LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global carbon monoxide (CO) alarm market to grow at a CAGR of above 6% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global CO alarm market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
One of the measures to alert the occupants in residential and commercial buildings about the presence of CO is to install CO alarms. The increasing number of CO accidents has driven the market for CO alarms globally. The inhalation of exceeded concentration of CO can lead to various health hazards such as nausea, impaired thought process, respiratory failure, and even fatality.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global CO alarm market:
Increasing incidence of carbon monoxide accidents
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. One way to alert the presence of CO is to install a CO alarm.
Sarah Haque, a lead research analyst at Technavio, says, “CO is caused by fuels that are not burnt completely. These include wood, gasoline, natural gas, and coal. Various common sources of CO include closed garages, furnaces, kitchens, underground mines, and petroleum refineries.”
Adherence to carbon monoxide protection safety standards
CO is a hazardous gas that affects the brain and the blood circulation system. There are various safety standards for CO detectors, which includes CO alarms as well. Various local, regional, and national safety authorities are adopting the use of CO detectors to avoid any unwanted incidences.
“The National Fire Protection Association 720 provides standards for the performance, installation, inspection, operation, and maintenance of CO detection and warning equipment, which includes CO alarms,” adds Sarah.
Demand from commercial and residential end-users
Commercial and residential end-users include individual consumers, commercial buildings, public premises, healthcare organizations, and educational institutions. Any CO leaks or accumulation of CO can affect people. The increasing number of accidents and the requirement of the safety of people resulted in the increased demand for CO alarms.
Common sources of CO are found majorly in home appliances such as geysers, dryers, and refrigerators and areas that lack proper ventilation such as garages. Since CO is odorless and colorless, the risk of affecting individuals is high. Therefore, the need for CO alarms has been increasing from residential and commercial end-users.
Top vendors:
- First Alert
- Kidde
- Universal Security Instruments
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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