Global Smoke Detectors Market is Expected to Reach $2,602 Million by 2023
Thursday, May 17, 2018
PORTLAND, Oregon and PUNE, India, May 17, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Smoke
Detectors Market by Product, End-user Industry, and Application: Global Opportunity
Analysis and Industry Forecast, 2017-2023
[https://www.alliedmarketresearch.com/smoke-detector-market ]", the global smoke detectors
market was valued at from $1,594 million in 2017, and is expected to reach $2,602 million
by 2023, registering a CAGR of 8.5% from 2017 to 2023. Asia-Pacific is expected to exhibit
the highest growth, owing to the growth in potential startups, consumers disposable income,
increase in urbanization & industrialization, along with rise in investments in
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The demand for global smoke detectors market is expected to grow, owing to its ability
to provide fire protection measures with the increase in infrastructural development such
as hotels, residential, corporate buildings, educational institution, and others. Moreover,
surge in number of fire accidents contributes to the growth in demand for smoke detectors
market. Moreover, rise in industries, such as food & beverage, industrial & automotive,
and electronic, is expected to drive the growth of the market due to several applications.
However, the complications associated with installation of smoke detectors is expected to
restrain the growth of the market.
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The photoelectric smoke detectors segment is expected to generate the maximum revenue
in the global market during the forecast period, and is expected to account for $1,140
million until 2023. Dual sensors market is expected to register the highest CAGR of 10%
during the forecast period. This scenario is attributed to the ability of dual sensor
smoke detectors to detect the smoldering fire caused in the commercial buildings.
Key Findings of the Smoke Detectors Market:
- Global smoke detectors market is expected to grow at the CAGR of 8.5% during the
forecast period, thereby expanding the opportunities for global smoke detectors
- The dual sensor smoke detectors segment is expected to witness the highest CAGR as
compared to other product types.
- North America is expected to be the highest revenue contributor with $572 million in
2017, and is estimated to reach $904 million by 2023, growing at a CAGR of 8%.
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The key players operating in the global smoke detectors market are Vintex Fire
Protection, Hochiki Corporation, Honeywell International, United Technologies Corporation,
Tyco, Siemens AG, Johnson Control, Robert Bosch, NEC Corporation, and Nest labs.
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digging out market data that helps us generate accurate research data tables and confirms
utmost accuracy in our market forecasting. Each and every data presented in the reports
published by us is extracted through primary interviews with top officials from leading
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