smoke detector Market Share

On the basis of regional analysis, the global smoke detector market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America industry is set to hold largest revenue share by 2036, driven by growing cases of fire accidents in residential and commercial areas. Moreover, high incidences of death from fire accidents in countries, such as, the United States is projected to boost the market growth. According to the data by U.S. Fire Administration (USFA), the cases of death by fire increased to 3,704 deaths in 2019, from 3400 deaths in 2017.

APAC Market Analysis

The market in the Asia Pacific is estimated to witness highest CAGR during the forecast period on the back of increasing construction of residential buildings combined with government initiatives to reduce cases of fatality by fire in highly populated countries, such as, India and China. More than 55% of the total death by fire occurred in residential or domestic fire outbreaks, in India, as of 2019.

Frequently Asked Questions (FAQ)

Rising cases of death and damage caused by accidental fire in homes and offices is one of the major factors driving the market growth.

The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.

High installation costs of smoke detectors is a major factor estimated to hamper the market growth.

The market in the North America will provide the highest growth opportunities for the market during the forecast period owing to the growing cases of fatalities from fire accidents in the region.

The major players in the market are Honeywell International Inc., Fike Corporation, Gentex Corporation, Halma plc, Siemens Aktiengesellschaft, Hochiki Corporation, and others.

smoke detector Market Share