“Global
Smoke Detector Market Analysis & Opportunity Outlook 2021”
The global smoke detector market
is segmented into product type such as photoelectric smoke detector, dual
sensor smoke detector, ionization smoke detector, others. Among these segments,
dual sensor smoke detector segment is expected to grow at maximum CAGR during
the forecast period. The expansion of the dual sensor smoke detector segment
can be attributed to its capability to detect both fast-flame and smoldering
fires. Moreover, it can be used in industries, commercial buildings as well as
in residential buildings.
Global smoke detector market is
expected to register a 5.2% CAGR over the forecast period. Moreover, the global
smoke detector market was valued at USD 1.4 Billion in 2016 and is expected to
reach at notable revenue of USD 2.31 Billion by the end of 2024. A number of
factors such as increasing constructional activities, rising number of smart
homes and growing technological advancements in fire detecting technologies are
anticipated to drive the growth of smoke
detector market over the forecast period.
The residential segment by end
user is likely to grow at remarkable pace during the forecast period. Rising
safety and security concerns amongst the consumers and growing adoption of
advanced technologies are likely to drive the global market during the forecast
period. However, commercial segment by end user accounted for maximum share in 2015
and is anticipated to witness considerable growth during the forecast period.
Rising number of
deaths by fire
Accidents by fires in residential, industrial and
commercial buildings due to a number of reasons such as poor electric wiring,
overloaded electric systems, smoking of cigarettes, storage of flammable
liquids and other combustibles with insufficient protection and other reasons
are increasing. Further, rising accidents and increasing number of injuries and
deaths by fire are some of the major factors which are fuelling the demand for smoke
detectors in residential, industrial and commercial buildings.
Favourable government
regulations and programme
Government’s regulations
regarding implementation of fire alarms and smoke detectors in buildings in
order to ensure public safety is a major factor which is projected to drive the
growth of smoke detector market during the forecast period. Smoke detectors are
able to detect smoke and alert the house owners in case of smoke or fire. Further,
growing spending by consumers on safety regulations is projected to foster the
growth of this segment during the forecast period.
Although, high installation
cost, annual maintenance charges and un-organized market are some of the
factors that are likely to inhibit the growth of the smoke detector market in
the near future.
The report titled “Global Smoke Detector Market Analysis
& Opportunity Outlook 2021” delivers
detailed overview of the global smoke detector market in terms of market
segmentation by product type, by power source, by services, by end-user type
and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global smoke
detector market which includes company profiling of Honeywell International Incorporation, Siemens AG, Hochiki America
Corporation, Tyco International PLC, United Technologies Corporation, Johnson
Controls International Plc., Hitachi Ltd, and NEST Technologies Corp.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global smoke
detector market that will help industry consultants, equipment manufacturers,
existing players searching for expansion opportunities, new players searching
possibilities and other stakeholders to align their market centric strategies
according to the ongoing and expected trends in the future.
About Research
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its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
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