Germany acquired the largest revenue share in the overall Europe smoke and carbon monoxide detector market – 6Wresearch
Political uncertainty in the European region has led to a rather mixed outlook for the standalone smoke and carbon monoxide detector market. While investors have developed a cautious approach towards long term investment, rising domestic consumption and strong economic fundamentals are expected to drive the growth of the European countries at a moderate pace.
According to 6Wresearch, Europe standalone smoke and carbon monoxide detector market size is projected to grow at a CAGR of 5.1% during 2019-25. Germany is a leading country, in terms of revenues in the overall Europe standalone smoke and carbon monoxide detector market, owing to tremendous rise in the construction sector. Several initiatives taken by the European government such as Construction 2020, which aims to construct around 1.5 million housing units, would lead to an increase in demand for standalone smoke and carbon monoxide detectors over the years to come.
According to Akshay Thakur, Senior Research Analyst, Research and Consulting, 6Wresearch, “Europe standalone smoke and carbon monoxide detector market is largely dominated by countries such as United Kingdom, Germany and Italy owing to the presence of strict fire safety codes and the recovering construction sector which is anticipated to supplement the growth of the smoke and carbon monoxide detector industry in the region. Further, increasing construction and rising awareness of fire safety in the Eastern Europe region is likely to support the growth of the standalone smoke and carbon monoxide detector market over the coming years.”
According to Sahil Sharma, Research Associate, Research and Consulting, 6Wresearch, “Favourable interest rate environment, increased government spending and relatively stable economic conditions are some of the other factors that are anticipated to augment construction sector growth across the region, which in turn, would lead to an increased demand for standalone smoke and carbon monoxide detectors in Europe during the forecast period.”
Some of the major companies in Europe standalone smoke and carbon monoxide detector market include UTC, Honeywell, Johnson Controls, Tyco and Siemens.
"Europe Standalone Smoke and Carbon Monoxide Detector Market (2019-2025)" report provides an in-depth analysis with 46 figures and 3 tables covered in 111 pages. The report estimates and forecast the overall Europe smoke and carbon monoxide detector market by types and countries. The report provides an unbiased and detailed analysis of the Europe smoke and carbon monoxide detector market on-going trends, outlook, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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