The Global Smoke Detector Market is estimated to grow at a CAGR of 8.3% during the forecast period 2020-2027. As per the detailed market study, the smoke detector industry is anticipated to reach $3.4 billion by the end of the year 2027.
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Smoke detector is an instrument that use to identifying the smoke. In case of a fire emergency, the system can trigger alarms and activate safety systems. There are different kinds of smoke detectors available in the market, which include ionization smoke detectors and photoelectric smoke detectors and the combination of both.
The Global Smoke detector market is driven by various growth factors such as growing awareness regarding fire safety and the dangerous outcomes of fire outbreaks resulting in rising demand for use of smoke detectors as a cost-efficient alternative for fire prevention. In addition, rising consumer spending on construction activities due to rising global disposable income is driving global smoke detector market. However, requirement of high cost for installation and the complication in installation smoke detectors is hampering the growth of the smoke detectors market.
Geographical Overview of the Global Smoke Detector Market
The Europe Smoke Detector market is attaining fastest growth rate over the forecast period. Moreover, North America is estimated to hold the largest smoke detector market share throughout the study period. The major driver for the region is availability of favourable policy to prevent fire accidents in the region that pulls demand for smoke detector equipment. For instance, an entity of the Department of Homeland Security's Federal Emergency Management Agency, the US Fire Administration (USFA) is dedicated in the prevention, preparedness, and response by providing national leadership to local fire and emergency services. They have laid out foundations and regulations for installing smoke detectors in new and existing homes throughout the United States.
Segmentation Overview of the Global Smoke Detector Market
The global smoke detector market is categorized on the basis of various market segments that include installation type, product type and end-user. These major segments are further categorized into various sub-segments to study the market in detail.
The Installation Type Segment of the Global Smoke Detector Market is Sub-Segmented into:
- Hardwired Smoke Detectors
- Battery-operated Smoke Detectors
The Product Type Segment of the Global Smoke Detector Market is Sub-Segmented into:
- Ionization Smoke Detectors
- Photoelectric Smoke Detectors
- Dual Sensor Smoke Detectors
The End-user Segment of the Global Smoke Detector Market is Sub-Segmented into:
- Oil, Gas &Mining
Competitive Landscape of the Global Smoke Detector Market
Ceasefire Industries Pvt. Ltd., Hochiki Corporation, Honeywell International, Johnson Control, Nest labs, Protec Fire Detection Plc, Robert Bosch GmbH, SECOM CO., LTD., Schneider Electric, Siemens AG, United Technologies Corporation are some major key players included in the research study of the global smoke detector market. The market players are adopting various competitive strategies to hold the majority of the market share of the global smoke detector market. For instance, in July 2018, Hochiki Corporation launched FIREscape+ innovative system, which combines fire detection, emergency lighting, and wayfinding technology through its Europe-based subsidiary Hochiki Europe.
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