Global Fire and Gas Detection System Market 2018-2022 | Rising Production of Shale Gas Boosts Growth | Technavio

Technavio analysts forecast the global fire and gas detection system market to grow at a CAGR of almost 5% during the forecast period.

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The advent of 3D fire and gas mapping tool is one of the major trends being witnessed in the global fire and gas detection system market 2018-2022. The 3D fire and gas mapping tool help in fast and reliable detection of gas/fire release. This is one of the most crucial aspects in ensuring the safety of an industrial plant. The implementation of 3D fire and gas mapping tool in an industrial setup assists in the optimization and location of F&G detectors.

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According to Technavio’s analysts, one of the key factors contributing to the growth of the global fire and gas detection system market is the rising production of shale gas:

Global fire and gas detection system market: Rising production of shale gas

The growing shale gas production in countries such as US, Russia, Iran, Qatar, Canada, China, Norway, and Saudi Arabia has led to an increase in scope for the adoption of gas detection products and solutions. Furthermore, the increasing focus on minimizing casualties and a growing number of government mandates have also led to the adoption of latest safety tools such as wireless gas detection products.

According to a senior analyst at Technavio for research on automation, “Real-time monitoring using wireless gas detection solutions has contributed to a decrease in gas emission problems. This has assisted in safeguarding industrial plants and assets efficiently. An increase in shale gas production is anticipated to drive the global fire and gas detection system market during the forecast period.”

Global fire and gas detection system market: Segmentation analysis

Technavio’s global fire and gas detection system market research report provides market segmentation by end-user (oil and gas, chemical and petrochemical, and pharmaceutical) and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the three major end-users, the oil and gas segment held the largest market share in 2017, contributing to over 49% of the market. This end-user segment will dominate the global market throughout the forecast period.

APAC held the largest share of the market in 2017, accounting for more than 34% share. It was followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2018-2022.

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Five Forces Analysis

Market Segmentation

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