The smoke and carbon monoxide alarm market is expected to strengthen its hold at a moderate CAGR of 8.8% during the forecast period. The global market holds an estimated revenue of USD 2.52 Billion in 2022 and is likely to cross USD 5.38 Billion by the end of 2032.
The smoke and carbon monoxide alarm market is anticipated to show promising growth prospects during the forecast period, expanding the Smoke and carbon monoxide alarm market size.
Attributes | Details |
---|---|
CAGR (2022 to 2032) | 8.8% |
Value (2022) | USD 2.52 Billion |
Value (2032) | USD 5.38 Billion |
As fire accidents in industries keep on rising, the use of smoke and carbon monoxide alarms rises excessively. In the last decade, its increased use in corporate spaces and residential areas has increased as most builders install these systems while building any space.
Smoke and carbon monoxide alarms show visual or audible warnings. Growing public awareness around safety and security also leads to high sales of smoke and carbon monoxide alarms. Demand for carbon monoxide alarms also rises with their high use in commercial spaces.
It has multiple departments, including kitchens and Electrical loop systems that have a high chance of catching fire. These factors push the sales of smoke and carbon monoxide alarms.
These alarms detect the smoke or heat through their sensors and warn the end user through an audio or video warning. Sales of smoke and carbon monoxide alarms are rising in developing regions.
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A rise in government initiatives regarding fire safety awareness and technological advancements in smoke and carbon monoxide alarms are the key drivers positively influencing the growth of the smoke and carbon monoxide alarm market. Increasing spending on the infrastructural safety of commercial segments is propelling the market's growth.
On the other hand, the rise in disposable income in the Asia Pacific region and the Middle East and Africa is increasing the installation of smoke and carbon monoxide alarms in residences are some of the factors expanding the demand for smoke and carbon monoxide during the forecast period.
Continuous innovation and features added such as temperature sensors, high battery backup in the product, and other features added in smoke and carbon monoxide alarm are key trends adopted by the smoke and carbon monoxide alarm market players.
Increasing e-commerce penetration in developing countries and a rise in promotional activities by manufacturers are expected to positively influence the smoke and carbon monoxide alarm market sales during the forecast period.
Increasing urbanization, innovative city projects, and expanding spending on mall infrastructure in developing countries such as India, Brazil, Mexico, and others are expected to register new growth opportunities for the smoke and carbon monoxide alarm vendors during the forecast period.
North America is expected to hold a significant share of the global smoke and carbon monoxide alarm market due to the presence of a significant amount of players in the region. Moreover, technological advancement pertaining to infrastructural safety is positively influencing the growth of the smoke and carbon monoxide alarm market in the region; this pushes the sales of smoke and carbon monoxide alarms.
The smoke and carbon monoxide alarm market in Europe is expected to hold a significant value share in the global market due to a large number of manufacturing industries and corporate offices.
The rapid growth of the economy of countries in the Asia Pacific region, such as China, India, and others, is witnessing significant growth in the smoke and carbon monoxide alarm market in the region.
Players in the smoke and carbon monoxide alarm market are penetrating Latin America due to increasing industrialization, rise in per capita spending, and growing urbanization in the region, fueling the demand for smoke and carbon monoxide alarms.
The key players in the Smoke and carbon monoxide alarm market are focusing on mergers and collaborations that are fueling the sales of Smoke and carbon monoxide alarms.
Key players in the Smoke and carbon monoxide alarm market include Kidde, Google Nest, FireX, FireAlert, Public Service Enterprise Group Incorporated, Onelink, Berkshire Hathaway, Safewire, Rishil World, Myalarmcenter, Vivint, Protect America and ADT Security Services.
Recent Market Development
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 5.8% from 2022 to 2032 |
The base year for estimation | 2021 |
Historical data | 2015 to 2020 |
Forecast period | 2022 to 2032 |
Quantitative units | Revenue in USD Billion, volume in kilotons, and CAGR from 2022 to 2032 |
Report Coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
Segments Covered | Power Source, Sensor Type, Price Range, Sales Channel, End Use |
Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia; and New Zealand |
Country scope | USA, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, United Arab Emirates(UAE), Iran, South Africa |
Key companies profiled | Kidde; Google Nest; FireX; FireAlert; Public Service Enterprise Group Incorporated; Onelink; Berkshire Hathaway; Safewire; Rishil World; Myalarmcenter; Vivint; Protect America; ADT Security Services |
Customization scope | Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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North America is the biggest market in the Smoke and carbon monoxide alarm market and will be helpful in increasing the Smoke and carbon monoxide alarm market size. The factors that lead to high growth in this region are increased use of it in industry, commercial space, and residential buildings. This leads to the high demand for smoke and carbon monoxide alarms in developed countries like USA and Canada.
Key competitors holding substantial smoke and carbon monoxide alarm market share include Kidde, Google Nest, FireX, FireAlert, Public Service Enterprise Group Incorporated, Onelink, Berkshire Hathaway, Safewire, Rishil World, Myalarmcenter, Vivint, Protect America and ADT Security Services.
Demand for smoke and carbon monoxide alarm is likely to increase with the high demand from manufacturing units, factories, and new industries that are driving the sales of smoke and carbon monoxide alarms in new markets.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Power Source 5.1. Battery 5.2. Wired 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sensor type 6.1. Ionized 6.2. Photoelectric 6.3. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Price range 7.1. Economy 7.2. Mid-Range 7.3. Premium 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sales Channels 8.1. Wholesalers/Distributors 8.2. Specialty Stores 8.3. Multi-Brand Stores 8.4. Independent Small Stores 8.5. Online Sales Channel 8.6. Others 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia 9.6. Oceania 9.7. Middle East and Africa 10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Kidde 19.2. Google Nest 19.3. FireX 19.4. FireAlert 19.5. Public Service Enterprise Group Incorporated 19.6. Onelink 19.7. Berkshire Hathaway 19.8. Safewire 19.9. Rishil world 19.10. Myalarmcenter 19.11. Vivint 19.12. Protect America 19.13. ADT Security Services 20. Assumptions & Acronyms Used 21. Research Methodology
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