Smoke Detectors Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Smoke Detectors market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Smoke Detectors Market report is anticipated to register a CAGR of 10.02% over a five years forecast period (2018 – 2023).”
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List of Major Key players operating in the Global Smoke Detectors Market are –
- Hochiki Corporation
- Kidde Fire Safety
- Honeywell International Inc.
- Hitachi Ltd.
- Schneider Electric Co.
- Johnson Controls
- Tyco International Plc.
- Gentex Corporation
- Siemens AG
- Mircom Group and MSA Safety Inc.
The smoke detector market was valued at USD 1.58 billion in 2017, and is expected to reach USD 2.80 billion by 2023, at a CAGR of 10.02%, over the forecast period (2018 – 2023). Regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Smoke detectors are sensing devices used in combating fire by signaling any instance of smoke occurrences. They are installed in industrial, residential, and commercial sectors. Smoke Detectors transmit a signal to the fire alarm control panel, whereas household smoke detectors send out visual or audible alarms. Infrastructural development, such as the construction of hotels, residential and corporate buildings, educational institutions, entertainment buildings, and other commercial buildings, require fire protection. This is expected to increase the demand for smoke detectors, during the forecast period, thus, aiding in the growth of the market. Increasing pressure from governments of various countries to use smoke detectors in all establishments is also expected to be a driver for the smoke detector market. However, complexities associated with the installation of smoke detectors is expected to restrict the growth of smoke detector market, during the forecast period.
Government Initiatives to Install Smoke Alarms to Aid the Market Growth
The need to ensure the safety of workers and protection of buildings, while trying to avoid a production halts during fire incidents (which not only caused death but also damaged the properties), governments and the other associations, in many countries, have made it mandatory to install smoke detectors. Rapid growth of the construction sector is also contributing to the increased usage of smoke detectors. In the United States, the Department of Consumer and Regulatory Affairs (DCRA) is working to educate public about new guidelines and requirements of smoke and carbon monoxide alarm detectors in residential buildings. In 2016, around 2,000 lives lost in residential fires in the United States, according to the Consumer Product Safety Commission (CPSC), United States. The governmental organization has set up standards and code activities for smoke alarms. These activities support CPSC’s strategic goal of reducing the mortality rate due to fire-related causes.
The Residential Smoke Detector Segment are expected to witness a Significant Growth Rate, over the Forecast Period
Due to increasing incidences of residential fires, smoke and fire detectors have witnessed increased adoption in households. NFPA 72 is adopted by virtually every community in the United States, through their residential, fire, and building codes. This creates a need for smoke alarms inside every sleeping room. Moreover, the increasing adoption of connected devices, tablets, wearable devices, and smartphones among consumers and enterprises is expected to aid the growth of the residential smoke detector market. Increasing adoption of smart homes in many countries is also expected to increase the demand for residential smart smoke detectors. Builders in developing countries are also installing these detectors in residential buildings due to safety and security concerns.
North America accounted for a Significant Share in the Market
There is a rising trend toward video-based smoke detection. Considering the technical expertise of the region, companies are investing in the the video-based fire detection systems market. Also, due to rising fire hazards and accidents in the region, especially United States, smoke detectors are widely being adopted. The awareness about harmful effects of poisonous carbon monoxide (CO) through national fire protection association (NFPA) and the US Consumer Product Safety Commission (CPSC) is also aiding the growth of the smoke detector market in North America
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Scope of the Report:
The report analyses Smoke Detectors market, which includes –
- Analysis of the growth of Smoke Detectors market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Smoke Detectors market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Smoke Detectors market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Smoke Detectors market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Smoke Detectors Market Report:
- Varying dynamics of the Smoke Detectors industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
- Smoke Detectors market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Smoke Detectors market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Smoke Detectors Market Report:
- The report analyses how stringent emission control norms will drive the global Smoke Detectors market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Smoke Detectors market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Smoke Detectors:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023
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