire Safety Equipment Market Outlook, 2027-28
Fire is one of the most frequently occurring disasters in India. The country has been the victim of fire incidents numerous times across many regions. The tier-1 and tier-2 areas, along with the factories and industries, are extremely vulnerable to fire. The excessive number of deaths in the nation is due to fire threats. The occurrence of fire hazards has become an area of concern for both developed and developing nations. Most of these fire incidents are caused by a lack of safety equipment and training to arrest the fire in time. According to official figures, over 1,30,000 people were killed by fire in India between 2010 and 2015. That’s an alarming average of 60 people every single day, with building fires being the worst culprit. Over the same period, fire caused almost 3,000 million rupees of property damage. In 2021, India sadly recorded around 1.6 million fire accidents, with more than 27,000 innocent lives lost. Therefore, in India, the Fire and Security Association of India and the National Disaster Management Authority (NDMA) are taking many crucial steps towards the prevention of such incidents.
According to the report title, India Fire Safety Equipment Market, 2027–28, the market in India is anticipated to grow at a CAGR of more than 14% in value terms during the forecast period. The fire safety equipment market is segregated into three major parts, i.e., firefighting equipment, fire alarm and detection equipment, and fire protection equipment. By application, the market is segmented into commercial, industrial, and residential parts. The penetration of fire safety equipment in the industrial sector is low as compared to other sectors in India. According to Bonafide Research, the residential sector is likely to grow at a higher CAGR in forecast periods.
Fire tragedies have been on the rise in recent years across the nation, and Mumbai remains a major contributor to this statistic. Following the Kamala Mills tragedy, several commercial buildings, restaurants, and bars are yet to comply with fire safety norms and take proactive measures to prevent fires of such magnitude. Fire is now ranked as the third biggest threat to business in India, according to the Federation of Indian Chambers of Commerce and Industry and the Indian Readership Survey. India is witnessing a substantial increase in terms of awareness about fire safety. The rapidly growing demand for fire protection equipment and technologies across the country has significantly contributed towards the growth of the fire and safety equipment domains.
By product, the firefighting equipment market is segregated into two major parts. The first is the fire extinguisher, which contains dry chemicals (powder), foam, and carbon dioxide in various types; the second is the fire hydrant and sprinkler system. Fire hydrant and sprinkler systems are leading the market with more than half of the market share. The fire alarm and fire detection market is segregated into products such as fire alarms and fire detection. The use of fire safety equipment is increasing all the time, with corporations and commercial entities recently emphasizing fire safety and security. Several state governments have now made it obligatory for commercial inception to ensure proper compliance with fire safety norms. By region, the south region has the highest market share compared to the east region, which has the lowest market share in the fire safety equipment market.
The stringent regulations to install fire protection systems are expected to influence the fire protection systems market growth positively in India. The governments of various countries across the Asia-Pacific region are also planning to adopt model building codes that would require the installation of fire sprinklers in new homes. The installation of fire protection systems is one of the most effective ways to reduce the loss of life and property. This, in turn, is driving the growth of the fire protection systems market in India. However, the high cost of purchase and maintenance will be a major challenge for the fire protection systems market vendors in India during the forecast period. Building retrofits are designed to provide maximum protection with minimal interruption to work schedules, tenants, or staff. This raises the cost incurred on retrofit and replacement of fire protection systems. The issues associated with retrofits in existing buildings affect the growth of the fire protection systems market in India.
With the escalation of competition as a result of the entry of small domestic players as well as large multinational firms into the market, innovation and product differentiation are going to be of primary importance over the next few years. The future of fire safety in India, therefore, rests on establishing and implementing global best practices; generating awareness about the need for fire prevention measures; addressing the disconnect that exists among policymakers, citizens, and private entities; and establishing strong public-private partnerships. Many companies are involved in the Indian market; some of the prominent companies are Honeywell Automation India Limited, Siemens India, Ceasefire Industries Limited, Safex Fire Service Limited, and New Age Fire Protection Industries Pvt. Ltd.
COVID-19 has affected every aspect of life worldwide. In India, the COVID-19 lockdown has negatively affected the market. Several manufacturers and suppliers in the fire protection systems industry depend on imports for their raw materials. Government restrictions on movement and transport have halted all logistics operations across the globe, thus causing difficulties with their supply chain. This has led to various changes in market conditions. Due to the pandemic situation, expected growth in the fire and safety equipment market has not been achieved as per the target. The market has measured a downfall in value terms. However, in the forecasted period, it is anticipated to grow at a higher CAGR owing to increasing awareness across the country.
Considered in this report
• Geography: India
• Base year: 2021-22
• Estimated year: 2022-23
• Forecast year: 2027-28
Aspects covered in this report
• India Fire Safety market with its value and forecast along with its segments
• Region-wise India Fire Safety market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Regions covered in the report
Types of Fire Safety in the report
• Fire Fighting Equipment
• Fire Alarm & Detection Equipment
• Fire Protection Equipment
Major Companies in Fire Safety market
Ceasefire Industries Limited, Safex Fire Services Limited, Utc Fire & Security India Limited, Siemens India, Honeywell Automation India Limited, Udyogi, International Private Limited, New Age Fire Protection Industries Private Limited, HD Fire Protect Private Limited., Reliance Fire And Safety Limited, Usha Fire Safety Equipments (P) Limited, Kanadia, Fyr Fyter Private Limited, Safepro Fire Services Private Limited.
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Fire Safety industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
“India Fire Safety Market Outlook, 2027-28” discusses the following aspects of Fire Safety Market in India:
How it will help solving your strategic decision making process??
The report gives an in-depth understanding of Fire Safety in India:
- India Fire Safety Equipment Market Outlook
- India Fire Safety Equipment Market Size by Value
- India Fire Safety Equipment by Company
- India Fire Safety Equipment By Segment (Fighting, Alarm & Detection, Protection)
- India Fire Safety Equipment By Sector (Organized & Unorganized)
- India Fire Safety Equipment By Application (Commercial, Industrial, Residential)
- India Fire Safety Equipment By Region
- India Fire Fighting Equipment Market Size, Share & Forecast
- India Fire Fighting Equipment Market Size By Value
- India Fire Fighting Equipment Market Share By Product
- India Fire Alarm & Detection Equipment Market Outlook
- India Fire Alarm & Detection Equipment Market Size By Value
- India Fire Alarm & Detection Equipment Market Share By Product
- India Fire Protection Market Size & Forecast
- India Fire Protection Market Size By Value
- India Fire Protection Market Share By Product
- Product Portfolio By Company
- The key vendors in this market space
This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various manufacturers of wind turbines in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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