The Global Smoke Detector Market to Exhibit 8.10% CAGR by 2028

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The Global Smoke Detector Market to Exhibit 8.10
CAGR by 2028
Triton Market Research presents the Global Smoke
Detector Market segmented by Power Source
(Hardwired Smoke Detectors, Battery-powered Smoke
Detectors, Others Hardwired with Battery),
End-user (Commercial, Automotive, Manufacturing,
Telecommunication, Oil Gas, Residential, Other
End-users), Type (Photoelectric, Ionization, Dual
Sensor, Other Types), and Regional Outlook (North
America, Europe, Latin America, the Middle East
and Africa, and the Asia-Pacific). It further
discusses the Market Summary, Industry Outlook,
Impact of COVID-19, Key Insights, Porters Five
Forces Model, Market Attractiveness Index, Vendor
Scorecard, Key Market Strategies, Drivers,
Challenges, Opportunities, Competitive Landscape,
Research Methodology, Global Market Size,
Forecasts Analysis (2022-2028). Triton Market
Researchs report states that the global smoke
detector market would expand with an 8.10 CAGR
during the evaluated years between 2022 and 2028.
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e-sample Smoke detectors are electronic
fire-protection equipment that detect smoke as a
sign of fire and aware people by sounding an
alarm. The rising global temperature due to
greenhouse gas emissions has raised the risk of
fires. According to estimates, about 4.5 million
US homes were at high risk of wildfire. Likewise,
more than 2 million properties were at extreme
wildfire risk in California in 2021.
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The growing prevalence of fires across the world
has mandated the use of smoke detectors to
safeguard the life of people, wildlife, and
properties, which, in turn, augments the markets
growth. However, with the introduction of
lithium-ion battery-powered smoke detectors and
carbon monoxide detectors, the price of smoke
detectors has escalated by almost 30. Such a
high price scale restricts manufacturers from
selling their products reasonably. Therefore,
this factor likely hinders the growth of the
smoke detector market. Globally, North America
dominates the smoke detector market and is
expected to lead over the forthcoming years.
Studies highlight that almost 4,000 Americans die
every year in house fires, and over 2,000 are
severely injured. Similarly, 73 of fire-related
fatalities in Canada are associated with
residential fires. As a result of the rising fire
incidents, the global smoke detector market is
expected to show significant growth in this
region over the coming years. The key players
profiled in the smoke detector market are Huawei
Technologies Co Ltd, Ceasefire Industries Pvt
Ltd, Google Nest (Google), Secom Co Ltd, Hochiki
Corporation, Siemens AG, Carrier Global
Corporation, BRK Brands Inc, Protec Fire and
Security Group Ltd, ABB Ltd, Robert Bosch GmbH,
Johnson Controls International, Schneider
Electric, and Honeywell International Inc. The
presence of top players with undifferentiated
product portfolios creates cutthroat competition
in the market. Also, many companies are acquiring
other smoke detector manufacturers to tap into
new markets. For instance, in 2021, Carrier
Global Corporation acquired Cavius, a
Denmark-based residential alarm manufacturer that
offers a wide range of smoke, heat, flood, and
carbon monoxide detectors. Such mergers and
acquisitions strengthen the product portfolios of
residential fire safety solution providers.
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