HYDERABAD: Indian fire and gas detection systems market will expand to Rs 1,620.85 crore by 2013, according to a new survey from market research firm Frost & Sullivan. It was worth Rs. 716.5 crore in 2008.
The growth of the IT and IT-enabled services sector, one of the major end-users of security services, will help the market, it said, adding that telecom, railways and airports sectors offered a big opportunity for the fire detection equipment market while the industrial sector stimulates the gas detection equipment market.
Such heightened demand for security has placed greater pressure on the supply market to grow in tandem, overcoming the issues of high costs and low budgets, the company said in a release.
The market is expected to exhibit new usage patterns and participants will have to figure out ways to cope with them and use them to their advantage. The report cites the emergence of liquefied petroleum gas or compressed natural gas as alternate fuels in commercial and residential sectors.
However, of late, the use of gas pipeline for gas supply in residential complexes has improved, promoting the growth of gas detection systems.