Smoke Detector Market worth 2.52 Bn USD by 2022

Monday 6 June 2016, Amsterdam

According to the new market research report, now available on ASDReports, "Smoke Detector Market by Power Source (Battery Powered, Hardwired With Battery Backup, Hardwired Without Battery Backup), Product (Photoelectric, Ionization, Dual Sensor, & Other Detector), End-User Industry, Service, and Region - Global Forecasts to 2022", the total market is expected to grow from USD 1.31 Billion in 2015 to USD 2.52 Billion by 2022, at a CAGR of 9.2% during the forecast period. The smoke detector market is driven by factors such as Increasing support and initiatives from government bodies, and technological advancements and innovations in smoke detectors and their networking.

Dual Sensor detectors to register the highest growth rate; whereas photoelectric detector held the largest share

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.

Commercial sector held the largest market size; and residential sector would experience the highest growth rate

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.