The global smoke detectors market size is expected to grow from USD 2.3 billion in 2022 to USD 3.4 billion by 2027, at a CAGR of 8.2%. The growth of the market is attributed to the rising fire-related expenditure of various enterprises and increase in the deaths & loss of properties. However, high replacing cost associated with replacing traditional smoke detectors with smart smoke detectors is restraining the market growth.
The smoke detectors market has promising growth potential due to several factors, including the rising adoption of smart smoke detectors by various end-use industries. Government across the globe is supporting the installation of smoke detectors in buses, coaches, and specialty vehicles, which is expected to boost the penetration of optical smoke detectors.
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Based on power source, the market is segregated into battery-powered, hardwired with battery backup, and hardwired without battery backup. The hardwired with battery backup is projected to be the largest growing segment of the smoke detectors market. A battery-powered smoke detector needs frequent battery replacements as the battery gets exhausted after a specific period. As a result, the demand for hardwired with battery backup smoke detectors is gaining popularity. Smoke detectors in this category are photoelectric, ionization, or dual sensor. The interconnection of a smoke detector with other smoke detectors or alarms is wired or wireless.
Based on type, the market is segregated into photoelectric smoke detectors, ionization smoke detectors, dual-sensor smoke detectors, beam smoke detectors, and other smoke detectors. The photoelectric smoke detectors segment held the largest share of the market in 2021. Photoelectric smoke detectors are typically installed in large commercial and social settings, such as auditoriums and gymnasiums, where there are highly combustible materials. Besides, the adoption of these detectors is increasing rapidly as they are easy to install, cost-effective, and provide accurate detection of a smoldering fire. The market for these detectors is growing at a higher rate in the residential sector.
Based on service, the market is segmented into engineering services, installation & design services, maintenance services, managed services, and other services. The maintenance services segment is dominating the smoke detectors market in 2021. For proper and smooth functioning of smoke detectors, it is mandatory that maintenance services are carried out at specific time intervals. Besides, maintenance of smoke detectors is essential for early detection of any kind of fire threat to give sufficient time for evacuation and avoid loss of life and property. Hence, maintenance services are demanded frequently by the end-users of the smoke detectors, which is responsible for the growth of the segment.
Based on end-use industry, the market is segmented into commercial; residential; manufacturing; oil, gas, & mining; transportation & logistics; telecommunications; and other industries. The residential is projected to be the largest growing industry segment of the smoke detectors market. The developed economies have set up policies for the mandatory installation of residential smoke detectors, which attributes to the highest growth of this segment. Besides, the overall increase in population across the world has propelled the need for housing, thus driving the growth of the construction industry. This results into increase in the residential sector construction and are expected to contribute to the smoke detectors market.
The smoke detectors market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2021, North America held the largest share of the smoke detectors market with only the US capturing more than 59% of the overall market. The high demand for smoke detectors in North America is mainly attributed to the rising number of fire deaths in residential spaces in key states, such as Texas, Florida, and California. Apart from the increasing fire deaths in the US, which is a significant market driver, the initiative and monetary support from the government is increasing awareness and adoption of smoke detectors in the region. On the other hand, 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 Business Research Company’s latest report Smoke Detectors Global Market Report 2020 covers Smoke Detectors market drivers, Smoke Detectors market trends, Smoke Detectors market segments, Smoke Detectors market growth rate, Smoke Detectors market major players, and Smoke Detectors market size.
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It is expected to grow at a compound annual growth rate (CAGR) of 5.32% and reach $12.41 billion by 2023.The report covers the smoke detectors market’s segments- 1) By Product: Photoelectric Smoke Detector, Ionization Smoke Detector, Dual Sensor Smoke Detector, Others2) By Power Source: Battery Powered, Hardwired With Battery Backup, Hardwired Without Battery Backup 3) By End User: Residential, Commercial, Oil, Gas & Mining, Transportation & Logistics , Telecommunications Manufacturing, OthersAvail up to 50% off on ALL research reports at: https://www.thebusinessresearchcompany.com/global-market-reports Offer applies until Dec 31st.About The Business Research Company: The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research.
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Different smoke detectors that are available in the market serve the sole primary purpose which is the detection of fire.
Just like it is essential to know what type of smoke detectors you need; it is also crucial to know where you need to install them to detect fire quickly and accurately.
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