The Fire Sensors And Detectors Market size are
forecast to reach US$55.4 billion by 2027, growing at a CAGR of 8.5% from 2022
to 2027. Rapid
industrialization and urbanization have led to many fire-related accidents and
tragedies which led to the growing adoption of fire sensors and detectors. In
February 2021, Apollo Fire Detectors launched a new range of EN54-7-approved
fire detectors for the international market. However, high deployment and
maintenance costs act as a major restraint in the market growth.
Moreover, technical advancements in sensors and detectors have produced innovative fire detectors such as carbon monoxide detectors, heat detectors and flame detectors which have modernized the Fire Sensors and Detectors Market as they are capable of dealing with challenging situations. In January 2020, General Monitors announced the release of the FL500-H2 UV/IR detector, which is designed to provide safe hydrogen usage, production and transportation which makes it a crucial piece of equipment for the Oil and Gas Industry.
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APAC generated approximately 27% of the global revenues in the Fire Sensors and Detectors industry in 2021. Increasing government regulations towards safer working conditions and the presence of major manufacturers boost the market growth. In September 2020, the Indian Government published the Occupational Safety, Health and Working Conditions Code, to improve the occupational safety, working conditions, health and safety of employees working in an organization. Such measures by the government will positively influence the Fire Sensors and Detectors industry outlook during the forecast period.
Fire Sensors and Detectors Market Growth Drivers:
Increasing applications of Fire Sensors and Detectors in the Oil and Gas Industry will drive the Fire Sensors and Detectors Market forward
Oil & Gas industry is a major market for Fire Sensors and Detectors products as the industry is susceptible to a highly critical as well as the hazardous environment, necessitating the installation of various fire protection systems in order to avoid life or property damage. Manufacturers have been focusing heavily on optimizing fire detection capabilities through the use of smart sensing technologies as a result of technological advancements, eventually meeting the requirements of improved fire protection. In November 2020, Det-Tronics announced that it was expanding its capabilities for the X3302 multi-spectrum infrared flame detector by adding third-party certification for detecting hydrogen, methane, methanol and syngas fires in the Oil and Gas industry. These factors will positively influence the Fire sensors and detectors industry outlook in the Oil & Gas industry.
The Major Players in this Market Include
Major players in Fire Sensors and Detectors Market include Halma PLC, Honeywell International INC, Johnson Controls International PLC, Hochiki Corporation, Eaton Corporation PLC and Robert Bosch GMBH among others. In August 2021, Johnson Controls announced its new ZETTLER PROFILE Lite range of addressable fire alarm control panels which has color LCD screens with a simple interface to reduce operator errors.