The smoke and carbon monoxide alarms market is projected to grow at a moderate CAGR of 8.8% during the forecast period. In 2022, the global market is expected to generate revenue of USD 2.52 billion, increasing to USD 5.38 billion by the end of 2032.
Global Smoke and Carbon Monoxide Alarm Market: Overview
The rise in man-made accidents in industries and companies has heightened the demand for safety devices like smoke and carbon monoxide alarms. These alarms provide audible or visual warnings upon detecting smoke or carbon monoxide. Many industries, corporate facilities, and residential areas are prioritizing the installation of these alarms in their buildings to ensure safety. As public awareness of infrastructural safety grows, the market for smoke and carbon monoxide alarms is experiencing significant growth in both residential and commercial sectors.
Global Smoke and Carbon Monoxide Alarm Market: Market Dynamics
Drivers for the Smoke and Carbon Monoxide Alarm Market
Government initiatives promoting fire safety awareness and technological advancements in smoke and carbon monoxide alarms are major drivers fueling market growth. Increased spending on infrastructural safety in the commercial sector is also contributing to this expansion. Additionally, rising disposable incomes in the Asia-Pacific region and the Middle East and Africa are leading to greater installation of these alarms in residential properties, further boosting demand during the forecast period.
Trends for the Smoke and Carbon Monoxide Alarm Market
Continuous innovation, including the addition of features like temperature sensors and extended battery life, is a key trend among smoke and carbon monoxide alarm manufacturers.
Opportunities for the Smoke and Carbon Monoxide Alarm Market
The rising penetration of e-commerce in developing countries, along with increased promotional efforts by manufacturers, is expected to boost sales in the smoke and carbon monoxide alarm market during the forecast period. Additionally, growing urbanization, smart city initiatives, and increased investment in mall infrastructure in countries like India, Brazil, and Mexico are likely to create new growth opportunities for vendors in this sector.
Competitive Landscape
Key players in the smoke and carbon monoxide alarm market are concentrating on mergers and collaborations to drive sales of these safety devices.
Recent Market Development:
- Google Nest has introduced its smart smoke & CO alarm that alerts you on your phone once if there is any abnormality, fuelling the sales of smoke and carbon monoxide alarms all around the world.
- In its series of smoke detectors and fire alarms, Kidde has introduced its micro-10-year sealed battery smoke alarms with aggressive pricing and new features.
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
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Key Segments
By Power Source:
- Battery-operated
- Wired
By Sensor Type:
- Ionized
- Photoelectric
By Price Range:
- Economy
- Mid-Range
- Premium
By Sales Channel:
- Wholesalers/Distributors
- Specialty Stores
- Multi-Brand Stores
- Independent Small Stores
- Online Sales Channel
By End Use:
- Manufacturing Industry
- Corporates
- Residential
- Public Transportation Stations
- Educational
- Institutes and Training Centers
- Government Offices
- Monuments
- Heritage Sites and Public Parks
- Shopping Complex
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East and Africa
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