Published: Apr, 2018
Rising incidences of various structures catching fire can lead to unwanted accidents and injure employees and residents. In a bid to prevent such instances of such accidents, individuals are willing to spend more on the systems of fire and smoke detection. As smoke alarms make a detection of fire or smoke in the commercial or residential premises, customers can therefore take precautions and evacuate the building so as to avoid accidents. In addition to that, smoke alarms transmit initial signals to alert individuals of a smoke that has been detected.
Hochiki Corporation, Honeywell International, NEC Corporation, United Technologies Corporation, Schneider Electric, Johnson Control, Tyco, Nest labs, Siemens AG, and Robert Bosch are a few of the major market participants amongst others in the world market for smoke detector.
In accordance with its latest market intelligence report, Transparency Market Research makes an assessment of the international smoke detector market which is expected to expand at a growth rate of 6.0% CAGR in terms of value, over the forecast period that extends from the year 2017 to the year 2026. The business intelligence report makes an observation of the international demand for smoke detector which has already been steady over the last few years, and is estimated to be worth more than US$ 2100 million by the end of the year 2026.
Europe to Remain at the Forefront of the Market throughout the Forecast Period
In terms of geography, the world market for smoke detector has been divided into the regions of Latin America, North America, Middle East and Africa, Europe, and Asia-Pacific excluding Japan. The report makes an observation that the Europe will continue to be a market leader in the world market for smoke detector. Taking revenue in consideration, the European market is anticipated to account for a market value of around US$ 700 Mn by the end of the year 2026. However, on the other hand, Asia-Pacific excluding Japan market is prognosticated to experience the fastest growth throughout the period of forecast.
Increasing Demand from Residential Premises to Bolster Market Demand
Various leading companies are emphasizing on making an offer of innovative products that facilitate better managed evacuation procedures and emergency calls. Major companies in the world market are also focusing on offering smoke detector systems that are equipped with dual sensor alarms thereby ensuring constant sensitivity.
Of all industries, the demand for smoke alarms would remain high in the residential segment. In a bid to ensure safety of the residents, most of the makers are emphasizing on coming up with photoelectric smoke alarms as they instantly detect smoke from the fabrics and burning furnishings, and then respond rapidly to smoldering fire accidents. Commercial segment also generates substantial demand for the world market for smoke detector.
The information shared that ahs been in this review is based on a TMR report titled, “Smoke Detector Market (Technology Type - Ionization Smoke Detector, Photoelectric Smoke Detector, Projected Beam Smoke Detector, Aspirating Smoke Detector, and Video Smoke Detection; Mechanism Type - Battery Powered, Hardwired With Battery Backup, and Hardwired Without Battery Backup; Application - Residential, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026”
For the study the market has been segmented as follows:
Global Smoke Detector Market Segmentation
- By Region
- North America
- Asia Pacific Excluding Japan
- Latin America
- Middle East & Africa
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