The surge in demands for fire safety devices in offices, public places, and residential areas have propelled the opportunities in the smoke detector market. As per a recent market research report by IndustryARC , the global smoke detector market size reached $2.14 billion in 2018. And, foreseeing the patterns, the global smoke detector market is expected to grow at a CAGR of 8.65% during the forecast period 2019-2025.
This report incorporates all the necessary aspects related to the smoke detector market including the growth drivers, trends, challenges, restraints, and competitive landscape. The report is titled as “Smoke Detector Market: By Power Source (Battery Powered, Hardwired With Battery Backup); By Product (Photoelectric, Ionization, Dual Sensor); By End User (Commercial, Residential, Oil & Gas, Mining and others) & By Region – Forecast (2019 - 2025).”
Smoke Detectors Market: Geographical Analysis & Leading Segments
North America is dominating the global smoke detectors market and accounted 35.67% of the global market share in 2018. Rise in installation of fire alarm system and fire alarm control panel in residential areas is influencing the demand of smoke detectors in the region. Moreover, the region accommodates countries such as the United States with stringent government policies regarding fire hazards. Increasing urban population in North America with rising disposable income is augmenting the demand for habitat and spaces equipped with safety features such as smoke detector.
Considering the applications, the highest demand for smoke detector system was observed from commercial infrastructures, and the segment is projected to grow at CAGR of 9.87% through the aforementioned forecast period. Public places such as airports, railway station, hospitals, and malls are prone to fire hazards, an undetected fire in these places could lead to significant financial, and personal losses. To prevent such disasters, commercial places are ensuring the pre-installation of smoke detectors that in turn boost the profits of global smoke detectors market.
Smoke Detectors Market Trends and Growth Drivers
· Prolific Demands from Construction Industry: Rising construction globally is fueling the growth in the market. According to the Global Construction Perspective and Oxford Economies, the global construction market is projected to reach $8 trillion by 2030. The newly constructed infrastructures are anticipated to follow the safety norms implemented by the government for the safety from fire hazards. This is further expected to increases the demands in the global smoke detectors market.
· IoT Enabled Smoke Detectors: IoT enabled smoke detectors can be developed in customized form. IoT enabled smoke detectors can be operated by user through their mobile phones and get notified in case of any hazards.
· Smoke Detectors in Vehicles: Special category smoke detectors such as ionization smoke detector, optical smoke detector, photoelectric smoke detector, and dual sensor smoke detector are used in public transports to detect and sense fire. Governments across the globe are encouraging people to use public transport instead of personal vehicles so that carbon emissions and traffic on the roads can be reduced. For this, governments are building a well-connected network of public transport which will further employ a number of smoke detectors that will harness a significant revenue for the key players in the global smoke detectors market.
Smoke Detectors Market: Competitive Landscape
Some of the key
companies identified in the smoke detectors market intelligence report that are
striving to capitalize the customer-base are Ceasefire Industries Pvt. Ltd.,
Hochiki Corporation, Honeywell International, Johnson Control Nest labs, Protec
Fire Detection Plc, Robert Bosch, SECOM CO., Ltd., Schneider Electric Siemens
AG, and United Technologies Corporation.
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