“Smoke Detectors market to grow at a CAGR of 9.6% from 2022 to 2027”

The smoke detectors market size is expected to grow from USD 2.3 billion in 2022 to USD 3.4 billion by 2027; it is expected to grow at a CAGR of 8.2% from 2022 to 2027. The key factors driving the growth of the smoke detectors market are rising initiatives and support for smoke detectors from government bodies and rising technological innovations in smoke detectors which provides various advantages to the end-use industries.

“Hardwired with battery backup is expected to grow at higher rate from 2022 to 2027”

Hardwired with battery backup smoke detectors operate as a substitute for battery-powered smoke detectors. They are efficient and have battery backups for continuous operation. Hardwired photoelectric smoke detectors and ionization smoke detectors are installed permanently. They are wired to the electrical system of a building and have a backup battery in case of a power outage. The hardwired with battery backup power source is gaining popularity in the recent years, as the battery-powered smoke detectors requires constant maintenance and replacement of batteries.

“Photoelectric smoke detectors to hold largest share in 2021”

Photoelectric smoke detectors are designed to sense smoke by utilizing the effects of smoke on the light. They are installed where the possibility of smoldering fire is more. Smoldering fires are more dangerous to human life than the flaming type. Hence, this type of smoke detector is preferred over other types in a commercial space. Photoelectric detectors are installed in places where the possibility of smoldering fires is more (e.g., commercial spaces). This rising installation of photoelectric smoke detectors in commercial places is responsible for the segmental growth and thus the growth of the market.

“Maintenance services to be the fastest-growing segment during the forecast period”

In industrial and commercial applications, smoke detectors monitor a wide area of a building or warehouse. The effectiveness of smoke detectors in these large areas is significant for the property and its occupants. However, smoke detectors are useful only when they are properly engineered, designed, installed, serviced, and maintained. To function reliably at the time of emergency, it is essential that smoke detectors go under proper servicing and maintenance services. Hence, maintenance services are demanded frequently by the end-users of the smoke detectors.

“Residential end-use industry to hold largest growth rate during the forecast period”

The residential end-use industry is expected to hold the largest market size during the forecast period. Due to the growing concerns related to fire hazards, governments of various countries have made it mandatory to install a smoke detector system in facilities. An increase in the number of government mandate policies in developed economies to install smoke detectors in homes and rapid development in the residential construction worldwide are attributed to the high growth of the market in the residential sector. In the renovation or refurbishment of commercial and residential buildings, smoke detectors are either replaced or re-installed, which is increasing their sales.

“Asia Pacific is expected to capture second-largest market size during forecast period”

The Asia Pacific region is expected to hold the second-largest share of the smoke detectors market during the forecast period. The region has been witnessing growth in urbanization, which has boosted real estate and construction activities. In addition, there have been significant technological and economic advancements. These factors drive the need for enhanced safety of people and property, thereby boosting the demand for commercial smoke detectors. Besides, the emerging economies in Asia Pacific would majorly contribute to the smoke detectors market in the forecast period. The rising awareness and government initiatives in the Asia Pacific countries are expected to boost the adoption of smoke detectors in the region.

The break-up of the profiles of primary participants for the report has been given below:

• By Company Type: Tier 1 = 52%, Tier 2 = 31%, and Tier 3 = 17%
• By Designation: C-Level Executives = 47%, Directors= 31%, and Others= 22%
• By Region:  North America = 33%, Europe = 30%, Asia Pacific = 24%, and RoW = 13%

Major players operating in the smoke detectors market include Carrier Global Corporation (US), Honeywell International Inc. (US), HOCHIKI Corporation (Japan), Johnson Controls International plc. (US), Siemens AG (Germany), Emerson Electric Co. (US), Robert Bosch GmbH (Germany), Schneider Electric (France), ABB (Switzerland), Analog Devices, Inc. (US), BRK Brands, Inc. (US), GENTEX CORPORATION (US), among others.

Research Coverage:

The research report on the global smoke detectors market covers the market based on power source, type, distribution channel, service, end-use industry, and region. Based on power source, the market has been segmented into battery-powered, hardwired with battery backup, hardwired without battery backup. Based on type, the smoke detectors market has been segmented into photoelectric smoke detectors, ionization smoke detectors, dual-sensor smoke detectors, beam smoke detectors, and other smoke detectors. Based on services, the market has been segmented into engineering services, installation & design services, maintenance services, managed services, and other services. Based on distribution channel, the market has been segmented into online and offline. Based on end-use industry, the market has been segmented into commercial; residential; manufacturing; oil, gas, & mining; transportation & logistics; telecommunications; and other industries. The report covers four major regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:

• This report segments the smoke detectors market comprehensively and provides the closest approximations of the overall market size, as well as that of the sub segments across different power source, type, service, distribution channel, end-use industry, and region.
• The report helps stakeholders understand the pulse of the market, expected market scenario and provides information on key market drivers, restraints, challenges, and opportunities.
• The report helps to understand the COVID-19 impact on the smoke detectors market