360 MARKET UPDATES Report provides a 360-degree overview of the global Smoke Detectors Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Smoke Detectors Market – Growth, Trend and Forecasts (2018 – 2023)”
Global “Smoke Detectors Market” is expected to register a CAGR of approximately 10.02% during the forecast period of (2018 – 2023). Also, Smoke Detectors Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Smoke Detectors Analysis.
Smoke Detectors market Report provides a 360-degree overview of the global Smoke Detectors market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Smoke Detectors Market Report Covers Leading Manufacturers: 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.
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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 CPSCâs 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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Reasons to Purchase Smoke Detectors Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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