Smoke Detector Market To Grow Enormously with Size Worth $3.01 Billion By 2025 |Grand View Research, Inc.


The global smoke detector market size is expected to reach USD 3.01 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.8% during the forecast period. Increasing sustainable development in the infrastructure sector coupled with stringent government policies and regulations are projected to surge the application smoke and fire detection devices.
Favorable initiatives and policies framed by the government bodies are anticipated to drive the market growth. Governments from some developed countries offer monetary support for the installation of smoke detectors in residences. These initiatives help increase awareness among customers regarding the importance of smoke and fire detection devices, which in turn is expected to surge the market growth. For instance, the U.S. government have extended support by granting USD 110,000 to the Fire Department of Berrien Springs - Oronoko Township - to increase awareness regarding smoke detectors. This initiative also promotes benefits associated with the product. These measures will boost the scope of application and market growth over the forecast period.
North America held the largest market share of 31.68% in 2018. Major manufacturers are adopting strategies such as mergers and acquisitions, new product launches, and awareness campaigns. For instance, in June 2018, Kidde launched an awareness creating campaign 'Beat the Beep'. This campaign is important to educate the residents of California regarding the importance of smoke detectors and identifying the situation when a Carbon Monoxide (CO) alarm or smoke alarm needs to be replaced.

Major manufacturers are Kidde; Honeywell International Inc.; Johnson Controls; BRK Brands, Inc.; Siemens AG; Birdi; Hochiki Corporation; Huawei Technologies Co., Ltd.; Xtralis Pty Ltd.; and Robert Bosch LLC. Increasing awareness regarding fire safety in commercial as well as residential buildings is fueling the product demand for the product over the forecast period. The market is competitive in nature owing to the increasing product innovation and R&D activities by the market leaders.
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https://www.grandviewresearch.com/industry-analysis/smoke-detector-market/request/rs4
Further key findings from the report suggest:
·         In terms of revenue, dual sensor technology is projected to ascend at a CAGR of 9.3% over the forecast years
·         Industrial end use led the global smoke detectors market with an overall volume share of over 41.66% in 2018
·         North America held the leading market share of 31.68% in 2018. It is anticipated to continue the dominance over the forecast period
·         Key players includes Kidde; Honeywell International Inc.; Johnson Controls; BRK Brands, Inc.; Siemens AG; Birdi; Hochiki Corporation; Huawei Technologies Co., Ltd.; Xtralis Pty Ltd.; and Robert Bosch LLC
The technological innovations in the construction industry coupled with the successive development of infrastructure in various developed and developing countries such as U.S., U.K., Germany, China, and India has surged the demand for the smoke and fire detection devices. Inclusion of these safety equipment has improved the safety quotient in infrastructures. Furthermore, with technological advancements, photoelectric and dual sensors devices has improved the response time of the system as well as with the help of latest technology it has effectively reduced the frequency of false alarms. Increasing stringency of regulations regarding fire safety are projected to positively influence the market growth.
The smoke detection devices market is anticipated to witness significant growth owing to increasing frequency of accidental fire in the commercial as well as in residential places. Residential buildings and commercial setups are more prone to damage even by small fire. This factor is anticipated to propel the adoption of smoke and fire detection devices as a mandatory safety equipment in the construction industry. Modern commercial and residential infrastructure includes multiple stories with compact structure which increases the need to install smoke and fire safety devices. Such increasing safety measures in the infrastructural sector is expected to further propel the demand.
One of the key factor anticipated to hider the growth of the market is the high initial installation cost. Moreover, the replacement cost of conventional detection system to a modern detection system also very expensive. In order to address this critical issue, the manufacturers are coming up with retrofitting solutions. These installations are easy and cost effective, which is projected to boost the demand for the modern smoke detection systems among customers.
Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-smoke-detector-market
Grand View Research has segmented the global smoke detector market on the basis of technology, end use:
Smoke Detector Technology Outlook (Revenue, USD Million, 2015 - 2025)
·         Photoelectric
·         Dual Sensors
·         Ionization
Smoke Detector End Use Outlook (Revenue, USD Million, 2015 - 2025)
·         Commercial
·         Industrial
·         Residential
Residential segment is projected to register the fastest CAGR of 9.3% from 2018 to 2025. Increasing population leads to the increasing number of houses across the globe. Governments across the globe are promoting sustainable development which mandates inclusion of smoke and fire protection devices in houses. According to the India Brand Equity Foundation (IBEF), India, real estate of the country is anticipated to reach at a valuation of USD 1,000 million by 2030 from USD 120 million in 2017. This huge development will surge the usage and end use of the fire and smoke detection systems.
Significant growth in urbanization across the globe is projected to fuel the residential fire and smoke safety devices market. According to a report published by the United Nations, approximately 3.8 million people - around 54% of the world population - were living in urban areas in 2014. This population is estimated to grow to 6 million people which is around 66% of the world population by 2050. Other prominent factors contributing to the market growth includes favorable government initiatives, policies, increasing adoption of smart home, and technological advancements in smart home security.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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