Smoke Detector Market to Hit USD 3,380.8 million by 2026; Rising Fire Safety Awareness in Emerging Economies to Boost Market Expansion

The global smoke detectors market size is estimated to reach USD 3,380.8 million by 2026 owing to increasing pace of urbanization around the world, finds Fortune Business Insights™ in its new report, titled “Smoke Detector Market Size, Share & Industry Analysis, By Technology Type (Photoelectric, Dual Sensor, Ionization and Others), By Application (Commercial, Industrial and Residential), and Regional Forecast, 2019-2026”. As per the findings of the report, the market value stood at USD 1,904.4 million in 2018 and is anticipated to exhibit a CAGR of 7.5% from 2019 to 2026.

Smoke Sensors from Johnson Controls Meet Safety Standards

In January 2020, the Irish building safety equipment manufacturer, Johnson Controls, launched advanced smoke detectors designed on the lines of its signature TrueAlarm technology. The new smoke sensors have been conceived to adhere to the 7^th edition of the UL 268 safety standards in the US that are slated to come into effect in June 2021. The new edition of the standards require fire safety systems to undergo a host of rigorous performance tests, with three new ones covering smoldering polyurethane, flaming polyurethane foam, and cooking nuisance alarm. Implementation of such enhanced safety protocols and measures are forcing companies to create products aligned with these requirements, which in turn is influencing the smoke detector market trends.

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https://www.fortunebusinessinsights.com/smoke-detector-market-102691

Sensitivity Issues Associated with Certain Smoke Detectors to Hinder Market Growth

Fire safety devices, especially smoke detectors, use sensor technology to enable early detection of fires and make possible the execution of the necessary precautionary measures to mitigate the impending disaster. However, certain types of these detectors, specifically the photoelectric and ionizing varieties, suffer from a few shortcomings. For example, photoelectric smoke systems are highly sensitive to insects, flies, and dust particles, requiring frequent maintenance as a result, which makes them an expensive investment. In addition to costly maintenance, these systems also need higher power to function, which makes them even pricier and energy-inefficient. In case of ionizing detectors, their high sensitivity leads to multiple false alarms. Furthermore, these systems are not as responsive as their photoelectric counterparts to smoldering fires, making them a risky purchase. These limitations may impede the market growth for smoke detectors in the forthcoming years.

Key Players to Focus on Acquisition Ventures to Gain Competitive Edge

According to the smoke detector market analysis, core competitors such as Honeywell and ABB are increasingly engaging in acquisition activities to create new avenues for expansion in this market. These players are focused on acquiring regional players in foreign countries in a bid to widen their customer base in other markets. Additionally, these ventures are enabling companies to diversify their offerings as well as establish new revenue streams and set up deeper networks to effectively market and distribute their products.

Industry Development:

• November 2017: US-based Honeywell International acquired the small Italy-based SCAME Sistemi to strengthen its portfolio of Connected Building solutions by adding gas and fire safety capabilities to its offerings. Moreover, the acquisition allows Honeywell to gain stride in the fire safety domain in the European Union (EU).

List of Players Profiled in the Market Report:

• Hochiki Corp.


•  ABB


•  Schneider Electric


•  Siemens


• Johnson Controls


• Nest


• United Technology Corporation


• Huawei


•  Robert Bosch


•  Honeywell International Inc.

Further Report Findings:

• The ionization segment, divided on the basis of technology type, is expected to lead the market as these smoke detectors are easy to operate and efficient in detecting fire fumes. In 2018, this segment held a market share of 43.9%.


• Rising urbanization and introduction of solutions specifically designed for residential spaces will aid the residential segment register a healthy growth rate during the forecast period.


• Having generated revenue worth USD 588.5 million in 2018, North America is predicted to dominate the smoke detectors market share in the coming years owing to increasing number fire- and heat-related accidents in the US and Canada in the past few years.


• In Asia-Pacific, the market is expected to rise substantially on account of a large number of local players in China and rapid growth of construction industry in India.

Table of Segmentation: