Jersey City, New Jersey, Oct. 05, 2021 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Residential Smoke Alarm (Smoke Detector) Market” By Power Source (Hardwired and Battery Powered), By Application (Photoelectric Smoke Alarm, Ionization Smoke Alarm, Dual Sensor Smoke Alarm, & Others), and By Geography. According to Verified Market Research, the Global Residential Smoke Alarm (Smoke Detector) Market size was valued at USD 447.82 Million in 2020 and is projected to reach USD 980.59 Million by 2028, growing at a CAGR of 10.61% from 2021 to 2028.
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Browse in-depth TOC on “Residential Smoke Alarm (Smoke Detector) Market”
202 – Pages
126 – Tables
37 – Figures
Global Residential Smoke Alarm (Smoke Detector) Market Overview
The Residential Smoke Alarm (Smoke Detector) market is expected to drive due to the growing awareness amongst the people about the potential advantages of the installation of smoke alarms in their houses and due to increasing stringent regulations by government and other organizations, and implementation of residential safety standards.
Implementation of fire safety standards in residential apartments is very important as the residential area comprises a larger percentage of the population. Thus, governments of various countries are taking the initiative to build stringent regulations in the construction of buildings to implement fire safety standards. In addition, the construction industry across the globe is developing as in the developed and in developing countries, there is a higher rate of construction due to urbanization and industrial development. Thus, such countries are making safety standards mandatory to be adopted while constructing the buildings. Thereby increasing the demand for a residential smoke alarm.
North America accounted for the largest market share and is projected to grow at a CAGR of 10.35% during the forecast period. This is due to the supportive government regulations for the mandatory installation of smoke detectors in buildings. For instance, the U.S. Consumer Product Safety Commission (CPSC) staff are participating in voluntary standard and code activities for smoke alarms. The growing number of fire deaths, especially in the residential sector, along with the rise in residential construction in key states such as Texas, Florida, and California. This factor increases the demand for smoke detectors in residential areas.
Key Developments
- VESDA-E VES Smoke Detectors from Honeywell Introduce Advanced Zoning to Improve Threat Identification and Reduce Losses.
- KIDDE Launched Carbon Monoxide (CO) Education Effort as 2020 Hurricane Season Approaches Record for Most Named Storms.
Key Players
The major players in the market are Honeywell, BRK, X-SENSE, Kidde, Google, Ei Electronics, Sprue Aegis, Smartwares, Hekatron, and Busch-jaeger. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Verified Market Research has segmented the Global Residential Smoke Alarm (Smoke Detector) Market On the basis of Power Source, Application, and Geography.
- Residential Smoke Alarm (Smoke Detector) Market, By Power Source
- Hardwired
- Battery Powered
- Residential Smoke Alarm (Smoke Detector) Market, By Application
- Photoelectric Smoke Alarm
- Ionization Smoke Alarm
- Dual Sensor Smoke Alarm
- Others
- Residential Smoke Alarm (Smoke Detector) Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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Leading functional safety companies safeguarding against unforeseen circumstances
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