Market Research Future (MRFR) reveals that the global smoke alarm market is likely to expand at a CAGR of 8.53% over the forecast period of 2017 to 2023. In 2017, Smoke alarms act as a preventive measure to avoid the brutal consequences of fire. As a result, smoke alarms are forming an integral part of every modern constructions and being intergrated in those existing. The market is noted to capitalize on these factors.
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Rise in industrial activities, especially in the manufacturing industry, is encouraging heavy deployment of machinery, which is increasing the risk for occupational accidents that can be caused due to fire. Hence, all factories are installing smoke detectors as a preventive measure for their workers. This is expected to boost the global smoke alarm market. Governments, across the world, are releasing residential safety regulations that assert installation of smoke alarm in every residential space. This factor is also expected to favor the smoke alarm market growth.
The American Red Cross, a humanitarian organization in the United States, and Spectrum, a brand that operates under Charter Communications, Inc which is an American telecom company, paired up to provide smoke detectors in every home in Rochester.
NEC Corporation (Japan), Protec Fire Detection PLC (UK), Johnson Controls Inc (US), Robert Bosch GmbH (Germany), Schneider Electric (France), Nest Labs (US), United Technologies Corporation (US), Legrand (France), Siemens AG (Germany), Halma Plc (UK), Newell Brands (US), Honeywell International (US), Hochiki Corporation (Japan), Minimax Viking GmbH (Germany), Secom Co., Ltd (Japan), Schrack Seconet AG (Austria), Gentex (US), and Ceasefire Industries Pvt. Ltd. (India) are some of the strong contender that are profiled by MRFR.
The global market of smoke alarm has been segmented on the basis of power backup, sensor technology, and end-user. By sensor technology, the market has been segmented into photoelectric smoke alarms, combination or dual sensor smoke alarms, and ionization smoke alarm. Combination or dual sensor smoke alarms provides better precision in detecting smoke and are easily disposable. As a result, the sale of these detectors are high. The combination or dual sensor smoke alarms segment is expected to thrive at high CAGR owing to these merits. By power backup, the market has been segmented into hardwired, hardwired with battery backup, and battery powered. By end-user, the market has been segmented into hospitality (hotel or leisure), academia and institutional, residential, healthcare, retail, manufacturing, BFSI, transportation and logistics, and others. MRFR states that throughout the review period, the residential segment is expected to grow at a high CAGR. The residential segment is estimated to dominate the market across the forecast period.
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By region, the smoke detector market has been analyzed in Asia-Pacific, North America, Europe, and the Rest of the World (RoW). The existence of renowned smoke alarm producers and strict government regulations on residential safety are factors that are expected to boost the North America market. The high rate of adoption of smoke alarm by different industry to ensure the security of their employees in both corporate space and factories is likely to gain traction for the Asia Pacific market. Expansion of commercial areas such as hotel, hospitals, pharmaceuticals, malls, and institutions and the high adoption of smoke alarm in these sectors are factors that are likely to surge the APAC market.
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