smoke detector Market Size

Smoke Detector Market size was over USD 2.51 billion in 2023 and is expected to reach USD 6.74 billion by the end of 2036, witnessing around 7.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smoke detector is assessed at USD 2.67 billion.

Fire outbreaks can cause massive damage to lives and property, which is a major concern among people. Increasing cases of fires and growing death and injury tolls in such accidents, are estimated to be the major driving factor for the market growth. 1.5 out of every 100,000 individuals in the world died due to fire, in the year 2017. Moreover, increasing construction of residential and commercial buildings, along with growing demand for safety from fire in such buildings, is anticipated to boost the market growth.