The global market for fire detections that combine multiple detection technologies is expected to see strong growth due to an increase in mixed-use facilities, need to reduce detection devices and lower pricing.
The global market for fire detections that combine multiple detection technologies is expected to see strong growth due to an increase in mixed-use facilities, need to reduce detection devices and lower pricing.
According to a report from the research firm IHS, the multi-criteria fire detector market was worth US$265 million in 2015 and is expected to grow at a CAGR of 6.6 percent from 2015 to 2020.
“Justin Siller, associate director for security and building technology at IHS, said in a research note that the introduction of multi-criteria detectors, which combine multiple detection technologies, have provided end-users with increased flexibility and functionality in their fire detection systems,” the report said.
Siller identified three main reasons for this growth.
The increasing number of mixed-use facilities: There is an increasing number of facilities that combine several different functions and this has boosted demand for detectors that can work in complex environments.
“For example, the increasing number of facilities that combine retail, restaurants, and lodging create unique challenges for building owners and fire detector manufacturers,” the report said. “IHS found that the risk of fire varies in each environment – each requiring a different type of detector. Combining multiple technologies into a single unit means that fire detectors will be able to meet the needs of various clients.”
Reduced number of devices: According to IHS, another factor that’s boosting the market is customers wanting to bring down the number of devices installed at their facilities. This is especially true in locations where aesthetics is given importance.
Lower prices: As the number of installed systems and competition increases, the price of multi-factor fire detectors continue to decline and this is also boosting the market.
“The increased adoption of multi-criteria detectors is expected to continue, increasing the opportunity for fire detection product manufacturers. Currently, these detectors are viewed as a premium product mostly installed in high-end projects,” Siller wrote. “As the price of multi-criteria detectors becomes more competitive, their use is expected to become more mainstream and manufacturers will find new opportunities to sell these detectors within medium-sized projects.”