Global flame detector market, which accrued nearly 2.99 (USD Billion) in 2019, will register a CAGR of nearly 6.80% during the period from 2020 to 2026.
New York, United States - November 2, 2020 /MarketersMedia/ —
As per analysts at Zion Market Research, the global flame detector market was capitalized at $2.99 billion in 2019 and is projected to advance at a CAGR of over 6.80% during the forecast period 2020–2026. The surged awareness regarding safety in industry verticals, strict administrative norms among several other aspects are catalyzing the expansion of the flame detector market. A flame detector is a kind of sensor that is chiefly designed to detect, identify, and respond to the incidence of a fire or flame. The installation of the flame detectors has a major role in the whole process of recognizing a flame of fire. Following the detection of the flame or fire, the detector mostly sounds an alarm; disables the fuel line, and also stimulates the fire suppression system. The flame detectors are very faster and sense a flame or fire more accurately compared to the heat or smoke detector duet the methods it applies to identify the fire.
Some of the key players in the market are Robert Bosch GmbH, Honeywell International Inc., Tyco International PLC, Siemens AG, Johnson Controls, MSA Advanced Detection, LLC, and Emerson Electric Co.
Rising Adoption Of Flame Detectors In Various Industries To Spur The Global Flame Detector Market
The rising popularity and implementation rate of flame detectors in various industries, including oil & gas, mining, transportation, manufacturing, and retail, are considered as major drivers for the market. The key application areas of the flame detectors are industrial drying & heating system, domestic heating system, and gas-fueled cookers. The administrative rules and regulations for workplace safety are the main aspects stimulating the growth of the flame detectors market. The augmenting installation of flame detectors in factories, enterprises, and companies is another chief driver for the market. High installation & maintenance prices with the shorter lifespan of flame detectors are some of the limitations on the market, which are likely to impact the expansion of the market in the forecasted period. Nevertheless, applications in the paper & printing industry are one of the potential areas in the market.
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The global flame detectors market is bifurcated on the basis of the product, industry, service, and regional analysis. Based on the product, the market is divided into single UV, single IR, multi IR, dual IR or UV, and others. Based on the industry, the market is divided into hospitality & travel, BFSI, transportation & logistics, healthcare, retail, manufacturing, oil & gas, mining, and others. Based on the service, the market is divided into managed services, support & maintenance, engineering services, and others.
The Asia Pacific Region To Witness Major Growth In The Global Flame Detector Market
Based on the geographical analysis, the global flame detector market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The Asia Pacific region dominated the flame detectors market during 2016 in terms of revenue. Europe and North America followed the Asia Pacific in regards to market share in the global market. China is the chief contributor to the Asia Pacific market owing to its technological development in the field of flame detectors. Japan, India, Taiwan, and South Korea followed China with regards to market share across the Asia Pacific. The rising industrialization and surging adoption rate of flame detectors in various manufacturing factories and the oil & gas segment are key factors boosting the development of the market.
The global flame detector market is segmented as follows:
Based on the product:
Single UV
Single IR
Dual IR or UV
Multi IR
Others
Based on the industry:
Hospitality &Travel
Healthcare
BFSI
Transportation &Logistics
Oil & Gas
Manufacturing
Retail
Mining
Others
Based on the service:
Managed Services
Support & Maintenance
Engineering Services
Others
Based on the region:
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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Source: MarketersMedia
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