Local, state, and federal building codes are the primary drivers indicating a rising demand for fire alarm panels in commercial and industrial buildings, according to a new study by Frost & Sullivan, San Jose, Calif.
In its North American Fire Alarm Panel Markets analysis, the company reveals the country's economic environment has helped the industry gain the financial resources necessary to renovate existing fire alarm systems. The industry, which comprises conventional, addressable, and voice-evacuation panels, generated revenues of $356 million in 2000. The report also projects that number will top $520 million by 2007.
“As long as the economy supports strong construction and building improvements, fire alarm companies will prosper,” says Christina Navarro, Frost & Sullivan industry analyst. “As building codes are revised and standardized, their adoption and application encourages enhanced applications in both new construction and retrofit jobs.”
The study analyzes the current state of these markets by studying industry drivers and restraints, estimating their impact on the market. It provides customer and pricing trends, and identifies the challenges companies will face in the future.