The [FURL=https://www.industryarc.com/Report/15616/flame-detector-market.html]Flame Detector Market[/FURL] is forecast to reach $1.57 billion by 2023, growing at a CAGR of 4.34% in the period 2019-2023. Growth of the flame detector market is mainly attributed to rising usage of flame detectors in oil refineries and turbines, in order to avoid any untoward fire incidents and to safeguard the workplace, workers and equipment. Rising awareness regarding the safety of the workplace and stringent government norms regarding explosions and fire safety has resulted in increased adoption of flame detectors in the oil and gas and chemical industries.Key Takeaways
The flame detector market has been analyzed to be fragmented, with key players accounting for around 36.94% of the market in 2018. Major players in the flame detector market include Johnson Controls, Siemens AG, Robert Bosch GmbH, Tyco, General Monitors, Simtronics ASA, and Emerson Electric Co.
The major driving factor for the flame detector market is adoption of new rules and regulations to ensure safety of employees and to safeguard infrastructure in the oil and gas and chemical industries, which are more prone to fire accidents and thus, require enhanced safety measures.
IR flame detectors are being majorly deployed in the oil and gas industry, owing to their ability to detect flames faster, and their proven functionality in harsh environmental conditions. This has driven demand for IR flame detectors, which are the largest segment type with a share of 33%.
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Flame Detector Market Segment Analysis - By Geography
RoW region is growing at the highest CAGR of 4.74% in the flame detector market during the forecast period. The Middle East is one of the regions with the highest number of oil rigs, which increased from 390 to 396 during 2016-2018, which is a 1.01% increase in the number of oil rigs. Oil rigs use flame detector to ensure the safety of workers and equipment in the workplace. Due to operations in harsh environmental conditions, oil rigs require technologically advanced flame detectors, which can bear environmental stress. Hence, an increase in the number of oil rigs is set to drive the growth of the flame detector market.
Flame Detector Market Segment Analysis Drivers
High adoption of flame detectors across oil and gas and chemical industries
Increased number of safety regulations
Flame Detector Market Landscape
Partnerships and acquisitions along with product development and up-gradation are key strategies for players in the flame detector market. In 2018, the flame detector market remained fragmented with the top five players accounting for 36.94% of market share. Major players in the flame detector market include Honeywell International, Johnson Control (Tyco), Siemens AG, United Technology Corporation, Emerson Electric.
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