With the increasing government funding, the market
for smoke detector would have a positive outlook until the end of 2020,
especially in the residential sector. The governments of most developed
economies provide monetary support for the installation and maintenance
of smoke detectors in homes and buildings. For instance, the U.S.
federal government provided a grant of USD 110,000 to the Berrien
Springs – Oronoko Township Fire Department to raise awareness about
smoke detectors.
Various enterprises across the globe have increased
their expenditure on fire protection for safeguarding infrastructure and
reducing human losses. Enterprises rely on equipment such as smoke
detectors or smoke alarms, fire sprinklers, fire extinguishers, and
other devices for fire protection within their premises. This increase
in fire-related spending by a number of enterprises and SMEs across the
globe is driving the demand for smoke detectors. The spending for smoke
detectors is high in the North American region, followed by Europe and
APAC.
The overall smoke detector market is expected to
reach from USD 1.31 billion in 2017 to USD 2.52 billion by 2022, at a
CAGR of 9.2% during the forecast period. The base year considered for
the study is 2015, and the market size forecast is given for the period
from 2016 to 2022.
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The smoke detector market on the basis of product has
been segmented into photoelectric smoke detector, ionization smoke
detector, dual sensor smoke detector, and others. The cause of fire
deaths in commercial and residential sector is mostly from smoldering
fires, which can only be detected by these photoelectric or the dual
sensors and as a result the market of both smoke detectors is booming.
The market for ionization smoke detectors has a low growth rate because
of their false alarm rate, which have led consumers to disable their
smoke alarms and also the disposal of ionization smoke detectors causes
an additional problem as they contain radioactive materials.
The end-user segment in smoke detector market
comprises commercial sector, residential sector, oil, gas, & mining
industry, manufacturing sector, telecommunication sector, transportation
& logistics, and others. The commercial sector held the largest
size of smoke alarm market in 2015 and is highly regulated sector for
smoke detectors. The smoke detectors installed in commercial space are
regulated by EN54, UL268, CCCF, and others. The increase in the number
of government mandate policies in developed economies to install smoke
alarms at homes and rapid development in the residential construction
across the world is attributing to the high growth of smoke alarms
market for the residential sector.
Market in Europe to grow at the highest rate
The market in Europe is expected to grow at the
highest CAGR during the forecast period. Under the influence of
government mandate policies, the countries in European region such
Austria, France, and Germany are installing smoke alarms in their homes
and is the main reason for the growth of smoke detector market in this
region. Also, North America held for the largest market size of the
smoke detector market in 2015. The high demand for smoke alarms from
this region is mainly attributed to the rising number of deaths by fire,
especially in residential sector, along with the rise in residential
construction in key U.S. states such as Texas, Florida, and California.
Major players in this market are Hochiki Corporation
(Japan), Honeywell International (U.S.), United Technologies Corporation
(U.S.), Tyco (Ireland), Siemens AG (Germany), Johnson Control (U.S.),
Robert Bosch (Germany), NEC Corporation (U.S.), Nest labs (U.S.), and
Schneider Electric (France) among others.
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