Pune, India, February, 2019, MRFR Press Release/- Market Research Future published a half-cooked research report on smoke alarm market.
Market Highlights
Smoke alarm market is expected to grow from USD 804.08 million in 2017 to USD 2.59 Billion by 2032, at a compound annual growth rate (CAGR) of 8.00% during the forecast period. Rise in government initiatives regarding fire safety awareness and technological advancements in smoke alarms are the key drivers for the smoke alarm market.
Key players
The key players profiled in the smoke alarm market research report are Johnson Controls Inc (US), Protec Fire Detection PLC (UK), Schneider Electric (France), Robert Bosch GmbH (Germany), United Technologies Corporation (US), Nest Labs (US), Siemens AG (Germany), Legrand (France), Newell Brands (US), and Halma Plc (UK). The major players constantly focuses on growth strategies such as strategic partnerships, mergers, acquisitions, and product launch to enhance their product offerings and expand their market reach. The other prominent players in the in the smoke alarm market are Hochiki Corporation (Japan), Honeywell International (US), Secom Co., Ltd (Japan), Minimax Viking GmbH (Germany), Gentex (US), Schrack Seconet AG (Austria), NEC Corporation (Japan), and Ceasefire Industries Pvt. Ltd. (India).
Regional Analysis
The global market for smoke alarm market is estimated to grow at a significant rate during the forecast period from 2024 to 2032. The geographical analysis of smoke alarm market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is estimated to register the highest CAGR during the forecast period. The growth in the region is attributable to factors including ongoing infrastructure development, rapid pace of urbanization, and rise in number of residential and commercial spaces including healthcare centers, educational institutions, and malls.
North America is expected to dominate the smoke alarm market from 2024 to 2032 as the region has a sustainable and well-established economy and the region witnesses stringent government mandates with regards to smoke alarms installation in residential and commercial space. Furthermore, the presence of the leading manufacturers in the region further drive the smoke alarm market in these regions.
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Report details
| Base Year | 2019 |
| Companies Covered | 15 |
| Pages | 100 |
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