Overview and Scope
Fire testing refers to a method of figuring out whether products that have a fire rating meet the minimum performance standards specified in a building code or other relevant legislation.
Sizing and Forecast
The fire testing market size has grown strongly in recent years. It will grow from $7.17 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to stringent regulatory standards, increasing urbanization, expanding international trade, growing construction industry, previous fire incidents.
The fire testing market size is expected to see strong growth in the next few years. It will grow to $10 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to renewable energy infrastructure, rise of electric vehicles, aging infrastructure, sustainable construction, growth of interconnected systems. Major trends in the forecast period include integration of IoT, green fire testing, customized testing solutions, remote testing services, advanced simulation technologies.
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Segmentation & Regional Insights
The fire testing market covered in this report is segmented –
1) By Service: Testing, Inspection, Certification, Other Services
2) By Sourcing: In-house, Outsourced
3) By Application: Building and Construction, Automotive, Industrial and Manufacturing, Consumer Goods and Retail, Aerospace and Defense, Other applications
Asia-Pacific was the largest region in the fire testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the fire testing market report forecast period. The regions covered in the fire testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing adoption of the smart city concept is expected to propel the growth of the fire testing market going forward. A smart city refers to a city that makes use of information and communication technology (ICT) to boost productivity, inform the populace, and enhance the standard of public services and welfare. Fire testing is employed in smart cities for the prediction and early detection of fire and smoke, which can considerably increase public safety by lowering large-scale damage. For instance, in October 2022, according to an article shared by National World plc, a UK-based news publishing company, Saudi Arabia is building a smart city called Neom to host an international sporting event called The Asian Winter Games 2029. A Saudi smart city called Neom is now being constructed in Tabuk Province in northwest Saudi Arabia. At an estimated cost of $500 billion (about £436 billion), it is intended to include smart city technologies and serve as a tourism destination. Due to delays, it may now take until 2026 to accomplish the project, which Saudi Arabia had hoped to have done in large portions by 2020 and with an expansion concluded in 2025. Therefore, increasing the adoption of the smart city concept drives the fire testing market.
Key Industry Players
Major companies operating in the fire testing market report are Bosch Security Systems Inc., Siemens AG, United Technologies Corporation, Honeywell International Inc., Johnson Controls International plc, UTC Fire & Security, SGS Group SA, Bureau Veritas SA, Intertek Group plc, DEKRA SE, DNV GL, TÜV Rheinland, Underwriters Laboratories Ltd., Applus+ IDIADA, BRE Group Ltd., Kiwa NV, Mistras Group Inc., The Element Materials Technology Group Ltd., Exponent Inc., VdS Schadenverhütung GmbH, QIMA Limited, Applied Technical Services LLC, Tyco Fire Products LP, Kidde Technologies Inc., FM Approvals LLC, Smithers Ltd., International Fire Consultants Limited, RINA SpA, Exova Group plc, Assure Controls Inc.
The fire testing market report table of contents includes:
1. Executive Summary
2. Fire Testing Market Characteristics
3. Fire Testing Market Trends And Strategies
4. Fire Testing Market – Macro Economic Scenario
5. Global Fire Testing Market Size and Growth
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32. Global Fire Testing Market Competitive Benchmarking
33. Global Fire Testing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fire Testing Market
35. Fire Testing Market Future Outlook and Potential Analysis
36. Appendix
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