The global residential smoke detector market size was valued at USD 1,807 million in 2020 and is projected to reach USD 3,405 million by 2028 at a CAGR of 8.3% during the forecast period. Growth of the market is attributed to rising usage of smoke detectors in residential and non-residential buildings.
Smoke detector refers to a smoke sensing device, used as safety measure for detection of fire. Two basic components are smoke sensor and smoke alarm that alerts people when the sensor detects the smoke. Smoke detectors are widely installed in commercial buildings, residential spaces, industrial hubs, and other public places. Fire incident is one such incident that can easily get out of control within the stipulated time. Smoke detectors easily detect the early stage of fire and deal with the situation promptly. Today's modern home and malls all have smoke detectors pre-installed as a safety measure under the government guidelines. Modern buildings use synthetic materials and variety of plastics, synthetic textiles in furnishing of commercial and residential buildings which has made them vulnerable to fire accidents. These can lead to severe life and property losses.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing initiatives and support from government is projected to drive the market.
- Increase in death and loss of properties due of fire has encouraged the adoption of smoke detector, this in turn fuels the market.
- High cost on installation and timely maintenance is estimated to hinder the market growth.
- Development of smoke detector technology coupled with IoT is anticipated to create immense opportunities for the market players.
Market Segment Insights:
Photoelectric residential smoke detector and Dual-sensor residential smoke detector
Based on types, the global residential smoke detector market is segregated into photoelectric, dual sensor, and ionized residential smoke detector. The photoelectric residential smoke detector segment is projected to expand at rapid pace during the forecast period. Photoelectric smoke detector consists of a light emitting diode and a light sensitive sensor located in a sensing chamber. It is more sensitive to the gray smoke emitted by smoldering fire and less sensitive to black smoke emitted by fire.
Dual-sensor smoke detectors combine ionization and photoelectric technology to detect both flaming and smoldering fires, offering you the best protection and saving you the hassle of installing two separate smoke detectors.
The residential segment is anticipated to expand at a CAGR of 9.3% during the forecast period
On the basis of applications, the smoke detectors market is segregated into residential blocks, commercial, and others. Rising population leads to rising number of houses worldwide. Substantial growth in urbanization worldwide is anticipated to drive the market. Factors such as favorable government initiatives, rising adoption of smart homes, policies, and technological advancement for home security are expected to boost the market. The safety protocol policies listed by the government bodies have made this device installation mandatory in the residential and commercial building. U.S National Fire Protect Act (NFPA) in 2019.
The market in North America is projected to hold a major market share
In terms of regions, the global residential smoke detector market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America held more than 30% share in 2019 owing to government initiatives in the form of stringent policies to reduce accidental fires in residential sector and presence of major manufactures operating in the US and Canada.
The market in Asia Pacific is expected to grow significantly in the coming year owing to rising population, infrastructural, and real estate sectors in the region. The presence of registered and unregistered Chinese local players operating in the market is estimated to boost the market. Industrial Hubs, Commercial projects, and malls are pioneering the smoke detect systems market.
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