Fire Safety Services Market

Fire Safety Services Market Outlook (2023 to 2033)

The global fire safety services market will reach a valuation of US$ 12,248 million in 2023 and expected to progress at a CAGR of 4.6% to reach US$ 19,146 million by the end of 2033.

TIC type of services will value around US$ 8,799 million and it will capture the market share 71.8% by 2023. By capturing 21.1% market share of overall fire safety services market, fire engineering services will value around US$ 2,581 million in 2023.

Report Attributes	Details
Market Size (2022A)	US$ 11,737 million
Estimated Market Value (2023E)	US$ 12,248 million
Forecasted Market Value (2033F)	US$ 19,146 million
Global Market Growth Rate (2023 to 2033)	4.6% CAGR
North America Market Share (2023)	25.8%
North America Market Value (2023)	US$ 3,162 million
East Asia Market Share (2023)	22.7%
East Asia Market Value (2023)	US$ 2,774 million
China Market Share (2023)	14.3%
China Market Value (2023)	US$ 1,749 million
Market Share of Top 3 Countries	44.3%
Key Companies Profiled	Applus+; BRE Europe; Bureau Veritas SA; Convex; DEKRA SE; Element Materials Technology; Geyer Fire; Intertek Group plc; Kiwa NV; Marmic Fire & Safety; NTA, LLC; QIMA; Rina SpA; RISE Research Institutes of Sweden; SGS SA; Southwest Research Institute; TÜV SÜD; UL LLC; VdS Schadenverhütung GmbH; VFS Fire & Security Services and Systems

Sales Analysis of Fire Safety Services (2018 to 2022) Vs. Market Outlook (2023 to 2033)

Over the forecast period, the overall adoption of fire safety services is likely to be driven by spending on new construction and the replacement of outdated fire alarms, sprinklers, and detectors. The demand for fire safety services is being driven by the growing interest in fire testing among valve manufacturers and end users.

The majority of this is as a result of an increasing emphasis on environment and safety. Additionally, the demand for fire safety services is influenced by increasingly stringent safety and environmental requirements. Increased awareness of fire safety systems has led to an increase in fire safety services market share as a result of the rise in fatalities and property damage.

The fire safety service market is growing as a result of government mandates and regulations and the presence of some of the largest fire protection companies. Implementing unified building codes or fire testing standards for all end-user segments in numerous developed and developing nations has increased demand for fire testing systems.

The global market for fire safety services registered a CAGR of 1.9% during its historic period. Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 4.6% CAGR between 2023 and 2033.

Market share analysis of fire safety services market based on services and region is provided in the above image. By services, training & education type of services dominates with 7.1% market share in 2023.

What’s Driving High Demand for Fire Safety Services across Regions?

“Increasing Government Spending on Fire and Rescue Operation Departments”

Governments these days are investing strongly in their fire and rescue agencies in an effort to strengthen them. To improve the infrastructure for rescue operations, money is being given by both governments and the corporate sector.

More people are being hired by governments to receive firefighting training. In Europe, there will be about 262,200 firefighters working in 2020. The European Union's government spent €30.9 billion on fire safety services in 2019. The market for fire safety services will experience exponential expansion in light of such government initiatives.

“Widespread adoption of safety measures by end users and automation of buildings worldwide”

New opportunities for the installation of fire protection systems are predicted to arise with the construction of new residential and commercial structures. For the safety of employees, fire safety services are mostly used in commercial and industrial settings. An increase in the amount of property damage brought on by fire events is another factor driving the business. Additionally, the market for fire prevention systems is impacted by the guidelines, standards, and specifications established by various regulatory bodies.

Organizations are being urged, and increasingly compelled, to install fire safety systems. Fire protection systems are being implemented in all types of buildings as more and more types of end users realize the benefits of fire protection systems. Furthermore, the expertise provided by suppliers in installation and design services is becoming more and more popular. This is driving the demand for installation and design services in the market.

“Investors and Manufacturers are Pursuing Roll-up Strategies”

Investment in research and development activities by prominent manufacturers is increasing in order to develop differentiated products and to mark their footprint across the globe.

The growing R&D spending can have a moderate to high impact on the fire safety services market. Both big businesses and small and medium-sized businesses have taken notice of the introduction of fire safety programs and targeted marketing outlining the advantages of fire protection systems. This factor increases the revenue for the fire protection services market.

What could be the Restraining Factor for Fire Safety Services Market?

“High Installation and Maintenance Costs of Fire Testing Equipment is Limiting Factor”

Increased spending on new construction projects and the replacement of outdated fire alarms, sprinkler systems, and detectors are anticipated to accelerate the uptake of fire safety services as a whole. The market for fire safety services is also expected to experience slow growth because to expensive installation and maintenance expenses.

The longevity, size, use, and type of the structure all affect the price of fire safety services. Fire alarm system installation is generally more expensive in older buildings than it is in modern ones. These are some of the most significant difficulties that fire safety service providers or organizations that test fire sprinklers may encounter during the predicted period.

Country-wise Insights

How Fire Safety Services Market is skyrocketing in United States?

In 2022, North America dominated the market with the valuation of US$ 3,065 million. Due to the quick expansion of commercial and industrial construction, the United States made a substantial contribution to the growth. Regulations and standards for fire safety are strict, which is fostering regional growth

For instance, municipal fire department fire prevention officers in the United States enforce the Fire Code, a model code adopted by local and state governments. Regional development is also being driven by the rapid adoption of cutting-edge technologies and growing concerns about fire safety and security. Thus, the market for fire safety services in United States is anticipated to reach US$ 2,820 million by 2023 and to grow at a CAGR of 3.3% during the anticipated period.

Why is the Chinese Fire Safety Services Market Expected to Be Highly Lucrative?

Over the forecast period, the East Asia region is anticipated to witness the highest CAGR. China’s demand for fire safety services will increase because of factors like the rapid industrialization and urbanization of emerging nations.

Other significant factors that are anticipated to contribute to the growth of the sector in the near future include a high level of production of fire safety equipment and the strong presence of companies that manufacture sensors.

With technological and economic advancements, it is anticipated that the demand for fire protection systems will increase. China's fire safety services market is expected to grow at a CAGR of 6.1% through 2033 due to increased investments and spending on surveillance infrastructure.

Category-wise Insights

Which type of service is expected to surge the market?

TIC segment is likely to dominate the fire safety services market due to rising demand for testing, inspection, and certification services worldwide. The TIC criteria for fire safety services vary by region for various end use sectors.

Additionally, it helps meet and demonstrate compliance with relevant regulations and laws. This is mostly because outsourcing fire safety services saves money and time compared to in-house fire safety services, which cost more and take longer.

Competitive Landscape

Leading market players operating in the firre safety services market are BRE Europe, Bureau Veritas SA, Convex, DEKRA SE, Element Materials Technology, Geyer Fire, Intertek Group plc, Kiwa NV, Marmic Fire & Safety, NTA, LLC, QIMA, Rina SpA, RISE Research Institutes of Sweden, SGS SA, Southwest Research Institute, TÜV SÜD, UL LLC, VdS Schadenverhütung GmbH, VFS Fire & Security Services and Systems

In order to capitalize on the opportunities presented by the rapidly expanding market, the majority of businesses are concentrating on expanding their operations and putting strategic plans into action. The benchmarked fire safety services and the substantial presence of sensor manufacturing businesses will drive the market's expansion.

The market for fire safety services may be affected moderately by the rising of R&D spending. However, governments are making significant investments in their fire and rescue agencies with the intention of strengthening them.

Fact.MR has provided detailed information about the price points of key manufacturers of fire safety services positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Fire Safety Services Market Research

• By Services:

  • TIC
    • Fire Safety & Security Components
    • End Markets
  • Fire Engineering Services
    • Installation Services
    • Design Services
  • Training & Education

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa