World Fire Alarm Equipment Market to Top $4.2 Billion by 2010, According to New Report by Global Industry Analysts, Inc.

San Jose, California (PRWEB) July 16, 2007 -- A new report on fire alarm equipment has been released by Global Industry Analysts, Inc. "Fire Alarm Equipment: A Global Strategic Business Report" presents detailed analyses and coverage of the US, Canadian, Japanese, European (including French, German, Italian, UK, Spanish, Russian, and Rest of Europe), Asia-Pacific, Latin American, and Middle East markets.

Product segments independently analyzed for the above mentioned regions/countries include Fire Alarm Panels (Conventional Panels, Addressable Panels, and Voice Evacuation Systems), and Fire Alarm Devices (Annunciators, Notification Devices, and Manual Pull Stations). In addition, the report also provides a vertical end use analysis for Office/commercial, Educational, Hospital, Industrial, and Other End Use Segments for the US market. The report covers major trends and issues pertaining to the Fire Alarm Equipment market on global as well as regional basis.

Fire alarm equipment market (http://www.strategyr.com/MCP-1456.asp) can be broadly classified into two segments - fire alarm panels and fire alarm devices. Of the two segments, fire alarm panels market (http://www.strategyr.com/MCP-1456.asp) that include conventional panels, addressable panels, and voice evacuation systems has emerged as the larger segment gaining share from fire alarm devices market (http://www.strategyr.com/MCP-1456.asp) over the years. Fire alarm panels market is estimated to exceed US$2 billion by the end of 2007. Addressable panels market continues to be the largest contributor to the fire alarm panels segment, driven by higher prices and technological competence. The trend is likely to continue over the upcoming years. Fire alarm devices market that includes annunciators, notification devices, and manual pull stations is projected to reach US$1.8 billion by 2010. Within fire alarm devices, notification devices market represents the largest, while manual pull stations market forms the fastest growing segment.

Growth in the developed world is primarily led by renovation activities and adoption of new building and fire safety codes. In the developing countries, new construction activity is the key growth driver. Majority of the demand for fire alarm systems stems from building renovation activity. Moreover, many buildings that were constructed prior to revised building codes have no alarm systems. Thus, building renovation represents a huge potential for fire alarm equipment market growth.

As installation of fire alarm equipment is a pre-requisite but not an alternative, the industry has historically been an even market exemplified by slow growth and conservativeness in new technology adoption. In recent years, however, the market has seen the introduction of high-tech products that are not only efficient but also faster. Changing end-user requirements and a greater need to minimize false alarms have resulted in advanced products that incorporate multi-sensor technologies. The worldwide fire alarm equipment market is highly competitive and price represents the key factor among the players in the market.

Demand for fire alarm equipment is highly price elastic, forcing manufacturers to produce high quality products and offer them at low prices. While established majors can manage price pressures by offsetting lower earnings through products that provide higher profits, small players would face challenges to remain competitive. Using an ideal mix of mechanism is likely to trim down production costs and offer products at reduced prices. Leading players in the global fire alarm equipment market include Bosch Security Systems Inc, Cooper Wheelock, Fenwal Controls of Japan Ltd, GE Infrastructure, Security, Gentex Corporation, Hochiki Corporation, Honeywell International Inc, Matsushita Electric Works Limited, Napco Security Company Inc., Nittan Company Limited, Nohmi Bosai Ltd, RSG Security Inc., Siemens Switzerland Ltd Building Technologies Group, Signal Communications Corporation, Spaceage Electronics Inc, Spectronics Corporation, Tyco Fire & Security, and WSA Fire Systems.

Authorities in the majority of developed countries such as the US, Canada, and Japan have amended their standard building codes. The revised codes mandate the installations of fire alarm equipment in all office/commercial, manufacturing site, and educational and entertainment buildings. The development is directly related to the secular trends in overall market for fire alarm equipment. Buildings under renovation are also included in the amended regime, resulting in further growth of the market. ADA (American with Disabilities Act), the latest act for the safety and security of disabled citizen also mandates the installation of visual devices (strobes) to alert the hearing-impaired in such a rescue situation.

For more details about this research report, please visit http://www.strategyr.com/MCP-1456.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

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