“Global Smoke Detector Market: Global Demand Analysis & Opportunity Outlook 2021”
The global smoke detector market has been segmented into photoelectric smoke detectors, dual sensor smoke detectors, ionization smoke detector and others. Among these segments, the photoelectric smoke detectors and dual sensor smoke detectors dominate the global smoke detector market as compared to ionization smoke detector and are accounted for leading part of overall market share. Smoldering fires in domestic and commercial sectors is one of the major causes behind fire deaths. These flames can only be detected by dual sensors or photoelectric smoke detectors. This factor is envisioned to strengthen the growth of global smoke detector market.
The global smoke detector market is estimated to grow from USD 1.36 Billion in 2015 to USD 2.31 Billion with CAGR of around 5.22% during 2015-2021. Factors such as increase in number of fire accidents furthering the need of smoke detectors are anticipated to drive the demand for global smoke detector market in near future.
In the regional segment, Asia Pacific is projected to surpass North American smoke detector market in the estimated period 2015-2021. China, India, Singapore and New Zealand smoke detector markets are likely to witness maximum growth in near future while Europe smoke detector market is expected to grow at faster rate owing to increasing expenditure on infrastructure by organizations in the upcoming years.
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Moreover, evolution in technology, inventions in smoke detectors combined with cumulative support and initiatives from government federations has anticipated a boom in global detector smoke market.
Growing Demand for Safety Equipped Infrastructure
Growing concern for safety regarding fire accidents is major concern behind the flourishing of global smoke detector market. Further, with rising concern for preventing fire accidents is expected to fuel the use of smoke detectors in various sectors such as automotive industries, hotels, educational institutions, entertainment industries, food & beverage companies, commercial buildings and other residential & corporate buildings. This factor is expected to benefit the expansion of global smoke detector market with a rapid speed.
However, high installation cost and annual maintenance charges, stringent government regulations for fire prevention, un-organized market etc. are few of the major challenges to restrain the growth of global smoke detector market in forecast period.
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The report titled “Global Smoke Detector Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global smoke detector market in terms of market segmentation by product, power source, services, end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smoke detector market which includes company profiling of Nec Corporation, Honeywell, Siemens, Hochiki America, Tyco, UTC, Johnson Controls and Hitachi.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smoke detector market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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