Fact.MR, a market research and competitive intelligence provider, has published a report, which reveals that global fire alarm battery sales are currently valued at around US$ 302.3 million and are anticipated to increase at a CAGR of 3.6% to reach a market valuation of US$ 430.6 million by 2032.”.
Over the next 10 years, the growth of the global fire alarm battery market will be driven by the rising demand for improved fire safety systems in industries that are more prone to fire, such as power & utility, mining, automotive, petrochemicals, and oil & gas exploration.
The gadget that is used to produce a loud noise as a warning indicator in case of smoke or fire is called a fire alarm. Several devices operate simultaneously to alert people to the presence of smoke, fire or carbon monoxide gas using auditory and visual technologies. Both manual and automatic activation options are available for the devices.
Smoke detectors are essential for the security and safety of a variety of locations, including commercial, residential, and industrial structures. Installing fire alarms in these locations helps to reduce several injuries and fatalities brought on by fire incidents.
The governments of several nations have enacted stringent fire and safety laws and regulations to prevent such tragic incidents, which subsequently boosts the sales of fire alarm batteries.
Competitive Landscape
To combat the fierce competition and secure a strong market position, major players in the fire alarm battery market are implementing strategies such as product innovation, market diversification, partnerships, mergers & acquisitions, cooperation agreements, joint ventures, technological advancements, and capacity utilization.
Among the top manufacturers, Semcom Corporation, Ceasefire Industries, and Protec Fire Detection PLC concentrate on offering enhanced goods and services that guarantee safety precautions.
- The Bosch Corporation recently introduced a flexible fire protection battery with wireless detectors. A flexible fire prevention option that operates nearly totally without cabling is provided by the new alarm battery.
