Europe Smoke Detectors Market Forecast 2023-2032

Europe Smoke Detectors Market Forecast 2023-2032

KEY FINDINGS

The Europe smoke detectors market is set to record a CAGR of 8.38% during the forecast period, 2023-2032. The thriving residential building sector is contributing to market demands in Europe. Also, the European nations’ affordable housing initiatives boost market prospects. However, the building construction and civil engineering slump in various nations pose commercial challenges.

MARKET INSIGHTS

Spain, Italy, France, Germany, Belgium, the United Kingdom, Poland, and Rest of Europe are evaluated for the Europe smoke detectors market growth analysis. In Germany, more than people die in fires annually, with fumes constituting 95% of the deaths. Also, 6000 are injured every year and suffer long-term damage to their health. In addition, thirteen German states enacted legislation obligation the installation of smoke detectors, which applies throughout the country. At the same time, the requirements differ according to the state. The state building code of each state determines the authority responsible for installation and maintenance and the rooms where smoke detectors are required. Besides, stringent safety legislation and standards promote the market demands.

In Belgium, residential and infrastructural construction activities picked up in the second quarter of 2021, after a stagnation of 4.7% in 2020. As the economic recovery gains traction, the construction output it set to rise. Accordingly, the growing residential constriction drives the demand for smoke detectors. Furthermore, smoke detectors are necessitated for home modifications, rental properties, and new construction in Belgium. Moreover, as of January 1, 2020, the Flemish government has mandated the smoke detector installations in all private residences. Such aspects boost the market growth.

COMPETITIVE INSIGHTS

Some of the eminent market players include Robert Bosch GmbH, Schneider Electric, Protec Fire & Security Group Ltd, Johnson Controls International, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments