Posted On: 2020-02-04
Standalone smoke detector acquired the largest revenue share in the overall Germany smoke and carbon monoxide detector market in 2019 – 6Wresearch
Rapidly growing construction sector, smart and innovative building solutions largely driven by high-rise construction projects are taking a forefront in Germany. Further, booming construction sector and demand for innovation with further integration of technology would remain the key drivers for the growth of standalone smoke and carbon monoxide detector market in Germany over the coming years.
According to 6Wresearch, Germany standalone smoke and carbon monoxide detector market size is projected to grow at a CAGR of 5.7% during 2019-25. In 2018, the German government announced its plans to invest $7 billion to build 1.5 million housing units by 2021. Additionally, the high population growth and the influx of immigrants in large cities would result in an increase in the residential construction projects which would further propel the growth of standalone smoke and carbon monoxide detector in the country. Moreover, Germany is completing several infrastructure projects over the next ten years, such as the building of a new terminal at Frankfurt airport, and the construction of Stuttgart 21, a rail and an urban centre. A second main line of the Munich metro-rail and a medical campus at the University of Augsburg are also under construction which would further support the growth of standalone smoke and carbon monoxide detectors in Germany.
According to Akshay Thakur, Senior Research Analyst, Research and Consulting, 6Wresearch, “Increasing retail space and huge demand for office space on account of construction of large enterprises and international organizations in cities such as Berlin, Dusseldorf and Munich would lead to an increase in the demand for standalone smoke and carbon monoxide detectors over the coming years.”
“Strict fire safety norms and government regulations would bode well for the installation of smoke and carbon monoxide detectors across residential and commercial sectors. Additionally, advent of smart home technology would open avenues for the application of standalone smoke and carbon monoxide detectors in the residential, commercial and industrial sectors.” Akshay further added.
According to Sahil Sharma, Research Associate, Research and Consulting, 6Wresearch, “Under the 2030 FTIP (Federal Transport Infrastructure Plan), the federal government is expected to invest around $299.6 billion to renovate and interlink Germany’s transport infrastructure which would further boost the demand for standalone smoke and carbon monoxide detectors over the coming years. Moreover, the travel & tourism sector in the country contributed $345 billion to the country’s economy in 2018. Additionally, strengthening of the hospitality industry is also expected to propel the installation of standalone smoke and carbon monoxide detectors in the hospitality sector during the forecast period.”
Some of the major companies in Germany standalone smoke and carbon monoxide detector market include UTC, Honeywell, and Siemens.
"Germany Standalone Smoke and Carbon Monoxide Detector Market (2019-2025)" report provides an in-depth analysis with 7 figures covered in 80 pages. The report estimates and forecast the overall Germany smoke and carbon monoxide detector market by product type. The report provides an unbiased and detailed analysis of the Germany 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.