UK, Ireland, and Southeast Asia Spark Detection System Market 2031
The UK, Ireland, and Southeast Asia spark detection system market size is expected to reach US$ 58.01 million by 2031 from US$ 34.14 million in 2023. The market is estimated to record a CAGR of 6.9% from 2023 to 2031. Integration of IoT is likely to bring new trends in the market during the forecast period.
UK, Ireland, and Southeast Asia Spark Detection System Market Analysis
As spark detection systems can help various industries in fire prevention, their demand is continuously increasing. The wood industry has various high-risk areas that could result in fires or dust explosions, which is one of the major reasons for the rise in the demand for spark detection systems in the industry. In addition, various industries, including manufacturing, woodworking, chemical, and food processing, are continuously facing a rising number of fire incidents in the UK, Ireland, and Southeast Asian countries, which is boosting the growth of the market. Furthermore, the implementation of strict fire safety regulations by governments and regulatory authorities can lead to a rise in the demand for spark detection systems in the coming years. The integration of technologies such as IoT can enable real-time monitoring and data processing, which can significantly enhance the effectiveness of spark detection systems.
UK, Ireland, and Southeast Asia Spark Detection System Market Overview
Spark detection systems are intended to protect industrial processes by preventing ignition sources, such as burning embers, from contacting protected equipment. Sparks are detected and extinguished automatically by the system, with no interruption to process activities. Spark detection systems are utilized in operations where sparks, glowing particles, or other flash points may be introduced into dust filters or other plant units containing flammable materials that are easily ignited. If left unprotected, a single spark can start a fire or explode, harm, or destroy assets. This method is used in several industries, including wood, paper, food, textiles, plastics, recycling, and energy.
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UK, Ireland, and Southeast Asia Spark Detection System Market: Strategic Insights
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UK, Ireland, and Southeast Asia Spark Detection System Market Drivers and Opportunities
Increasing Number of Fire and Dust Explosion Incidents
Industries such as manufacturing, woodworking, chemical, and food processing are continuously facing various incidents of fire and dust explosions. Industrial fires and dust explosions cause numerous injuries, fatalities, and significant economic damages. Incidents in the process industry can cost millions of dollars and disrupt operations globally. Following are some of the fire and dust explosion incidents that occurred in the UK, Ireland, and Southeast Asia.
- In October 2023, crews from Antrim, Ballyclare, Crumlin, Belfast, and Ballymena fire stations were deployed to SAM Mouldings, located on Newpark Industrial Estate, following a major fire at the factory. SAM Mouldings is a major manufacturer of MDF moldings, such as skirting and cladding. As reported by the Antrim Guardian, the fire was sparked by an electrical piece of machinery that spread to the sawdust. Northern Ireland Fire and Rescue Service (NIFRS) added that this resulted in a significant dust explosion.
- In February 2021, in Singapore, potato starch powder was identified as the source of an explosion at an industrial building in Tuas, which left seven injured and three workers dead. Silas Sng, the Commissioner for Workplace Safety and Health (WSH), stated that preliminary investigations had found that the incident at 32E Tuas Avenue 11 was caused by a combustible dust explosion and that the dust in this was potato starch in powder form.
- In December 2021, Edge Markets reported an explosion and fire at a sawdust processing facility in Segamat, Malaysia. Two Fire and Rescue Department officers and a factory emergency response team (ERT) personnel were injured. The fire occurred at the boiler along the pathway for the sawdust.
The growing number of such incidents is propelling the need for effective fire prevention measures, which is boosting the demand for reliable and effective spark detection systems.
Stringent Fire Safety Regulations
Due to the rising number of fire incidents in manufacturing, woodworking, chemical, food processing, and other industries, the government and regulatory bodies are taking various steps to prevent them. For example, the Health and Safety Executive (HSE)'s regulatory frameworks in the UK require the deployment of effective fire safety measures in locations that handle flammable products. Also, in the UK, the Dangerous Substances and Explosive Atmospheres Regulations 2002 (DSEAR) defines regulations related to protection against risks from fire, explosion, and similar events occurring due to dangerous substances used or present in the workplace. Such strict government regulations for fire prevention are expected to raise the demand for spark detection systems in the above industries.
Various organizations in the UK, Ireland, and Southeast Asian countries are taking different initiatives for fire prevention. For instance, in March 2023, the timber industry launched a comprehensive new fire safety website, "Fire Safety. Wood in Construction." This site has been developed as a collaborative project between Swedish Wood, Timber Development UK (TDUK), and the Structural Timber Association (STA), with a commitment to a periodic review and update of the curation process to reflect any changes in regulation, outcomes of the latest research, and industry guidance. n 2023, Vietnam experienced 3,440 fires, which resulted in the loss of 146 lives and 109 injured people. The economic toll was also devastating, with property damage estimated at US$ 36.1 million (VND 878 billion). These results highlight the crucial need for more awareness and stricter fire safety rules. To cater to this problem several strong fire safety regulations are being established. One such standard is National Standard TCVN 3254:1989, which specifies fire safety criteria for both fire prevention and fire protection systems. Hence, such stringent fire safety regulations are expected to fuel the growth of the spark detection system market in the coming years.
UK, Ireland, and Southeast Asia Spark Detection System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the UK, Ireland, and Southeast Asia spark detection system market analysis are type and application.
- Based on type, the UK, Ireland, and Southeast Asia spark detection system market is bifurcated into infrared spark detection systems and ultraviolet (UV) spark detection systems. The infrared spark detection systems segment held a larger market share in 2023.
- In terms of application, the market is segmented into wood-based panel industry, pulp and paper industry, bioenergy, food industry, textile industry, and others. The wood-based panel industry segment held the largest market share in 2023.
UK, Ireland, and Southeast Asia Spark Detection System Market Share Analysis by Geography
- The UK, Ireland, and Southeast Asia spark detection system market is segmented into the UK, Ireland, and Southeast Asia. The UK dominated the market in 2023. Southeast Asia is expected to witness significant growth during the forecast period.
- The wood and furniture business in Southeast Asia includes a broad group of small, medium, and large businesses. Southeast Asia's prominence as a production location is increasing as a result of global changes, notably those in China. Many enterprises are currently transitioning from artisanal to industrial manufacturing. Furthermore, companies in Southeast Asia are very open and receptive to change and future development, and they are quick to adapt and integrate new technologies and working ways, which is a significant factor driving the region's spark detection system market.
UK, Ireland, and Southeast Asia Spark Detection System Market Report Scope
UK, Ireland, and Southeast Asia Spark Detection System Market News and Recent Developments
The UK, Ireland, and Southeast Asia spark detection system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the UK, Ireland, and Southeast Asia spark detection system market are listed below:
- The next generation Atexon Spark Detection and Extinguishing System by IEP Technologies recently received third-party approval from Factory Mutual (FM), meeting the detailed requirements of the latest version of FM 3265:2020. Spark Detection and Extinguishing Systems are widely used to protect and mitigate against fires and explosions in many industrial facilities by continually monitoring for ignition sources (e.g., sparks, embers, hot particles, and overheated fan components) within pneumatic process lines and activating rapidly when required to prevent the potentially serious safety and financial consequences for the plant, the process, and any people working in the vicinity of the operation.
(Source: Atexon, Press Release, May 2023)
UK, Ireland, and Southeast Asia Spark Detection System Market Report Coverage and Deliverables
The "UK, Ireland, and Southeast Asia Spark Detection System Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- UK, Ireland, and Southeast Asia spark detection system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- UK, Ireland, and Southeast Asia spark detection system market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- UK, Ireland, and Southeast Asia spark detection system market analysis covering key market trends, regional and country framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the UK, Ireland, and Southeast Asia spark detection system market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The incremental growth expected to be recorded for the UK, Ireland, and Southeast Asia spark detection system market during the forecast period is US$ 23.87 million.
The UK, Ireland, and Southeast Asia spark detection system market is expected to reach US$ 58.01 million by 2031.
Integration of IoT is anticipated to play a significant role in the UK, Ireland, and Southeast Asia spark detection system market in the coming years.
The key players holding majority shares in the UK, Ireland, and Southeast Asia spark detection system market are Fagus-Gre¬Con Greten GmbH & Co. KG; Fire Shield Systems Ltd; Minimax GmbH; IEP Technologies, LLC; Firefly AB; Fike Corporation; ELECTRONIC WOOD SYSTEMS GMBH; Raille Limited; Blazequel; and BS&B Safety Systems, LLC.
Growing adoption in wood panel industry and increasing number of fire and dust explosion incidents are the major factors that propel the UK, Ireland, and Southeast Asia spark detection system market.
The UK, Ireland, and Southeast Asia spark detection system market was estimated to be US$ 34.14 million in 2023 and is expected to grow at a CAGR of 6.9 % during the forecast period 2023 - 2031.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executives Summary
2.1 Key Insights
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. UK, Ireland, and Southeast Asia Spark Detection System Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
4.4 Pricing Analysis
5. UK, Ireland, and Southeast Asia Spark Detection System Market – Key Market Dynamics
5.1 UK, Ireland, and Southeast Asia Spark Detection System Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing Adoption in Wood Panel Industry
5.2.2 Increasing Number of Fire and Dust Explosion Incidents
5.3 Market Restraints
5.3.1 High Initial and Maintenance Costs
5.4 Market Opportunities
5.4.1 Stringent Fire Safety Regulations
5.5 Future Trends
5.5.1 Integration of IoT
5.6 Impact of Drivers and Restraints:
6. UK, Ireland, and Southeast Asia Spark Detection System Market Analysis
6.1 UK, Ireland, and Southeast Asia Spark Detection System Market Revenue (US$ Million), 2021–2031
6.2 UK, Ireland, and Southeast Asia Spark Detection System Market Forecast and Analysis
7. UK, Ireland, and Southeast Asia Spark Detection System Market Analysis – by Type
7.1 Infrared Spark Detection Systems
7.1.1 Overview
7.1.2 Infrared Spark Detection Systems: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Ultraviolet (UV) Spark Detection Systems
7.2.1 Overview
7.2.2 Ultraviolet (UV) Spark Detection Systems: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
8. UK, Ireland, and Southeast Asia Spark Detection System Market Analysis – by Application
8.1 Wood-Based Panel Industry
8.1.1 Overview
8.1.2 Wood-Based Panel Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Textile Industry
8.2.1 Overview
8.2.2 Textile Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Pulp and Paper Industry
8.3.1 Overview
8.3.2 Pulp and Paper Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Bioenergy
8.4.1 Overview
8.4.2 Bioenergy: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Food Industry
8.5.1 Overview
8.5.2 Food Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9. UK, Ireland, and Southeast Asia Spark Detection System Market – Country Analysis
9.1 UK and Ireland
9.1.1.1 United Kingdom: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.1.1 United Kingdom: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.1.1.1.2 United Kingdom: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
9.1.1.2 Ireland: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.2.1 Ireland: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.1.1.2.2 Ireland: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
9.2 Southeast
9.2.1 UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Countries
9.2.2 UK, Ireland, and Southeast Asia Spark Detection System Market Revenue and Forecast and Analysis – by Country
9.2.2.1 UK, Ireland, and Southeast Asia Spark Detection System Market Revenue and Forecast and Analysis – by Country
9.2.2.2 Indonesia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.2.2.1 Indonesia: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.2.2.2.2 Indonesia: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
9.2.2.3 Vietnam: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.2.3.1 Vietnam: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.2.2.3.2 Vietnam: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
9.2.2.4 Singapore: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.2.4.1 Singapore: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.2.2.4.2 Singapore: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
9.2.2.5 Malaysia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.2.5.1 Malaysia: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.2.2.5.2 Malaysia: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
9.2.2.6 Thailand: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.2.6.1 Thailand: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.2.2.6.2 Thailand: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
9.2.2.7 Rest of Southeast Asia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
9.2.2.7.1 Rest of Southeast Asia: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Type
9.2.2.7.2 Rest of Southeast Asia: UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Application
10. Competitive Landscape
10.1 Company Positioning and Concentration
10.2 Heat Map Analysis By Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 Fagus-GreCon Greten GmbH & Co. KG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Fire Shield Systems Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Minimax GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 IEP Technologies, LLC
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Firefly AB
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Fike Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 ELECTRONIC WOOD SYSTEMS GMBH
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Raille Limited
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Blazequel
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 BS&B Safety Systems, LLC.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
List of Tables
Table 1. UK, Ireland, and Southeast Asia Spark Detection System Market Segmentation
Table 2. List of Vendors
Table 3. UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 6. United Kingdom: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 7. United Kingdom: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 8. Ireland: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 9. Ireland: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 10. UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 11. Indonesia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 12. Indonesia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 13. Vietnam: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Vietnam: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 15. Singapore: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 16. Singapore: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 17. Malaysia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 18. Malaysia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 19. Thailand: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 20. Thailand: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 21. Rest of Southeast Asia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 22. Rest of Southeast Asia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 23. Company Positioning & Concentration
Table 24. List of Abbreviation
List of Figures
Figure 1. UK, Ireland, and Southeast Asia Spark Detection System Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: UK, Ireland, and Southeast Asia Spark Detection System Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. UK, Ireland, and Southeast Asia Spark Detection System Market Revenue (US$ Million), 2021–2031
Figure 6. UK, Ireland, and Southeast Asia Spark Detection System Market Share (%) – by Type, 2023 and 2031
Figure 7. Infrared Spark Detection Systems: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Ultraviolet (UV) Spark Detection Systems: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. UK, Ireland, and Southeast Asia Spark Detection System Market Share (%) – by Application, 2023 and 2031
Figure 10. Wood-Based Panel Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Textile Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Pulp and Paper Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Bioenergy: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Food Industry: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Others: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. United Kingdom: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Ireland: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. UK, Ireland, and Southeast Asia Spark Detection System Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 19. Indonesia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Vietnam: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Singapore: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Malaysia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Thailand: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Rest of Southeast Asia: UK, Ireland, and Southeast Asia Spark Detection System Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Heat Map Analysis By Key Players
The List of Companies - UK, Ireland, and Southeast Asia spark detection system market
- Fagus-GreCon Greten GmbH & Co. KG
- Fire Shield Systems Ltd
- Minimax GmbH
- IEP Technologies, LLC
- Firefly AB
- Fike Corporation
- ELECTRONIC WOOD SYSTEMS GMBH
- Raille Limited
- Blazequel
- BS&B Safety Systems, LLC.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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