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Smoke Detector Market Size, Share & Industry Analysis, By Technology Type, By Application, and Regional Forecast, 2019-2026

Pune India, Feb. 15, 2021 (GLOBE NEWSWIRE) — The global smoke detector market size is projected to reach USD 3,380.8 million by 2026, exhibiting a CAGR of 7.5% during the forecast period. Rising number of fire accident cases across the globe will be a major growth-driving factor for this market, observes Fortune Business Insights™ in its recent report, titled “Smoke Detector Market” Size, Share & Industry Analysis, By Technology Type (Photoelectric, Dual Sensor, Ionization and Others), By Application (Commercial, Industrial and Residential), and Regional Forecast, 2019-2026”. According to a study conducted by Institute for Health Metrics and Evaluation at the University of Washington, fire-related accidents caused nearly 9 million injuries and were responsible for over 120,000 deaths worldwide in 2017. The injuries were highest in the 5 to 30 years’ age group and burns affecting less than 20% of the body emerged as the leading cause of disability among the heat-associated accident victims. The study further notes that majority of fire injuries occur in low- and middle-income countries. These findings are evidence that greater and more efficient measures need to be implemented to prevent such accidents and this factor is expected to lead the smoke detector market trends in the coming years.To get to know more about the short-term and long-term impact of COVID-19 on this market,
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The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.The report states that the value of the market stood at USD 1,904.4 million in 2018. The report additionally provides the following:Comprehensive evaluation of the current and expected market trends and opportunities;Careful segmentation of the market and thorough study of the individual segments;In-depth analysis of the market drivers and restraints; andDetailed research into the regional and competitive dynamics of the market.
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Market DriverAccelerated Pace of Construction Activities Globally to Fuel the MarketOne of the key factors fueling the smoke detectors market growth is the heightened pace at which construction activities around the world are being carried out. Data analysis by Oxford Economics and GCP Global forecasts that by 2030 world construction output will hit USD 15.5 trillion, surging at a rate of 85%. Majority of this rise, around 57%, will be accounted for by China, India, and the US, the analysis suggests. To ensure safety of buildings and its inhabitants, adequate fire prevention measures are required and smoke detectors play a vital role in this regard. Not only do they provide a psychological comfort to people within a building, but they also aid in early evacuation in case of fires, thus saving lives and mitigating the possibility of severe injuries. Thus, rising rate of construction across the globe will augur well for this market.Regional AnalysisIncreasing Investment in Infrastructure to Propel North America to a Leading PositionIn terms of revenue, North America generated USD 588.5 million in 2018 and the region is anticipated to lead the smoke detector market share during the forecast period. This is mainly attributable to the heavy investments made in the infrastructure sector, strongly backed by the US government. Other than this, spreading awareness about fire safety measures and higher spending capacity of citizens will further propel the market in the region Increasing number of residential and commercial projects in India and China will enable Asia-Pacific to grow at a considerable rate, while the market in Africa will be driven by the rapid pace of urbanization and industrialization.
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Competitive LandscapeIntroduction of Products with Superior Capabilities to Stimulate Intense CompetitionThe smoke detector market forecast predicts a highly dynamic period for the market as key players develop and launch advanced products with superior capabilities. Through these launches, companies are aiming at entrenching their position in this market and expanding their global presence.Industry Developments:September 2019: Bosch, the German engineering giant, launched the Smart Home Twinguard, the company’s newest smart fire protection system. The system can be linked to smoke alarm devices and has embedded within it alarm siren for burglaries and an air quality sensor. In case of fire, the device will activate all cameras in the house and can be integrated with Bosch Smart Home System.August 2019: The American MNC Honeywell International unveiled the VESDA-E VES Smoke Detectors, its advanced smoke detection system featuring zoning capabilities. The aspirating fire detectors enable division of the concerned areas into four zones that will ensure early detection of threats and send out early warning signals to the residents. Moreover, the system also is designed to reduce overall cost of ownership.       List of Companies Covered in the Smoke Detector Market Report:NestUnited Technology CorporationHuaweiRobert BoschHoneywell International Inc.Hochiki Corp.ABBSchneider ElectricSiemensJohnson Controls
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Table of ContentIntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging Trends of MarketKey InsightsMacro and Micro Economic FactorsConsolidated SWOT Analysis of Key PlayersPorter’s Five Forces AnalysisGlobal Smoke Detector Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Sizing Estimations and Forecasts – By Technology Type (Value)PhotoelectricDual SensorIonizationOthers (ASD, etc.)Market Sizing Estimations and Forecasts – By Application (Value)CommercialIndustrialResidentialMarket Analysis, Insights and Forecast – By Geography (Value)North AmericaEuropeAsia PacificMiddle East and AfricaLatin America
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