DUBLIN--(BUSINESS WIRE)--The "Smoke Detectors Market by Power Source (Battery-Powered, Hardwired with Battery Backup, Hardwired Without Battery Backup), Type (Photoelectric Smoke Detectors, Ionization Smoke Detectors), Service, Distribution Channel - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The smoke detectors market size is expected to grow from USD 2.3 billion in 2022 to USD 3.4 billion by 2027; it is expected to grow at a CAGR of 8.2% from 2022 to 2027.

Hardwired with battery backup is expected to grow at a higher rate from 2022 to 2027.

Hardwired with battery backup smoke detectors operate as a substitute for battery-powered smoke detectors. They are efficient and have battery backups for continuous operation. Hardwired photoelectric smoke detectors and ionization smoke detectors are installed permanently. They are wired to the electrical system of a building and have a backup battery in case of a power outage. The hardwired with battery backup power source is gaining popularity in recent years, as the battery-powered smoke detectors require constant maintenance and replacement of batteries.

Photoelectric smoke detectors to hold the largest share in 2021.

Photoelectric smoke detectors are designed to sense smoke by utilizing the effects of smoke on the light. They are installed where the possibility of smoldering fire is more. Smoldering fires are more dangerous to human life than the flaming type. Hence, this type of smoke detector is preferred over other types in a commercial space. Photoelectric detectors are installed in places where the possibility of smoldering fires is more (e.g., commercial spaces). This rising installation of photoelectric smoke detectors in commercial places is responsible for the segmental growth and thus the growth of the market.

Maintenance services to be the fastest-growing segment during the forecast period.

In industrial and commercial applications, smoke detectors monitor a wide area of a building or warehouse. The effectiveness of smoke detectors in these large areas is significant for the property and its occupants. However, smoke detectors are useful only when they are properly engineered, designed, installed, serviced, and maintained. To function reliably at the time of emergency, it is essential that smoke detectors go under proper servicing and maintenance services. Hence, maintenance services are demanded frequently by the end-users of the smoke detectors.

The residential end-use industry holds the largest growth rate during the forecast period.

The residential end-use industry is expected to hold the largest market size during the forecast period. Due to the growing concerns related to fire hazards, governments of various countries have made it mandatory to install a smoke detector system in facilities. An increase in the number of government mandate policies in developed economies to install smoke detectors in homes and rapid development in the residential construction worldwide are attributed to the high growth of the market in the residential sector. In the renovation or refurbishment of commercial and residential buildings, smoke detectors are either replaced or re-installed, which is increasing their sales.

The Asia Pacific is expected to capture the second-largest market size during the forecast period.

The Asia Pacific region is expected to hold the second-largest share of the smoke detectors market during the forecast period. The region has been witnessing growth in urbanization, which has boosted real estate and construction activities. In addition, there have been significant technological and economic advancements. These factors drive the need for enhanced safety of people and property, thereby boosting the demand for commercial smoke detectors. Besides, the emerging economies in the Asia Pacific would majorly contribute to the smoke detectors market in the forecast period. The rising awareness and government initiatives in the Asia Pacific countries are expected to boost the adoption of smoke detectors in the region.

Market Dynamics

Drivers

• Rising Initiatives and Support for Smoke Detectors from Government Bodies
• Increased Fire-Related Expenditure of Various Enterprises and Rise in Deaths & Loss of Properties
• Advantages of the Technological Innovations in the Smoke Detector

Restraints

• High Replacing Costs Associated with Replacing Traditional Smoke Detectors with Smart Smoke Detectors

Opportunities

• Smart Smoke Detectors to Capture the Market in Coming Years
• Increasing Installation of Smoke Detectors in Buses, Coaches, and Specialty Vehicles

Challenges

• Difficulties in Disposing of Smoke Detectors

Companies Mentioned

• ABB
• ADT Inc.
• Analog Devices, Inc.
• Apollo Fire Detectors
• BRK Brands, Inc.
• Carrier Global Corporation
• Ceasefire Industries Pvt. Ltd.
• Emerson Electric Co.
• Fike Corporation
• Gentex Corporation
• Hekatron Vertriebs GmbH
• Hochiki Corporation
• Honeywell International, Inc.
• Johnson Controls International plc.
• Mircom Group of Companies
• Napco Security Technologies
• Nest Labs (Google Nest)
• Netatmo
• Protec Fire & Security Group Ltd.
• Robert Bosch GmbH
• Schneider Electric
• Secom Co., Ltd.
• Securiton Ag
• Siemens Ag
• Universal Security Instruments, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/wwlodq.

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