Report: Global market for multi-criteria fire detectors to see steady growth

According to a new report from IHS, the global multi-criteria fire detector market was worth nearly $265 million in 2015 and is expected to grow at a compound annual growth rate 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. Siller said these detectors have become more common throughout the market for three reasons:

1. The increasing number of mixed-use facilities has created demand for detectors that can function in complex environments, while meeting the demand of multiple customers. For example, the increasing number of facilities that combine retail, restaurants, and lodging create unique challenges for building owners and fire detector manufacturers. 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.
2.  IHS found that the trend to multi-criteria detectors is mainly caused by customers desire to reduce the number of detection devices installed in their facilities. The fact that fire systems in most instances continue to be a “must” purchase by law, means some end-users want to see fewer detectors installed in their facilities. Because of this situation, multi-criteria detectors are more often being specified in projects where aesthetics are a concern.
3.  The price of multi-criteria detectors continues to decline, as more systems are installed and competition in the fire detection market increases. IHS found that declining prices are contributing to more rapid adoption of multi-criteria detectors, as some customers that were once priced out of this market have now started to realize the value of this detector type.

“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,” wrote Siller. “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.”

Click here for more information about the new Fire Detection & Suppression Report from IHS.