Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Smoke Detector Market size was valued at USD 2.71 billion in 2024 and is likely to cross USD 7.28 billion by 2037, registering more than 7.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of smoke detector is assessed at USD 2.89 billion.
Fire outbreaks can cause massive damage to lives and property, which is a major concern among people. Increasing cases of fires and growing death and injury tolls in such accidents, are estimated to be the major driving factor for the market growth. 1.5 out of every 100,000 individuals in the world died due to fire, in the year 2017. Moreover, increasing construction of residential and commercial buildings, along with growing demand for safety from fire in such buildings, is anticipated to boost the market growth.
Smoke Detector Sector: Growth Drivers and Challenges
Growth Drivers
- Continuous Innovation in Smoke Detector Technology to drive the Market Growth
- Rigorous Initiatives Taken by the Governments Across the Globe, to Curb the Cases of Domestic and Commercial Fire Outbreaks likely to boost the Market Growth
Challenges
High Installation Cost and Annual Maintenance Charges are Some of the Major Factors Likely to Hamper the Market Growth
Smoke Detector Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.9% |
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Base Year Market Size (2024) |
USD 2.71 billion |
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Forecast Year Market Size (2037) |
USD 7.28 billion |
|
Regional Scope |
|
Smoke Detector Segmentation
The global smoke detector market is segmented by installation type into hardwired, hardwired with battery back-up and battery powered, out of which the hardwired with battery back-up segment is anticipated to hold a major market share during the forecast period. These detectors are more dependable as they are connected to a power source and are also equipped with batteries, providing double assurance for any kind of emergency. On the basis of end-user, the market is segmented into residential, commercial, industrial, and others. Out of these, the industrial segment is projected to hold the largest market share by the end of 2029, on the back of growing demand for safety from fire among the industries to avoid tragic property and man power loss. Manufacturing industries, oil & gas industries and automotive industries, among others, are highly prone to fire accidents, which makes smoke detectors essential for these industries, which, in turn, is estimated to boost the segment growth.
Our in-depth analysis of the global market includes the following segments
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By Product |
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By Installation Type |
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By End-User
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Smoke Detector Industry - Regional Synopsis
North America Market Statistics
North America industry is set to account for largest revenue share by 2037, driven by growing cases of fire accidents in residential and commercial areas. Moreover, high incidences of death from fire accidents in countries, such as, the United States is projected to boost the market growth. According to the data by U.S. Fire Administration (USFA), the cases of death by fire increased to 3,704 deaths in 2019, from 3400 deaths in 2017.
APAC Market Analysis
The market in the Asia Pacific is estimated to witness highest CAGR during the forecast period on the back of increasing construction of residential buildings combined with government initiatives to reduce cases of fatality by fire in highly populated countries, such as, India and China. More than 55% of the total death by fire occurred in residential or domestic fire outbreaks, in India, as of 2019.
Companies Dominating the Smoke Detector Landscape
- Honeywell International Inc.
- Fike Corporation
- Gentex Corporation
- Halma plc
- Siemens Aktiengesellschaft
- Hochiki Corporation
- Space Age Electronics, Inc.
- Johnson Controls, Inc.
- Hitachi, Ltd.
- Robert Bosch GmbH
- Report ID: 102
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
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