Smoke Detector Market - Forecast(2021 - 2026)

 According to the International Association of Fire and Rescue Services, in 2017, 3.2 million cases of fire were reported globally and it led to 16,808 casualties and 47,948 fire-related injuries. Considering these losses, major number of residential and commercial buildings are equipped with smoke detectors. Increase in real estate infrastructures will boost the opportunities for smoke detector market growth.  The market size for global smoke detectors market was assessed as $2.14 billion in 2018. Moreover, the market is projected to witness an upsurge in revenue at a CAGR of 8.65% during forecast period 2019-2025.

North America is identified as the most lucrative region for the smoke detector market, with 35.67% of the total smoke detector market share in 2018. Smoke detectors or smoke alarms are prevalent in the region due to strict government regulations. One such regulation is The National Fire Alarm Code (NFPA72) which defines model codes and standards for smoke alarm performance and safety.

According to the norms listed in the National Fire Protect Act (NFPA), about 97% of the total U.S. residents among the surveyed households reported the availability of at least one working smoke alarm in their home. Reports from the same source suggest that the instances of reported fire accidents declined significantly during 1977 to 2017 due to wide adoption of smoke alarms and smoke detectors. According to the International Association of Fire and Rescue Services, in 2017, 1.35 million cases of fire were registered in the U.S. alone. Hence, high adoption of smoke detectors in the U.S. encourages companies to provide cyclic maintenance to ensure proper functioning of smoke detectors. Thus, demand for new smoke detectors along with the maintenance of the existing ones is creating opportunities in the smoke detector market of the region. 

Smoke Detectors Market Outlook:

Smoke detectors, smoke alarms, or fire alarm system are devices used for sensing smoke. The fire alarm control panel detects smoke and indicates the people about potentially developing fire. Type of smoke detectors available in the marketplace are optical smoke detector, photoelectric smoke detector, ionization smoke detector, and dual sensor smoke detector.

Commercial infrastructure, under end-user industrial infrastructure segment is the most lucrative application segment of the market that is projected to grow at a CAGR of 9.87% by 2025. Installing smoke detectors in commercial complexes such as airports, railway stations, hospitals, and malls is inevitable to avoid huge losses with respect to property and large number of injuries.

Smoke Detectors Market Growth Drivers

· According to the International Financial Corporation (IFC), approx. 75% of the infrastructure that will exist in 2050 has yet to be built. Hence, huge influx of upcoming infrastructure will boost the demand for smoke detectors

· High number of favorable government policies in both the developed and developing nations related to smoke detectors in numerous end-user sector is playing a major role in the smoke detector market growth. 

Smoke Detectors Market Trends

· Smoke detector in vehicle: Automobile industry is one of the fastest growing industries. According to the International Organization of Motor Vehicle Manufacturers, automobile production stats surpassed the mark of 95 million in 2018. According to the National Fire Protection Association, around 174,000 cases of highway vehicle fire were recorded in the United States which led to 445 casualties and a monetary loss of $1.2 billion in 2015. Such instances have forced the manufacturers to install smoke detector system in vehicles for preventing fire hazards in the vehicle.

Smoke Detectors Market Key Players Perspective –

The key players with major share of smoke detectors market 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.

Smoke Detectors Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the smoke detectors market. The assessment include forecast, an overview of the competitive structure, market shares of competitors, and market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The smoke detectors market research report also analyze the application of smoke detectors in various sectors such as real estate, small and medium-sized business, and others.

Smoke Detectors Market Report: Industry Coverage

The smoke detectors market report identified the current trends, opportunities, and challenges in the industry along with a detailed depiction of strategies by the existing market players.

The report also provides facts, figures, and statistics about different types of smoke detectors and their use in various sectors.

The report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia.

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