This market research report provides a comprehensive analysis of the global fire and gas detection system market by end users (oil and gas, chemical and petrochemical, and pharmaceutical) and by geography (the Americas, APAC, and EMEA). It outlines the key drivers, trends, and challenges along with their impact on this market. The key vendors analyzed in this report are ABB, Honeywell, Schneider Electric, Rockwell Automation, and Yokogawa Electric.
Technavio has released a new market research report on the global F&G detection system market, which is expdected to grow at a CAGR of 5% between 2016 ad 2020. Growing exploration activities in the oil and gas sector has necessitated the use of safety equipment systems such as F&G detection systems for monitoring and controlling any leakage of gas and fire in the plants. EMEA is the largest revenue-ciontributing region in the global F&G detection system market, accounting for 42% of the oevrall market revenue. Growing oil production and the need to abide by the regulatory bodies in the region have surged the need for F&G detection systems.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Recently, the market is witnessing rise of wireless instrumentation in safety systems. F&G detection system with a wireless connection can directly transmit the vital statistics to the top management and give the command to any critical issue. The emergence of an SIL 2 compliant wireless gas detection system is expected to increase the adoption of wireless instrumentation for safety-critical applications during the forecast period,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research
Oil and gas industry is the major end-user of F&G detection system, accounting for 52% of the total market share. The operators in oil and gas terminal applications require integrated fire and gas safety systems that allow proactive response to alarms and events. These systems are also needed for a real-time view of any possible threats in future. An integrated F&G detection system for oil and gas sector usage includes loading system interlocks and high tank alarms compliant with IEC 61511 standards that ensure a plant’s safety by preventing overflow through the shutdown of pumps.
Global F&G detection system market in oil and gas industry 2015-2020 ($ millions)
Source: Technavio, 2016
The key vendors in the global F&G detection system market are ABB, Honeywell, Schneider Electric, Rockwell Automation, and Yokogawa Electric. This market is concentrated within the top ten players. Key vendors hold the majority of market shares due to their high brand value and expertise in the automation sector. Most of the major vendors offer their ESD solutions directly.
A more detailed analysis is available in the Technavio report, Global F&G Detection Systems Market 2016-2020.
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