DUBLIN, June 9, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Smoke Detector Market by Power Source, Product, End-User Industry, Service, and Region - Global Forecasts to 2022" report to their offering.
The smoke detector market is forecast to grow from USD 1.31 Billion in 2015 to USD 2.52 Billion by 2022, at a CAGR of 9.2% between 2016 and 2022.
The smoke detector market is driven by factors such as increasing number of government mandate policies to install smoke alarms in residential sector, increased fire-related expenditure of various enterprises, and rise in deaths & loss of properties, and technological advancements have created higher level application for smoke detectors. Smoke detector manufacturers are investing significantly in R&D that would lead to innovative and efficient fire protection products.
The market in Europe is expected to grow rapidly between 2016 and 2022. Under the influence of government mandate policies the countries in European region such Austria, France, and Germany are installing smoke detectors in their homes and is the main reason for the growth of smoke detector market in this region.
Also, North America held for the largest market size in smoke detector market in 2015. The high demand for smoke detectors from this region is mainly attributed to the rising number of fire deaths, especially in residential sector, along with the rise in residential construction in the key U.S. states such as Texas, Florida, and California.
Conversely, factors inhibiting the market growth are the high cost of replacing traditional detectors with smart detectors. The cost to install a smoke alarm varies according to the type and brand of smoke detector being used. But on average, to install two smoke alarm in a home would cost around USD 110 and it may also cost higher. This restricts the customers to install or replace traditional detector with the new smart detectors. To address the issue, the vendors are developing retrofitting solutions for the customers and it costs as low as one-third of the cos of replacement.
- Hochiki Corporation
- Honeywell International Inc.
- Johnson Controls Inc.
- NEC Corporation
- Nest Labs
- Robert Bosch GmbH
- Schneider Electric
- Siemens AG
- United Technologies Corporation (UTC)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Smoke Detector Market, By Power Source
8 Smoke Detector Market, By Product Type
9 Smoke Detector Market, By Service
10 Smoke Detector Market, By End-User Industry
11 Geographical Analysis
12 Competitive Landscape
13 Company Profiles
For more information visit http://www.researchandmarkets.com/research/wx6v69/smoke_detector
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SOURCE Research and Markets