Research Nester published a report titled âSmoke Detector Market: Global Demand Analysis & Opportunity Outlook 2029â which delivers detailed overview of the global smoke detector market in terms of market segmentation by product, installation type, end-user and by region.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The global smoke detector market is estimated to witness significant CAGR during the forecast period, i.e., 2021-2029.
The market is segmented on the basis of installation type into hardwired, hardwired with battery back-up and battery powered, out of which the hardwired with battery back-up segment is projected to hold a major market share during the forecast period on the back of high dependance on these detectors.
On the basis of end-user, the industrial segment is anticipated to hold the largest share during the forecast period owing to increasing need for safety from fire accidents in fire-prone industries.
Moreover, it is essential for industries, such as, oil & gas, to be equipped with smoke detecting devices to avoid any mishappening due to the flammable nature of the product.Download Sample of This Strategic Report: https://www.researchnester.com/sample-request-102The growth of the global smoke detector market can be attributed to the rising government initiatives to curb the growing cases of death and injuries caused by fire.
Additionally, construction of residential and commercial buildings, equipped with proper fire-safety systems, is estimated to boost the demand for smoke detectors.Regionally, the global smoke detector market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Out of these regions, the market in the North America is forecasted to garner the largest market share in the forecast period, owing to the growing number of deaths caused by fire in the countries, such as, the U.S. As per the statistics provided by U.S. Fire Administration (USFA), in 2019, 3,704 deaths were caused by fire.