ASIA-PACIFIC SMOKE DETECTORS MARKET FORECAST 2022-2030

The Asia-Pacific smoke detectors market is expected to record a CAGR of 8.75% during the forecast period, 2022-2030, recording a revenue of $715.86 million by 2030.

The demand for smoke detectors in Asia-Pacific is attributed to the rising fire mortality rates and the awareness of residential safety. Also, the region has the presence of many prominent market players. Additionally, several countries in the region are prioritizing the growth of the residential building sector. Besides, government initiatives focused on the development of small- and medium-sized cities offer growth opportunities.

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Australia & New Zealand, Vietnam, Japan, India, South Korea, China, Thailand, Indonesia, and Rest of Asia-Pacific are assessed for the Asia-Pacific smoke detectors market growth analysis. In China, fires caused 1183 deaths in 2020. The same year also witnessed 252,000 fire incidents. Additionally, high-rise fires surged in 2020, constituting 6987 occurrences, accounting for 2.8% of all fires. Also, rural areas contributed to 49.3% of all fires.

As per the Ministry of Emergency Management, fire incidents cause property damage of almost $630.59 million annually. As a result, the growing fire incidences in the country propel the smoke detectors industry growth. Further, China is the largest construction market globally. In 2020, it was valued at $1049 billion. Also, the government is increasingly prioritizing enhancing the infrastructure in small- and medium-sized cities.

In South Korea, the construction industry is a major contributor to the country’s GDP. Also, there has been a rising demand for residential construction projects in the country. For instance, residential construction permits constituted most of the 223,000 issued in 2020. Almost 70% of such licenses were for constructing new apartment complexes with units ranging in size from 40-85 square meters. Additionally, the construction sector is evaluated to contribute significantly to creating smart cities and revitalizing the urban economy.

South Korea and Vietnam have partnered to construct more affordable housing in Vietnam. For instance, in 2018, the ‘Establishment of the 2021-2030 comprehensive social housing policy in Vietnam’ project was launched under non-refundable aid from the Korean International Cooperation Agency (KOICA). The project aims to complete the regulatory framework for the affordable housing segment. Such initiatives contribute to the expansion of housing developments, thereby increasing the need for smoke detectors.

The Asia-Pacific smoke detectors market scope includes the assessment of power source, end-user, and product type. The end-user segment includes oil & gas, telecommunication, automotive, residential, commercial, manufacturing, and other end-users.

Commercial areas are one of the largest end-users of smoke detectors. These areas entail commercial structures like strip malls, financial districts, central business districts, downtown, retail centers, and office parks. These areas are used by for-profit enterprises like restaurants, service stations, retail malls, and office buildings.

The telecommunication industry encompasses companies that facilitate communication globally through mobile phones, cable or wirelessly, and the internet. Also, it entails several sub-sectors like wireless communication, mobile ad-hoc network, communication equipment, foreign telecommunication services, and processing products & systems. Smoke detectors are installed in the telecommunications infrastructure and data centers.

Some of the eminent market players in the Asia-Pacific smoke detectors market are Hochiki Corporation, Huawei Technologies Co Ltd, Johnson Controls International, Honeywell International Inc, etc.

Huawei Technologies Co Ltd is an information & communication technology company, and a subsidiary of Huawei Investment & Holding Co Ltd. Its product portfolio includes broadband, mobile, data communication, and transmission network products. Also, the company offers innovative solutions and technologies for all IP networks. The company’s business operations are segmented into consumer business, enterprise business, and carrier network business. It offers its services & products in the Americas, Asia-Pacific, Europe, and Africa, with headquarters in Shenzhen, China.

One of its key products, the NB-IoT smoke detector, transmits functional information through the network and sends real-time alerts.

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