NEW YORK, June 16, 2016 /PRNewswire/ -- The smoke detector 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% between 2016 and 2022. The smoke detector market is driven by factors such as increasing number of government mandate policies to install smoke alarms in residential sector, increased fire related expenditure of various enterprises and rise in deaths & loss of properties, and technological advancements have created higher level application for smoke detectors.
"Hardwired with battery backup detectors to witness highest growth during the forecast period"
The battery-powered smoke detectors need to be replaced frequently owing to exhausted battery or disposition of battery chemicals in the enclosure of the smoke detector which needs to be cleaned timely. Therefore, the demand for hardwired with battery backup smoke detector is gaining popularity among the customers and is expected to grow at the highest CAGR during the forecast period
"Europe expected to witness highest growth during the forecast period"
Several European countries have submitted new smoke alarm regulations because of the increasing home fires that are causing many fatalities and casualties every year. The installation of smoke alarm has become obligatory by law in many parts of the Europe such as Austria, France, and Germany. The development and introduction of such laws is a considerable opportunity for manufacturers and installers.
In the process of determining and verifying the market size for several segments and sub-segments gathered through the secondary research, extensive primary interviews with key people were conducted. The break-up of profile of primary participants is as given below:
- By Company Type: Tier 1 – 22%, Tier 2 – 45% and Tier 3 – 33%
- By Designation: C-level Executives – 43%, Manager level – 57%
- By Region: North America – 12%, Europe – 38%, APAC – 25%, RoW – 25%
Due to the rapid development of smoke detector technology along with the Internet of Things, the smoke detector market finds huge opportunity to proliferate in the next six years especially in the residential sector.
Various key players in the smoke detector market profiled in the report are as follows:
1. Hochiki Corporation (Japan)
2. Honeywell International (U.S.)
3. United Technologies Corporation (U.S.)
4. Tyco (Ireland)
5. Siemens AG (Germany)
6. Johnson Control (U.S.)
7. Robert Bosch (Germany)
8. NEC Corporation (U.S.)
9. Nest labs (U.S.)
10. Schneider Electric (France)
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the smoke detector market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on smoke detector offered by the top players in the global smoke detector market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the smoke detector market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for smoke detector across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global smoke detector market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global smoke detector market
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