Smoke Detector Market Size Worth $3.01 Billion By 2025 | CAGR: 8.8%


Posted August 17, 2020 by sitakant

The global smoke detector market size is expected to reach USD 3.01 billion by 2025, according to a new report by Grand View Research, Inc.

 
The global smoke detector market size is expected to reach USD 3.01 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.8% during the forecast period. Increasing sustainable development in the infrastructure sector coupled with stringent government policies and regulations are projected to surge the application smoke and fire detection devices.
Favorable initiatives and policies framed by the government bodies are anticipated to drive the market growth. Governments from some developed countries offer monetary support for the installation of smoke detectors in residences. These initiatives help increase awareness among customers regarding the importance of smoke and fire detection devices, which in turn is expected to surge the market growth. For instance, the U.S. government have extended support by granting USD 110,000 to the Fire Department of Berrien Springs - Oronoko Township - to increase awareness regarding smoke detectors. This initiative also promotes benefits associated with the product. These measures will boost the scope of application and market growth over the forecast period.
For PDF sample Copy or More Details please visit link @: https://www.grandviewresearch.com/industry-analysis/smoke-detector-market
North America held the largest market share of 31.68% in 2018. Major manufacturers are adopting strategies such as mergers and acquisitions, new product launches, and awareness campaigns. For instance, in June 2018, Kidde launched an awareness creating campaign 'Beat the Beep'. This campaign is important to educate the residents of California regarding the importance of smoke detectors and identifying the situation when a Carbon Monoxide (CO) alarm or smoke alarm needs to be replaced.
Major manufacturers are Kidde; Honeywell International Inc.; Johnson Controls; BRK Brands, Inc.; Siemens AG; Birdi; Hochiki Corporation; Huawei Technologies Co., Ltd.; Xtralis Pty Ltd.; and Robert Bosch LLC. Increasing awareness regarding fire safety in commercial as well as residential buildings is fueling the product demand for the product over the forecast period. The market is competitive in nature owing to the increasing product innovation and R&D activities by the market leaders.
Smoke Detector Market Report Highlights
• In terms of revenue, dual sensor technology is projected to ascend at a CAGR of 9.3% over the forecast years
• Industrial end use led the global smoke detectors market with an overall volume share of over 41.66% in 2018
• North America held the leading market share of 31.68% in 2018. It is anticipated to continue the dominance over the forecast period
• Key players includes Kidde; Honeywell International Inc.; Johnson Controls; BRK Brands, Inc.; Siemens AG; Birdi; Hochiki Corporation; Huawei Technologies Co., Ltd.; Xtralis Pty Ltd.; and Robert Bosch LLC
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Smoke Detector Market Segmentation
Grand View Research has segmented the global smoke detector market on the basis of technology, end use, and region:
Smoke Detector Technology Outlook (Revenue, USD Million, 2015 - 2025)
• Photoelectric
• Dual Sensors
• Ionization
Smoke Detector End Use Outlook (Revenue, USD Million, 2015 - 2025)
• Commercial
• Industrial
• Residential
Smoke Detector Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o U.K.
o Germany
• Asia Pacific
o China
o India
• Central & South America
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Issued By sitakant
Country United States
Categories Business , Industry , Manufacturing
Tags smoke detector Market size
Last Updated August 17, 2020