Global Smoke Alarms Market Size, Share, Outlook and Opportunity Analysis to 2027 – Mandatory Government Policies Driving Rapid Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Smoke Alarms Market Report – Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027” report has been added to ResearchAndMarkets.com’s offering.

The demand for smoke alarms is rapidly growing owing to mandatory government policies in various countries such as the U.S., the U.K., China, and others. Smoke alarms are widely used in residential, commercial and industrial buildings. Based on application, the commercial segment accounted for the largest share in the global smoke alarms market. There are various methods which can be used to detect smoke and hence based on type, smoke alarms market is segmented into Photoelectric Smoke Alarm, Ionization Smoke Alarm, Dual Sensor Smoke Alarm, and Multi-Criteria Alarms. Photoelectric Smoke Alarms accounted for largest share in global smoke alarm market in 2019.

The demand for smoke alarms is rapidly growing owing to the mandatory government policies in various countries such as the U.S., the U.K., China, and others. Fire safety is a crucial parameter for any commercial, residential, and industrial buildings for safety of human lives and property. Furthermore, the increasing number of casualties due to fire is a major reason why government bodies are mandating smoke alarms. For instance, according to the National Fire Protection Association (NFPA), an international non-profit organization in the U.S., in 2018, in U.S. there were around 3,655 civilian deaths and 15,200 injuries due to 1,389,500 fire cases. In U.S, the 2018 civilian fire death toll of 3,655 is over 7% higher than the 3,400 total in 2017 and 28% higher than the record low number of deaths (2,855) in 2012.

Thus, in order to curb the number of deaths due to fire and improve building safety standards, various governments across the globe are making it mandatory to install smoke alarms for buildings including residential, commercial, and industrial. For instance, according to the government of the U.K., it is mandatory to install smoke alarms for every commercial and industrial building in order to safeguard human life. Similarly in the U.S., it is compulsory to install smoke alarms in every bedroom for both newly developed and existing houses as well, according to (National Fire Alarm and Signaling Code) NFPA 72 standards). The number of smoke alarms are directly proportional to the size of the house, therefore the larger the house, the more number of alarms are required. Thus, these factors are expected to drive the global smoke alarm market growth during the forecast period of 2020-2027.

Rising awareness of fire hazards and economical damage due to fire has increased the demand for smoke alarms in the residential segment. Moreover, the residential segment is rapidly growing in emerging countries such as India, China, and others. For instance, according to the India Brand Equity Foundation (IBEF), the Indian real estate market is expected to reach US$ 1,000 million by 2030 from US$ 120 million in 2017. This rapid growth in the real estate market in emerging countries will positively affect the global smoke alarm market growth.

Key features of the study:

• This report provides in-depth analysis of global smoke alarms market size (US$ Million) and market volume (‘000 Units). The compound annual growth rate (CAGR %) for the forecast period (2020- 2027), considering 2019 as the base year.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
• It profiles leading players in the global smoke alarms market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
• The global smoke alarms market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers

Company Profiles

• Honeywell International, Inc.
• Company Overview
• Product Portfolio
• Financial Performance
• Recent Developments/ Updates
• Key Strategies
• Panasonic Corporation
• Halma plc
• Hochiki Corporation
• Johnson Controls,
• Robert Bosch GMBH
• Siemens AG
• TYCO International plc
• United Technologies Corporation (UTC)
• Kidde
• X-Sense Innovations Co.
• BRK Brands, Inc.
• Nest Labs
• Smartwares
• Universal Security Instruments, Inc.
• Busch-Jaeger
• EI Electronics
• Hekatron Vertriebs GmbH

For more information about this report visit https://www.researchandmarkets.com/r/2q4drs

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