Smoke and Carbon Monoxide Alarm Market

Smoke and Carbon Monoxide Alarm Market Overview

The smoke and carbon monoxide alarm market is expected to strengthen its hold at a moderate CAGR of 8.8% during the forecast period. The global market holds an estimated revenue of US$ 2.52 Bn in 2022 and is likely to cross US$ 5.38 Bn by the end of 2032.

The smoke and carbon monoxide alarm market is anticipated to show promising growth prospects during the forecast period, expanding the Smoke and carbon monoxide alarm market size. 

As fire accidents in industries keep on rising, the use of smoke and carbon monoxide alarms rises excessively. In the last decade, its increased use in corporate spaces and residential areas has increased as most builders install these systems while building any space.

Smoke and carbon monoxide alarms show visual or audible warnings. Growing public awareness around safety and security also leads to the high sales of smoke and carbon monoxide alarms. Demand for carbon monoxide alarms also rises with their high use in commercial spaces.

It has multiple departments, including kitchens and Electrical loop systems that have a high chance of catching fire. These factors push the sales of smoke and carbon monoxide alarms.

These alarms detect the smoke or heat through their sensors and warn the end user through an audio or video warning. Sales of smoke and carbon monoxide alarms are rising in developing regions.

What are the Key Drivers and Restraints to the Smoke and Carbon Monoxide Alarm Market?

A rise in government initiatives regarding fire safety awareness and technological advancements in smoke and carbon monoxide alarms are the key drivers positively influencing the growth of the smoke and carbon monoxide alarm market. Increasing spending on the infrastructural safety of commercial segments is propelling the market's growth.

On the other hand, the rise in disposable income in the Asia Pacific region and MEA is increasing the installation of smoke and carbon monoxide alarms in the residences are some of the factors expanding the demand for smoke and carbon monoxide during the forecast period.

Continuous innovation and features added such as temperature sensors, high battery backup in the product, and other features added in smoke and carbon monoxide alarm are key trends adopted by the smoke and carbon monoxide alarm market players.

Increasing e-commerce penetration in developing countries and a rise in promotional activities by the manufacturers are expected to positively influence the smoke and carbon monoxide alarm market sales during the forecast period.

Moreover, increasing urbanization, innovative city projects, and expanding spending on mall infrastructure in developing countries such as India, Brazil, Mexico, and others are expected to register new growth opportunities for the smoke and carbon monoxide alarm vendors during the forecast period.

Which is the Key Smoke and Carbon Monoxide Alarm Market?

North America is expected to hold a significant share in the global smoke and carbon monoxide alarm market due to the presence of a significant amount of players in the region. Moreover, technological advancement pertaining to infrastructural safety is positively influencing the growth of the smoke and carbon monoxide alarm market in the region; this pushes the sales of smoke and carbon monoxide alarms.

The smoke and carbon monoxide alarm market in Europe is expected to hold a significant value share in the global market due to a large number of manufacturing industries and corporate offices.

The rapid growth of the economy of countries in the Asia Pacific region, such as China, India, and others, is witnessing significant growth in the smoke and carbon monoxide alarm market in the region.

Players in the smoke and carbon monoxide alarm market are penetrating Latin America due to increasing industrialization, rise in per capita spending, and growing urbanization in the region, fueling the demand for smoke and carbon monoxide alarms.

Which are the Key Competitors of Smoke and Carbon Monoxide Alarm Market?

The key players of the Smoke and carbon monoxide alarm market are focusing on mergers and collaborations that are fueling the sales of Smoke and carbon monoxide alarm. 

Key players in the Smoke and carbon monoxide alarm market include Kidde, Google Nest, FireX, FireAlert, Public Service Enterprise Group Incorporated, Onelink, Berkshire Hathaway, Safewire, Rishil worls, Myalarmcenter, Vivint, Protect America and ADT Security Services.

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.

Sneha Verghese

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst

Report Scope