Australian fire detection market to grow steadily, reaching $393.4 million by 2016
Although the global economic crisis affected the Australian construction market in 2008 and 2009, scarcity of residential housing is currently boosting the market. This is creating demand for fire and smoke detection devices as well-informed consumers and emerging regulations make these devices a basic requirement. From 2010 onwards, the fire and smoke detection devices market in Australia is likely to register a growth rate of between 3.5 and 4 percent.
New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com), Fire and Smoke Detection Devices Market in Australia, finds that the market earned revenues of $312.0 million in 2010 and estimates this to reach $393.4 million in 2016. The smoke alarm market is expected to grow rapidly at a compound annual growth rate (CAGR) of 10.6 percent from 2009 to 2016 compared to a 1.6 percent growth in the fire detection devices market.
'Effective building regulations on fire safety devices is of utmost importance in Australia's fire and smoke detection devices market,' notes Frost & Sullivan Research Analyst Chukiat Wongtaveerat. 'Moreover, Australians have high concerns on the quality of life and safety levels, which have made fire safety devices in household and commercial settings a basic commodity over recent years.'
The declining prices of advanced smoke detection applications and the simplicity of the devices have also raised the demand for smoke alarm devices in households. However, the stagnation of the construction market in commercial buildings and industrial sectors is expected to have a short-term negative impact on the market. The high durability of the fire detection devices and smoke alarms and the declining number of fire incidents are likely to be long-term challenges for the market.
'If the device is not dented, painted, or damaged, the detector will easily last for 15 to 20 years without any problems,' notes Wongtaveerat. 'Similar care applied to smoke alarms with lithium batteries can help it last for 10 years without battery replacement.'
Even though rules and regulations on replacement and maintenance cycle for the devices are in place, end users tend to repair them rather than opt for upgrades or replacement.
'The current trend in fire detection is a shift toward addressable systems while the focus of the smoke alarms market is on photoelectric smoke alarms,' concludes Wongtaveerat. 'Going forward the positive growth rate in the fire and smoke detection systems market will mainly be driven by the expansion of the smoke alarm market, which currently accounts for 16 percent and is expected to reach 29 percent of total market in Australia by 2016.'
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