PUNE, India, October 6, 2015 /PRNewswire/ --
According to a new market research report "Flame Detectors Market by product (Single IR, UV, Dual UV/IR, Triple IR (IR3), Multi IR), Service (Engineering, Installation & Design, Maintenance), Industry (Manufacturing, Oil and Gas, Mining, Energy and Power), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the total market is expected to reach USD 3.2 Billion by 2020, at a CAGR of 6.07% during the forecast period.
Browse 85 Tables and 72 Figures spread through 172 Pages and in-depth TOC on "Flame Detectors Market"
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Flame detectors are being preferred by companies due to their application in various sectors ranging from healthcare to military to government. High-quality products are being developed which can detect radiations emitted through a fire over a long distance.
Flame detectors have been in the market since a couple of decades and have evolved in terms of products and services. Single IR and single UV were conventionally used to detect radiations; however, these detectors have certain limitations which are overcome by more effective flame detectors such as multi IR and triple IR (IR3), which have inbuilt false alarm detection systems.
The Flame Detectors Market is gaining momentum and this trend is expected to continue till 2020. Flame detectors have applications in various verticals among which manufacturing, oil & gas, energy & power, and mining are expected to hold the largest share during the forecast period. The application in marine and mining industries is poised to grow rapidly at CAGR of 7.91% and 7.39% during the forecast period.
The flame detectors market is expected to reach USD 3.2 Billion by 2020 at a CAGR of 6.07% between 2015 and 2020. Although the market is witnessing a decent growth due to the government mandates and regulations around the globe and increased spending of enterprises on flame detectors, the high maintenance and manufacturing costs are restraining the growth of the this market.
The global flame detectors market report describes the market trends, drivers, and challenges for the growth of this market along with market size estimations till 2020. It segments the said market on the basis of product, service, industry and geography. This report provides a bird's eye-view of the said market across regions- North America, Europe, Asia-Pacific, and RoW (Rest of the World). North America is the largest market for flame detectors and is expected to retain its position till 2020, with the U.S. holding a large market share. Europe (Germany and the U.K.) and APAC (South Korea and Japan) are also promising markets expected to witness rapid growth.
The competitive landscape section presents valuable insights related to players in the flame detectors market. The global flame detectors market report profiles the key players in the market, based on their revenue, product portfolio, recent developments, and key strategies adopted for growth.
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Some of the major manufacturers of flame detectors are Honeywell International (U.S.), Siemens AG (Germany), Johnson Controls (U.S.), General Monitors (U.S.), Det-tronics (U.S.), Micropack (U.K.), Emerson Electric Co. (U.S.), Spectrex, Inc. (U.S.), Simtronics ASA (Norway), United Technologies Corporation (U.S.), Robert Bosch GmbH (Germany), and Tyco (Ireland) among others.
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