DUBLIN, July 28, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/qr6893/global_fire) has announced the addition of the "Global Fire Sensors and Detectors Market by Component, by Vertical and Geography - Analysis & Forecast to 2019" report to their offering.
The global fire sensors & detectors market was valued at $2.5 billion in 2014 and is expected to witness a CAGR of 10.8% during the forecast period, 2014 to 2019. By type, the global fire sensors and detectors market has been segmented into components and services.
The global fire sensors & detectors market, by component, was valued at $1.6 billion in 2014 and is projected to reach $2.4 billion by 2019, at CAGR 9% during the forecast period, 2014 to 2019.
Among components, the smoke detectors segment led the global fire sensors & detectors market in 2014 and accounted for a market share of 52.8%. The service and maintenance segment held the largest market share in the global fire sensors and detectors market in 2014 and accounted for a market share of 34.4%.
The North American region dominated the global fire sensors & detectors market in 2014. The revision and implementation of the building and fire safety regulations is driving the growth of the global fire sensors and detectors market. Few sectors, such as, oil & gas, and mining, and energy & power are witnessing increased usage of the fire sensors and detectors as they need to adhere to stringent corporate and federal regulations. These sectors account for a significant share in the global fire sensors and detectors market.
The global fire sensors & detectors market is growing rapidly owing to the fastest-growth of some verticals which include manufacturing, transportation, and energy & power. The global fire sensors & detectors is one of the emerging markets with immense growth potential. This is due to the higher safety regulations being implemented by various governments. For instance, in the European region, as per rule, the fire sensors and detectors installed have a maximum life cycle of 10 years. The other factors that are driving the global fire sensors & detectors market are the modernization of the existing buildings as well as the new constructions wherein fire sensing and detection systems are being installed.
The global fire sensors and detectors market is dominated by Bosch Security Systems, Tyco International Ltd., Halma plc, Honeywell, and United Technologies Corporation (UTC)
Scope of the Report
- This research report categorizes the global fire sensor & detector market into the following segments and sub-segments:
Global Fire Sensors and Detectors Market, By Vertical
- Academia and Institutional - BFSI - Consumer Goods & Retail - Energy & Power - Government - Healthcare - Manufacturing - Oil & Gas and Mining - Transportation & Logistics - Other Verticals
Global Fire Sensors and Detectors Market, By Component
- Smoke Detectors - Heat Detectors - Flame Detectors - Other Detectors
Global Fire Sensors and Detectors Market, By Services
- Engineering Services - Service & Maintenance - Managed Services - Other Services
- Bosch Security Systems - Johnson Controls, Inc. - London Security PLC - Siemens AG - Tyco International Limited - United Technologies Corporation
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SOURCE Research and Markets