Fire and Gas Detection System Market Size, Share, By Product Type (IR3, Combined UV/IR, Single UV Types, Single IR Types, and Multi-IR Detectors), By Detector Type [Fire Detector (Smoke Detectors, Heat Detectors, and Flame Detectors), Gas Detector (Flamma

Fire and Gas Detection System Market Size, Share, By Product Type (IR3, Combined UV/IR, Single UV Types, Single IR Types, and Multi-IR Detectors), By Detector Type [Fire Detector (Smoke Detectors, Heat Detectors, and Flame Detectors), Gas Detector (Flammable Gas Detectors, Toxic Gas Detectors)], By End User (Oil and Gas, Chemical and Petrochemical, Marine, Pharmaceutical, Waste Disposal, Printing, Automotive, and Others), and By Region - Trends, Analysis and Forecast till 2034

The advent of 3D fire and gas mapping tool is one of the major trends driving growth of the fire and gas detection system market. The 3D fire and gas mapping tool help in quick and reliable detection of gas/fire release. This is one of the most crucial aspects in ensuring the safety of an industrial plant. Additionally, rising production of shale gas is the factor propelling growth of the fire and gas detection system market. Shale gas exploration is a process which emits large amounts of methane (CH4) which requires fast and reliable detection to minimize accidents in industrial plants. Thus, the rise in production of shale gas will create a demand for global fire and gas detection systems market over the forecast period. Nevertheless, integration of control and safety systems is creating major opportunity for growth of the fire and gas detection system market.

The report "Fire and Gas Detection System Market, By End-user (Oil & Gas, Chemical & Petrochemical, and Pharmaceutical), and Region - Global Forecast to 2034"

Key Highlights:

• On July 2018, Rockwell Automation has started Integrating Safety into Machines. It has seven new safety modules across three I/O platforms. This offers designers both local and distributed safety I/O options and a wide range of performance and connectivity attributes to help improve compliance and machine performance.
• On June 2019, Yokogawa Electric Corporation had collaborated with Finland-based Sensire Ltd. in the cold chain monitoring field and announces that they have reached an agreement for Yokogawa to take a €6 million stake in Sensire.
• On July 2019, Emerson has introduced two new rosemount 628 Universal Gas Sensors to measure carbon monoxide and oxygen depletion in addition to increase toxic gas safety for plant sites.

Key Market Insights from the report:

Fire and Gas Detection System Market Size was valued at USD 15.1 Billion in 2024 and is expected to reach USD 23.4 Billion by 2034 growing at a CAGR of 4.9%.The market report has been segmented on the basis of application, end-user, and region.

• By end-user, the fire and gas detection system market is segmented into oil & gas, chemical & petrochemical, and pharmaceutical. The oil and gas end-user segment held the largest market share in 2018. This end-user segment will dominate the global market over the forecast period.
• By region, Europe accounts for the largest share market in terms of revenue. The Middle East is a hub for the world’s largest oil and gas extraction and production facilities. Growing oil production and the need to abide by the regulatory bodies in the region have surged the need for Fire and gas detection systems. Oil production has increased with the rise in E&P activities, raising the risk of fire incidents. Companies are also investing in spreading awareness of safety systems among employees and design advanced equipment. Asian Pacific is expected to dominate the fire and gas detection system market over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Fire and gas detection system Market”, By End-user (Oil & Gas, Chemical & Petrochemical, and Pharmaceutical), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2034

The prominent player operating in the fire and gas detection system market includes ABB Ltd, Honeywell, Inc., Rockwell Automation, Inc., Schneider Electric S.E, Yokogawa Electric Corporation, Autronica AS, Emerson Process Management Ltd., Esoterica Automation, GIL Automation Corp. Ltd., and Hochiki Corporation.

About Prophecy Market Insights

Prophecy Market Insights is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.