Smoke Detector Market is Anticipated to Growth at a CAGR of 8.7% During the Forecast Period 2018-2023 | Million Insights

Smoke Detector Market is Anticipated to Growth at a CAGR of 8.7% During the Forecast Period 2018-2023 | Million Insights

PR Newswire

FELTON, California, December 11, 2018

FELTON, California, December 11, 2018 /PRNewswire/ --

Global Smoke Detector Market is anticipated to witness exponential growth in the forecast period. Smoke detectors are the devices that sense the primary products of combustion combined with the other vital components, such as carbon dioxide, carbon monoxide, heat, steam, different oxygenated organics, and burning hydrocarbons.

The factors that propel the growth of the market include growing number of government mandates regarding installation of smoke detectors in residential division, technical developments, growing applications of smoke detector, rapid industrialization, rise in the fire-associated expenditure by the enterprises and rise in deaths & loss of properties.

Browse research report with TOC on "Global Smoke Detector Market" at: https://www.millioninsights.com/industry-reports/smoke-detector-market

On the other hand, there are factors that may hamper the growth of the market including high annual maintenance charges, un-organized market, high installation cost, and stringent government regulations for fire prevention. Smoke Detector Market is anticipated to grow at a significant CAGR of 8.7% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The market could be segmented based on technology type, mechanism type, application, end user, and geography. The market may be explored by technology type as Photoelectric Smoke Detector, Ionization Smoke Detector, Video Smoke Detection, Aspirating Smoke Detector, and Projected Beam Smoke Detector. The "Photoelectric Smoke Detector" segment led the market in 2017 and is anticipated to maintain its dominance over forecast period. Based on mechanism type, the market may be classified as Hardwired without Battery Backup, Hardwired with Battery Backup and Battery Powered.

The key applications that could be explored in the Smoke Detector Market include Industrial and Residential. The "Residential" segment led the market in 2016 and will continue to lead in the forecast period. The key factor that may attributed to the growth of market includes rising necessity for quick fire alert in the residential buildings.

The market could be explored based on end user as Manufacturing, Commercial, Telecommunication, Automotive, Oil & Gas, Residential, and Others. The "Commercial" segment led the market in 2016 and is anticipated to maintain its dominance over forecast period. Commercial segment held the major market share and residential sector could experience the highest development in the years to come. The key factor that may attributed to the growth of market includes surge in the number of government mandates in the emerging countries.

North America accounted for the major share of the market size in 2017 and will continue to lead in the forecast period. The key factor that could be attributed to the growth includes utilization of progressive technology in the manufacture of smoke detectors. North America is followed by the Asia-Pacific region owing to an increase in the infrastructural investment, increased consciousness among people, and rapid urbanization.

Some of the key players that fuel the growth of the Smoke Detector Market comprise Honeywell Security, Kidde, Tyco, BRK, Johnson Controls, Halma, Xtralis, Sprue Aegis, Ei Electronics, Panasonic, Halma, Siemens, X-SENSE, Nest, Nohmi Bosai, Hekatron, Gulf Security Technology, Shanghai Nohmi Secom, Busch-jaeger, Smart wares, System Sensor, Forsafe, Shanying Fire, Shenzhen Gabel Electronics and D&K Group International. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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