Carbon Monoxide Detectors Market - Forecasts from 2018 to 2023
The carbon monoxide detectors market was valued at US$450.978 million in 2017 and is projected to expand at a CAGR of 5.09% over the forecast period to reach US$607.544 million by 2023. Carbon monoxide is a colorless and odorless gas produced by the incomplete combustion of carbon-containing materials. So, carbon monoxide detector is a device through which the presence of carbon monoxide gas is detected in order to prevent carbon monoxide poisoning. It is referred as a silent killer because it is virtually undetectable by humans without using detection technology. Increasing number of accidents related to CO poisoning has resulted in the demand of CO alarms. Growing awareness about the harmful effects of the CO and strict regulations for installing the CO alarms are the key drivers that has boosted the growth of carbon monoxide detectors market. The market is expected to grow at a steady pace in the upcoming year owing to the rising demand from commercial and residential end-users across the globe.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the carbon monoxide detectors value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the carbon monoxide detectors market.
Major industry players profiled as part of the report are Nest Labs, BRK Brands Inc., United Technologies, Yondwin Enterprise Co. Ltd., Leeo, Inc., X-SENSE, Safelincs Ltd, and MTI Industries, Inc.
The carbon monoxide detectors market has been analyzed through following segments:
Metal oxide Semiconductor
Fuel Fired furnaces
Gas Water Heaters
Middle East and Africa