Carbon Monoxide Alarm Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

Published: Jan 2021 Pages: 120 SKU: IRTNTR46655

The carbon monoxide (CO) alarm market size has the potential to grow to USD 305.50 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.61%. 

This report provides a detailed analysis of the market by end-user (industrial, commercial, and residential), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • ABB Ltd.
  • Bellman & Symfon AB
  • Carrier Global Corp.
  • First Alert Inc.
  • Gentex Corp.
  • Honeywell International Inc.
  • Nest Labs Inc.
  • Siemens AG
  • Trolex Ltd.
  • Universal Security Instruments Inc.

 

The CO alarm market is fragmented and the vendors are deploying growth strategies such as offering a wide range of CO alarms that adhere to the safety standards defined by the NFPA to compete in the market. The market players also significantly leverage external market drivers such as the increasing incidence of carbon monoxide accidents to achieve growth opportunities. However, factors such as concerns about the quality of carbon monoxide alarms will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

This carbon monoxide alarm market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Carbon Monoxide Alarm Market: Key Drivers and Trends

  • The rise in the incidence of CO accidents is one of the primary drivers for the carbon monoxide alarm market.
  • CO is also known as the silent killer because of its odorless and colorless nature, which makes its presence hard to detect. It is a hazardous gas, which if inhaled results in suffocation and permanent damage to brain and lung tissues.
  • This makes it imperative to install CO alarms in closed garages, furnaces, kitchens, underground mines, and petroleum refineries which are common sources of CO.
  • These high-risk factors of CO to human health are expected to drive the CO alarm market during the forecast period.
  • The increasing popularity of connected CO alarms is one of the latest trends gaining traction in this market.
  • It is observed that several vendors are now offering CO alarms that are connected using mobile apps.
  • These apps can alert the user by providing notifications for issues such as changing batteries.
  • Similarly, there are vendors that offer CO alarms that are connected through wireless interconnection with other domestic alarms and appliances, which ensures the safety of the occupants.
  • This increasing popularity of the connected CO alarms will induce growth in the CO alarm market in the coming years.

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Carbon Monoxide Alarm Market: Segmentation by Geography

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33% of the market’s growth will originate from North America during the forecast period. The US is a key market for carbon monoxide alarms in North America. Market growth in this region will be faster than the growth of the market in APAC and MEA. The increasing number of CO accidents will facilitate the carbon monoxide alarm market growth in North America over the forecast period. 

Carbon Monoxide Alarm Market: Segmentation by End-user

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The industrial segment includes end-users such as manufacturing plants, water and sewage plants, nuclear power plants, and oil and gas plants. Industrial end-users are highly prone to elevated levels of CO due to the extensive use of devices, instruments, flammable gases and liquids, and the large areas of operation that produce CO. Due to the high risk involved for industrial end-users, the demand for carbon monoxide alarms is also high in this segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the carbon monoxide alarm market size. 

 

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Carbon Monoxide Alarm Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive carbon monoxide alarm market growth during the next five years
  • Precise estimation of the CO alarm market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the carbon monoxide alarm industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of carbon monoxide alarm market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five Forces Analysis
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Industrial - Market size and forecast 2020-2025
    • Commercial - Market size and forecast 2020-2025
    • Residential - Market size and forecast 2020-2025
    • Impact of COVID-19 pandemic and recovery by end-user segment
    • Market opportunity by End-user

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • ABB Ltd.
      • Bellman & Symfon AB
      • Carrier Global Corp.
      • First Alert Inc.
      • Gentex Corp.
      • Honeywell International Inc.
      • Nest Labs Inc.
      • Siemens AG
      • Trolex Ltd.
      • Universal Security Instruments Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      INFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases

      DATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts

      REPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape

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      Key Questions Answered

      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?

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      • Covid-19 impact and recovery analysis
      • Data on revenue-generating market segments
      • Details on the market shares of various regions
      • Five-force market analysis