A recent report published by Infinium Global Research on the smoke detector market provides an in-depth analysis of segments and sub-segments
in the global as well as regional smoke detector market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional smoke detector market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecasts, and dollar
values of the global smoke detector market. According to the report, the global
smoke detector market is projected to grow at a CAGR of 7.9% over the forecast
period of 2020-2026.
Smoke detectors are specially designed to detect a fire in
its early stages and alert people. Smoke detectors are usually housed in a small,
round-shaped plastic case, and placed at the roof where there is a possibility of
risks of fire or fire hazards. They offer a central fire alarm system in large
commercial, industrial, and residential buildings, which is powered by the
building power with a battery backup. However, low-frequency audible alarm
signals are majorly in demand as they are more effective than the standard alarm
signal at waking children, young adults, those over 65 years old, and adults
with mild to moderately severe hearing loss. The global market for a smoke
detector is witnessing incredible growth in demand owing to rapid
industrialization and infrastructure development in emerging countries along
with the growing implementation of smoke detectors are the major key driving
Further, stringent government regulations on fire safety,
growing population and increasing consumer awareness about infrastructure
safety and their benefits are boosting the demand for the smoke detector market.
However, high complexity associated with smoke detector installation may hamper
the demand for smoke detectors. Furthermore, technological advancements in smoke
detection equipment and the growing adoption of IoT in the system will escalate the
demand of the smoke detector market in the forecast period. Additionally, the
current concerns over the spread of coronavirus are creating a negative impact
on the demand for smoke detectors in the global market. The COVID-19 outbreak and
the containment measures introduced by the government have severely affected most of the industrial sector. A major decline in production will be
witnessed and this is likely to remain impacted for the short term. However, the temporary shutdown and slowdown of many end-user industries of smoke detector
will decrease the demand for the short term. Nevertheless, rising regulations
on employee safety will propel demand at a good pace in the forecast period.
Geographically, North America held the largest share in
Smoke Detector market in 2019. The US is a key revenue generator in North
America Smoke Detector market. Factors such as growing consumer awareness,
government initiative on infrastructure fire safety, and increasing fire-related
accidents will increase demand for the Smoke Detector market in this region.
However, Asia Pacific will witness rapid growth in the market owing to rapid
industrialization in the region. Moreover, increased fire-related activities of
various enterprises in Asian countries are expected to escalate the demand for
the smoke detector over the forecast period.
The report on the global smoke detector market covers segments
such as installation type, product type, and end-user. On the basis of the installation type, the sub-markets include hardwired and battery-operated. On
the basis of product type, the sub-markets include photoelectric, ionization,
dual sensor, and another detector. On the basis of end-user, the sub-markets
include commercial, residential, manufacturing, telecommunication, automotive,
oil & gas, and others.
The report provides profiles of the companies in the market
such as Honeywell International Inc., NEC Corporation, Siemens AG, United
Technologies Corporation, Hitachi Ltd., Johnson Controls International Plc,
Protec Fire Detection Plc, Robert Bosch, Schneider Electric, and Ceasefire
Industries Pvt. Ltd.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the smoke detector
market. Moreover, the study highlights current market trends and provides
forecasts from 2020-2026. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.