Global Smoke Detectors Market - Growth, Trend and Forecasts (2018 - 2023)
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
Key Developments in the Market
March 2017 - Honeywell International Inc. had launched its first-ever professionally installed and monitored wireless combination smoke and carbon monoxide (CO) detector for homes. The 5800COMBO is easy for dealers to install when compared to unmonitored detectors, and it helps protect homeowners from multiple dangers through continuous central station monitoring. This detector provides a high level of false alarm immunity, while quickly reacting to smoldering fire
Major Players: 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., amongst others.
Reasons to Purchase the Report
Impact of fire protection expenditure by various industries and enterprises on the smoke detector market
Analyzing various perspectives of the market using Porter’s five forces analysis
Regional analysis of the market
Identify the latest developments, market shares, and strategies employed by major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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