Global Smoke Detectors Market Forecast 2023-2032

Global Smoke Detectors Market Forecast 2023-2032

KEY FINDINGS

The global smoke detectors market is expected to record a CAGR of 8.31% during the forecast period, 2023-2032. The growing awareness regarding the benefits of smoke detectors, the increasing fire incidences, and the rising fire safety concerns drive market growth.

MARKET INSIGHTS

A smoke detector is an electronic fire-protection device that detects smoke as a primary indication of fire. It produces a visual and audible signal locally in a room or signals a fire alarm system in a large building.

The rising greenhouse gas emissions have led to increased global temperatures, thereby raising the risk of fires globally. Therefore, fires are increasingly prevalent worldwide. Also, according to Verisk, there were over 2 million properties at extreme wildfire risk in 2021 in California.

Further, almost three-quarters of all fire fatalities occur in residential dwellings. Fires kill around 5,500 Americans on average annually. As per the European Fire Safety Alliance, approximately 5000 deaths occur in Europe due to house fires. Accordingly, the growing fire incidences globally have highlighted the need for smoke detectors. As a result, the rising demand for smoke detectors propels the global smoke detectors market growth. However, the market growth is restrained by the high costs of smoke detectors.

REGIONAL INSIGHTS

The global smoke detectors market growth assessment includes the geographical evaluation of North America, Asia-Pacific, Europe, and Rest of World. Asia-Pacific is the fastest-growing region in the global market, attributed to the emerging trend of smart buildings and homes and the rising consumption of internet services.

COMPETITIVE INSIGHTS

The competitive rivalry is high due to companies with large product portfolios. Some of the prominent market players are Ceasefire Industries Pvt Ltd, BRK Brands Inc, Carrier Global Corporation, Google Nest (Google), 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