USD 461.19 Million Growth in Smoke Detectors Market | Increase In Residential Construction to Boost Growth | Technavio

NEW YORK, Dec. 13, 2021 /PRNewswire/ -- The smoke detectors market size will grow by USD 461.19 million from 2020 to 2025, as per the latest market analysis report from Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 4.71% during this period. This market outlook report also offers the impact analysis of various factors driving and challenging the market along with competitive benchmarking of vendors.

Attractive Opportunities in Smoke Detector Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

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Smoke Detectors Market 2020-2025: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Manufacturers are rapidly developing advanced products at low prices to gain major market share in a highly competitive market. To make the most of the opportunities, market vendors are focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Market players are offering innovative products and engaging in partnerships and acquisitions to strengthen their position in the market. For instance, In July 2021, ABB Ltd. acquired ASTI Mobile Robotics Group to drive the next generation of flexible automation with autonomous mobile robots. In October 2021, Carrier Global Corp. had completed the acquisition of Nlyte Software.  

Some of the key market players covered in this report are:

  • ABB Ltd.
  • BRK Brands Inc.
  • Carrier Global Corp.
  • Hochiki America Corp.
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Robert Bosch GmbH
  • Schneider Electric SE
  • Siemens AG
  • Universal Security Instruments Inc.

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Smoke Detectors Market 2020-2025: Drivers and Challenges

The increase in residential construction is notably driving the smoke detectors market growth. There has been a growing emphasis on safety measures, primarily due to accidents and related casualties in residential buildings in recent years. Governments in advanced and emerging economies are increasingly adopting residential safety standards. These growing initiatives of making mandatory safety standards are further likely to influence the smoke detector market demand during the forecast period. In addition, other factors such as growing replacement demand and stringent regulations supporting improved fire safety standards are also expected to influence the market positively during the next few years.

However, disposal of smoke detectors, late or no set-off of smoke detectors, and increase in price wars among existing vendors are some of the key challenges that are expected to hinder the market's growth in forthcoming years.

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Smoke Detectors Market 2020-2025: Segmentation

  • End-user
    • Commercial And Public
    • Residential
    • Industrial

The smoke detectors market share growth by the commercial and public segment will be significant during the forecast period. The segment will continue to remain the highest market growth contributor owing to increasing growth in commercial and public space constructions, as well as the regulations mandating and underlying the installation of smoke detectors. 

  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • MEA

APAC will account for 30% of the smoke detector market's growth throughout the forecast period. The growth of this segment can be attributed to the presence of strict regulatory mandates and increased awareness toward fire safety compliance across end-user industries. China and India are the key markets for smoke detectors in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

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Smoke Detectors Market 2020-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our smoke detectors market report covers the following areas:

  • Smoke Detectors Market size
  • Smoke Detectors Market trends
  • Smoke Detectors Market industry analysis

Smoke Detectors Market 2020-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist smoke detectors market growth during the next five years
  • Estimation of the smoke detectors market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the smoke detectors market
  • Analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smoke detectors market vendors

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Smoke Detectors Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.71%

Market growth 2021-2025

USD 461.19 million

Market structure

Fragmented

YoY growth (%)

3.97

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

APAC at 30%

Key consumer countries

US, Germany, China, Canada, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., BRK Brands Inc., Carrier Global Corp., Hochiki America Corp., Honeywell International Inc., Johnson Controls International Plc, Robert Bosch GmbH, Schneider Electric SE, Siemens AG, and Universal Security Instruments Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

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