Carbon Monoxide Alarms Market By Type (Fixed Carbon Monoxide Alarms, Portable Carbon Monoxide Alarms) , By Application (Residential, Commercial, Industrial) : Global Opportunity Analysis and Industry Forecast, 2024-2032
The carbon monoxide alarms market was valued at $390.8 million in 2023, and is projected to reach $879.7 million by 2032, growing at a CAGR of 9.5% from 2024 to 2032.
Carbon monoxide alarm is a critical safety device designed to detect the presence of carbon monoxide gas in the air and sound an alert to warn occupants of potential danger. Carbon monoxide is a colorless, odorless, and tasteless gas, which makes it particularly hazardous because humans cannot detect it without the help of such alarms. Thus, the installation of carbon monoxide alarms is especially important in areas where fuel-burning appliances, such as furnaces, gas stoves, water heaters, and fireplaces, are present.
The growth of the global carbon monoxide alarms market is majorly driven by alarming increase in carbon monoxide-related deaths and injuries. In regions where fuel-based heating systems (gas, oil, and wood) are common, the risk of carbon monoxide poisoning is higher, leading to increased demand for carbon monoxide alarms. As per the 2020 claims of the Global Health Data Exchange registry—a WHO data repository of health-related statistics—there were approximately 137 cases and 4.6 deaths per million of carbon monoxide incidence and mortality, respectively. Furthermore, rise in public awareness of the dangers of carbon monoxide poisoning has driven the demand for carbon monoxide alarms. Governments and health organizations are promoting the importance of installing these alarms in homes and businesses. In the UK, a report by the Health and Safety Executive in 2021 found that legislation requiring carbon monoxide alarms in homes with solid fuel appliances reduced CO-related deaths by 25% between 2010 and 2020. Moreover, surge in construction activities, especially in residential housing, is boosting the demand for safety devices such as carbon monoxide alarms, which significantly contributes toward the growth of the global market. In addition, rise in trend of smart homes has encouraged the adoption of integrated smart carbon monoxide alarms, which can be connected to home automation systems for remote monitoring and control, thus augmenting the market growth. However, high upfront cost of installing carbon monoxide alarms, particularly smart alarms with advanced features, restrains the market growth. In addition, limited awareness about the dangers of carbon monoxide poisoning acts as the key deterrent factor of the global market. On the contrary, advancements in sensor technologies, such as electrochemical and biomimetic sensors, are improving the accuracy and reliability of carbon monoxide alarms. Smart carbon monoxide alarms with connectivity features are gaining popularity, allowing users to monitor carbon monoxide levels through mobile apps. Such developments are anticipated to open new avenues for the expansion of the global market during the forecast period.
The carbon monoxide alarms market is segmented into type, application, and region. On the basis of type, the market is divided into fixed carbon monoxide alarms and portable carbon monoxide alarms. As per application, it is segregated into residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsBy type, the portable CO alarms segment is anticipated to experience notable growth in the carbon monoxide alarms machines market.On the basis of application, the residential sector segment is anticipated to dominate the market from 2024 to 2032.
Region wise, North America accounted for the highest market share in 2023; however, Aisa-Pacific is expected to grow with a highest CAGR during the forecast period.
Competition AnalysisCompetitive analysis and profiles of the major players in the global carbon monoxide alarms market include First Alert, Honeywell International Inc., FireAngel, BRK Brands, Universal Security Instruments, Inc., X-Sense, System Sensor Corporation, Aico, Siemens, and HOCHIKI Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.
Key Market SegmentsBy TypeFixed Carbon Monoxide Alarms
Portable Carbon Monoxide Alarms
By ApplicationResidential
Commercial
Industrial
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin AMerica
Brazil
Argentina
Chile
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Nigeria
Rest of Middle East and Africa
Key Market PlayersFirst Alert
Honeywell International Inc.
FireAngel
BRK Brands
Universal Security Instruments, Inc.
X-Sense
System Sensor Corporation
aico
Siemens
HOCHIKI Corporation