SMOKE ALARMS MARKET ANALYSIS

Key Takeaways from Analyst

The global smoke alarms market is expected to see steady growth over the next five years driven by rising safety awareness and strict smoke alarm regulations globally. North America will continue dominating the market owing to well established standards and mandatory installation requirements in many states. Europe and Asia Pacific are likely to witness above average growth due to growing construction activities and improving regulatory directives.

Stringent life safety codes in North America coupled with frequent product innovations will create sustained demand for high tech smoke alarms. However, the market may face restraints from economic slowdowns limiting new construction and home improvement budgets. Lack of enforcement of regulations in developing regions also challenges the industry.