Fire Protection and Insurance Markets Grow

The fire protection system pipes market is projected to reach USD 28.5 billion by 2027, driven by the increasing use of foam in the oil and gas industry for firefighting. The global fire alarm market is expected to reach USD 50.8 billion by 2030, fueled by technological advancements and growing awareness related to safety. The fire insurance market is set to grow from $67.28 billion in 2022 to $74.08 billion in 2023, driven by factors such as product innovation and the rise in fire accidents worldwide.