Flame Detectors Market size to exceed USD 3 billion by 2024: Global Market Insights Inc.

Flame Detectors Market size is estimated to grow at over 6% CAGR from 2016 to 2024, and is predicted to be valued over USD 3 billion by 2024.

The industry is characterized by the stringent regulatory norms across developed and developing economies. Continuous efforts across numerous business ventures in order to provide employees with safe and secure working environment will drive flame detectors market size through 2024.

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These devices aid in early fire detection by efficiently detecting smoke, fire and flame in the surrounding. They exhibit flawless capability of detecting radiations from the flames and generate alert signals, and are produced to effectively operate even in extreme conditions. Responses to a detected flame includes buzzing of an alarm, fuel line deactivation (such as natural gas and propane line), and activation of a fire suppression system.

Escalating adoption across diverse industry sectors such as oil and gas, manufacturing, energy and power is anticipated to offer massive growth potential from 2016 to 2024. Increasing industry participants focus of R&D in order to develop technically advanced products will positively impact flame detectors market size through 2024.

These devices require expensive raw material which in turn is likely to increase product prices. High installation cost may hamper the product demand. In addition, substantial maintenance may negatively impact growth over the forecast timeline. However, training initiatives in by various organizations regarding safety at workplace could create massive opportunities.

On the basis of the product, the flame detectors market share can be segregated into single IR, single UV, dual IR/UV, Multi IR, visible sensors, triple IR (IR3) and multi IR. IR3 or Triple IR types may experience potential growth prospects owing to its high range detection capability when compared to others such as single IR. UV detectors are expected to find in prominence in indoor applications due to its high precision for detecting organic as well as inorganic flames. These devices function well when exposed to sunlight and are ideal for indoor applications. Furthermore, advent of technically advanced products such as multi IR and triple IR (IR3) are forecast to witness tremendous growth prospects owing to inbuilt false alarm detection systems.

Based on end-use, the industry can be bifurcated into energy and power, consumer goods and retail, government, manufacturing, healthcare, oil & gas, aerospace & defense, transportation & logistics, mining, automotive, marine, etc. On the basis of service, it can be categorized into inspection and managed services, engineering services, installation & design services, and maintenance services.

UV or IR flame detectors are widely implemented in numerous applications such as in gas-fueled cookers, industrial heating and drying systems, industrial gas turbines, hydrogen stations, domestic heating stations. In addition, other applications include MDF factories, fume cupboards, coal handling, felt manufacture, nuclear industry, waste handling, pharmaceuticals, agriculture, metal fabrication, power lands and power plants, printing, spray booths, tunnels, aircraft hangars, clothing dryers and high voltage equipment.

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U.S. flame detectors market share is forecast to witness considerable growth over the forecast timeline. This is mainly on account of presence of large number of industries across the region. Asia Pacific flame detectors market is likely to exhibit substantial growth prospects owing to rising adoption of these products across the region. Growth in the region can be attributed to increasing awareness regarding safety and security offered by these devices.

Major manufacturers in flame detectors market include Honeywell, Siemens, General Monitors, Johnson Controls. Other prominent partners are Emerson, Det-tronics, Electric, Micropack, Spectrex, Simtronics ASA, United Technologies Corporation, Tyco, and Bosch. The industry has witnessed frequent mergers & acquisitions and new product development in order for manufacturers to maintain competitive edge. Industry players focus on expanding their presence into emerging markets such as Asia and Africa. Growing focus on developing improvised products with attributes such as robust, easy to install and fast response rate with wide angle detection capability will catalyze the industry demand from 2016 to 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.