Mexico Fire Safety Equipment Market Research Report, 2027

UL Standards & Engagement is the first foreign standards development organization (SDO) to receive this designation, as well as the only SDO able to develop national standards in all three NAFTA countries. The increasing need for fire safety in different segments is pushing the market for fire safety equipment in Mexico. Because of the high risks of flammables such as gas, oil, mining, fuel, and others, the industrial sector is particularly vulnerable. Fire safety systems reduce the amount of damage and losses caused due to fire break-outs. The increase in incidences of the government compulsorily installing fire safety equipment is driving the demand in the country. Integration of fire and safety systems with automated buildings is critical to saving or reducing loss during a fire hazard. A fire safety system provides a high level of coordination, which is required between the active fire system, building wide communications, and interactive smoke control systems in the event of a fire. This system minimizes the loss caused by fire. Fire safety is an important and required feature in new commercial and residential buildings.

According to the report titled "Mexico Fire Safety Equipment Market Research Report, 2027", published by Actual Market Research, the fire safety equipment market for Mexico is expected to rise with a CAGR of around 5.45% during the projected period of 2022 to 2027. Fire detection systems by product are leading the market as they are installed to detect the fire outbreak and take measures accordingly. Commercial application is the highest as the law mandates for the installation of fire safety equipment with the rise in fire accidents in the country.

Technologically advanced fire detection systems and eco-friendly suppression systems are further expected to drive the future markets. The new smart fire systems with IoT and policies regarding the safety codes to be maintained by commercial, residential, or industrial premises and the rise in safety expenditures by enterprises are the growth driving factors in the country. The drawbacks to this market are the lack of a skilled labour force, technical know-how, high maintenance costs of equipment, and regular checks for proper functioning of these systems.

These systems are more complex as they comprise several additional components, especially the fire detection, alarm, and suppression systems. This adds to the system's cost and increases the overall cost of the safety system. Owing to such complexity, experienced and skilled professionals are required for the installation of the system. Moreover, the maintenance cost is also a concern for these systems. These systems require regular maintenance checks to ensure their functionality and reliability.

Grupo SACA is a conglomerate for fire protection solutions in Mexico. They design, supply, install, and maintain the whole range of products and systems related to fire protection. Their clients range from commercial, food and beverage, paper and chemical, and the transformation industry in general. They have over 100 business partners and have served over 500 clients, whether they are industrial, commercial, or others.

The recent COVID-19 outbreak has been affecting every business globally since December 2019. The continuous rise of this pandemic resulted in the government taking steps to put bars on the transportation of humans and goods. The manufacturing and construction industries experienced a temporary shutdown in their activities to curb the virus. The factory shut down and their border lockdowns have impacted manufacturing, supply, and sales of various industries, thus stopping the production of safety products and their adoption in buildings. However, as the situation normalizes, businesses are resuming, including construction activity. With construction projects getting underway, the market for new fire protection products will rise gradually with the ease of the supply chain.

Considered in the report 
Geography: Mexico
Historical year: 2016
Base year: 2021
Estimated year:2022
Forecast year: 2027

Aspects covered in this report 
Mexico Fire Safety Equipment with its value and forecast along with its segments
Various drivers and challenges
On-going trends and developments
Five force models.
Top-profiled companies
Strategic recommendation

By Product type in the report
Fire detection systems
Fire alarm systems
Fire suppression systems

By Application type in the Report 
Commercial
Industrial
Residential

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 list out the companies that are present in it. The secondary research consists of third-party sources such as press releases and annual reports of companies, analyzing government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. After this, we have started making primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience 
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to fire safety equipment 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.