The fire protection systems (FPS) market is set to grow from USD48 bn in 2015 to USD98 bn by 2022, a 10 percent CAGR from 2016 to 2022, research by Markets&Markets showed. Although...
Human machine interface solutions, smart buildings, smart sensory networks, and nanotechnology are technologies being launched in the FPS market. The main FPS are fire management systems, fire analysis software, and fire response systems with the former garnering the largest share of the global fire protection systems and expected to lead the market till 2022. Fire analysis software systems will witness the highest growth rate during the forecast period (2016 - 2022) due to increasing need for sophisticated fire analysis, helping arrive at proper decisions towards fire prevention. The oil, gas, and mining sectors are more at risk to fire accidents because of the presence of highly flammable materials such as oil, gasoline, and other combustible substances, and as such, proper fire detection and prevention systems are required in this sector to avoid accidents. Protection against terrorist acts has created demand for fire protection improvement while new construction and renovation projects in East Asia and Southeast Asia, especially in China, and in East Europe is sustaining growth especially when old fire protection standards have to be upgraded to meet international requirements, research by Helmut Kaiser indicated. The Vertical markets include commercial, residential, energy & power, government, manufacturing, oil, gas & mining, transportation & logistics among others. The commercial vertical will take the lion's share of FPS market by 2022, while the FPS for the oil, gas, and mining vertical will grow the fastest in the corresponding period. Traditional FPS market leaders are Honeywell International Inc. Johnson Controls and Siemens AG. The global forecasts for flame detectors market to 2020 spell out a USD3.2 billion market size growing at 6 percent CAGR between 2015 and 2020, another study by MarketWatch revealed. Flame detectors are devices which have the ability to sense radiations coming out flames, and determine the intensity of the radiation emitted at the moment of ignition. Flame detectors have evolved with respect to their functionalities and accuracy of detection, from single IR /single UV which detect UV and IR radiations emitted from a flame, to more advanced flame detector technologies such as dual IR/ UV, IR3, and & multi IR which identify false alarms and have a long detection range. Different detectors cater to many application areas across diverse industries such as manufacturing, oil & gas, energy & power, and mining. The other emerging industries in which flame detectors are being used and are gradually gaining importance are printing and paper.