Smoke Detector Market (Installation Type - Hardwired, and Battery-operated; Product Type - Photoelectric, Ionization, Dual Sensor, and Other Detector; End User - Commercial, Residential, Manufacturing, Telecommunication, Automotive, Oil & Gas, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

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.

Market Insight

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 factors.

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.

Segment Covered

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.

Companies Profiled:

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.

Report Highlights:

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.