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The fire and gas detection system market share is expected to increase by USD 949.07 billion from 2020 to 2025, at a CAGR of 3.59%.
This fire and gas detection system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers fire and gas detection system market segmentation by end-user (oil and gas, chemical and petrochemical, pharmaceutical, and others) and geography (APAC, North America, Europe, MEA, and South America). The fire and gas detection system market report also offers information on several market vendors, including ABB Ltd., Crowcon Detection Instruments Ltd., Emerson Electric Co., ESI Engineering for Science and Industry (Malta) Ltd., GIL Automations Ltd., Honeywell International Inc., Johnson Controls International Plc, Kongsberg Gruppen ASA, MSA Safety Inc., and Omega Integration Pte Ltd. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rising production of shale gas is notably driving the fire and gas detection system market growth, although factors such as the high maintenance cost of fire and gas detection systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fire and gas detection system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Fire and Gas Detection System Market Driver
One of the key factors driving growth in the fire and gas detection system market is the rising production of shale gas. Shale gas has changed the structure of oil and gas energy globally owing to the supply glut it brought into the market, which eventually led to price drops. Unlike traditional natural gas, shale gas exploration emits larger amounts of methane and hence, has a higher greenhouse gas footprint. CH4 is not only harmful to the environment but also a source of explosion hazards. The increase in shale gas production from countries such as the US, Russia, Iran, Qatar, Canada, China, Norway, and Saudi Arabia has increased the scope for the adoption of gas detection products and solutions. In addition, the increased urge to minimize casualties and rise in the number of government mandates have given rise to the adoption of the latest safety tools such as fire and gas detection systems in the shale gas production processes, owing to their functional benefits. An increase in shale gas production will drive the global fire and gas detection system market.
Key Fire and Gas Detection System Market Trend
The advent of 3D fire and gas mapping tools is another factor supporting the fire and gas detection system market share growth. The advent of the 3D fire and gas mapping software tool is one of the recent technological advances in the field of safety instrumentation systems. This tool is being widely adopted across end-user industries such as the oil and gas and chemical and petrochemical industries. The implementation of the 3D fire and gas mapping tool in an industrial setup helps in optimization of the number and location of F&G detectors. Companies like Detector Electronics, a unit of United Technologies, is offering 3D fire and gas mapping tool for increased safety levels and the enhanced layer of protection industries.
Key Fire and Gas Detection System Market Challenge
The high maintenance cost of fire and gas detection systems will be a major challenge for the fire and gas detection system market during the forecast period. The ongoing advances in nanotechnology and availability of faster Internet have enhanced the functions of F&G detection systems. However, these systems need periodic maintenance and an around-the-clock monitoring system. On average, F&G detection systems require testing every 90 days to maintain the calibrated standards that vary with requirements. These tests are necessary to ensure the detection of target flames and gases. The need for the frequent maintenance of F&G detection systems adds to the cost incurred by end-user industries. This has negatively affected the adoption of these systems by industries. Also, vendors of F&G detection systems may take advantage to create a vendor lock-in situation by offering systems that can only be serviced by them.
This fire and gas detection system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global fire and gas detection system market as part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fire and gas detection system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the fire and gas detection system market encompasses successful business strategies deployed by the key vendors. The fire and gas detection system market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
ABB Ltd. - The company offers a fire and gas detection system named System 800xA.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The fire and gas detection system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the fire and gas detection system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the industrial machinery market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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58% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for fire and gas detection systems in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The development in IoT and remote monitoring will facilitate the fire and gas detection system market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The fire and gas detection system market share growth by the oil and gas segment will be significant during the forecast period. Factors such as the ongoing exploration of new oil and gas fields and refinery units and increased expansions in onshore and offshore production activities are expected to drive the market during the forecast period. In addition, the oil and gas industry in APAC is estimated to grow during the forecast period, mainly due to the rising demand for automobiles and, subsequently, the growing need for petrol and diesel.
This report provides an accurate prediction of the contribution of all the segments to the growth of the fire and gas detection system market size and actionable market insights on post COVID-19 impact on each segment.
Wireless Gas Detection market - The market size has the potential to grow by USD 524.65 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
Gas Detection Equipment market - The market share is expected to increase by USD 918.26 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.53%.
Gas Detectors market,- The market share is expected to grow at a CAGR of close to 5% by 2021.
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Fire and Gas Detection System Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 3.59% |
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Market growth 2021-2025 |
$ 949.07 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.10 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 58% |
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Key consumer countries |
China, US, Germany, India, and Russian Federation |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Crowcon Detection Instruments Ltd., Emerson Electric Co., ESI Engineering for Science and Industry (Malta) Ltd., GIL Automations Ltd., Honeywell International Inc., Johnson Controls International Plc, Kongsberg Gruppen ASA, MSA Safety Inc., and Omega Integration Pte Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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