Smoke Detector Marketis Expected to Reach $3.4Billion by 2027

According to a new report published by Allied Market Research, titled, “Smoke Detector Market by Installation Type, Product Type, and EndUser: Opportunity Analysis and Industry Forecast, 2020–2027,” the global Smoke Detector Market size is expected to reach $3,405.7 million in 2027, from $1,807.0 million in 2019, growing at a CAGR of 8.3% from 2020 to 2027. In 2019, North Americadominated the market, in terms of revenue, accounting for over 36.6% share of the globalSmoke Detector Market size.

Smoke detectors minimize the hazards caused due to accidental fire outbreaks by using an alarm system to detect accumulation of smoke. The smoke detectors may or may not be attached to water sprinklers which turn on with the discernment of smoke, and thereby avoid human and property loss. Fire safety is an important part of building planning and construction, and the stringent governmental laws are making it necessary to installation smoke detection systems in commercial, residential, and industrial structures.Smoke detectors are most widely classified into types, namely, photoelectric smoke detectors and ionization smoke detectors. However, dual sensors smoke detectors are also available, which integrate both photoelectric as well as ionization principles. 

The ionization smoke detectors are more responsive to flaming fires or immediate fires, whereas the photoelectric smoke detectors respond to smoldering fires, which are slowly spread without alarming the occupants. Thus, it is necessary for the engineers to design the fire prevention system considering criteria such as type of possible fire outbreak, size of rooms, number of occupants, type of building, and others to choose the suitable kind of detector. Taking this in consideration, the photoelectric smoke detectors are more widely utilized globally.

Moreover, the European and North American countries are major consumers of smoke detectors and fire prevention equipment in the global smoke detector market industry. The developed countries in these regions have stringent government policies regarding fire safety and prevention, which makes it mandatory for the installation of smoke detectors in commercial, residential, and industrial buildings. Although, the economic growth in the developing countries such as India, China, Brazil, and others in the Asia-Pacific, Latin America, andAfricanregion is creating lucrative opportunities for the implementation of smoke detectors. Based on the endusers, the commercial segment holds the major market share. However, the residential segment exhibits fastest growth rate during the forecast period. 

North Americaaccounted for the highest revenue in 2019 compared to other regions due to growth in consumer spending on construction activities especially in the U.S. and Canada. In Europe, the stringent government laws and regulations are fostering the demand of smoke detector installations; thereby, driving the Smoke Detector Market growth in the region. 

The global Smoke Detector Market is divided on the basis of installation type, product type, enduser, and region. By installation type, the market is bifurcated into hardwired and battery-operated smoke detectors. By product type, it is fragmented into ionization smoke detectors, photoelectric smoke detectors, dual sensor smoke detectors, and others. Based on enduser, the market is classified into commercial, manufacturing, residential, automotive, telecommunications, oil, gas & mining, and others.

The global Smoke Detector Marketanalysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

• By installation type, the hardwiredsegment dominated the global Smoke Detector Marketshare in 2019, in terms of revenue.

• By product type, the photoelectric segment accounted for maximum share of the smoke detector industry in 2019.

• By enduser, the commercial segment generated the highest revenues during 2019 in the Smoke Detector Marketglobally.

• By region, North Americais projected to be one of the most dominant regions and Europe is expected to witness a high growth rate during the forecast period.  

The major players operating in the smoke detectors industry include Ceasefire Industries Pvt. Ltd, Hochiki Corporation, Honeywell International, Johnson Control, Nest labs, Protec Fire Detection Plc, Robert Bosch, SECOM CO., LTD, Schneider Electric, Siemens AG, and United Technologies Corporation.