The market for fire extinguishers is witnessing steady growth due to rapid industrialization, increasing construction activities for commercial purposes, and implementation of stringent fire safety norms for promoting public safety.
Dry chemical and dry powder category dominates the global fire extinguishers market. The global demand for dry chemical and dry powder fire extinguishers is estimated to be over 50,000 thousand units in 2017. These are the most widely used fire extinguishers across the world. These fire extinguishers can be used for different classes of fire, unlike other types of fire extinguishers, which can only be used for one or two classes of fire.
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North America, Europe, and other economically advanced regions have stringent fire safety norms, which make the installation of fire safety equipment, such as fire extinguishers, mandatory in commercial, residential, and industrial facilities. This is driving the demand for fire extinguishers in these regions. Moreover, emerging countries such as China, India, Brazil, and Indonesia, which are witnessing massive construction boom, are strengthening their fire safety norms in order to reduce the incidence of fire-related accidents. The growing adoption of strict fire safety norms in these countries is likely to encourage the demand for fire extinguishers, which, in turn, is expected to boost the fire extinguishers market in the coming years.
The Latin American fire extinguishers market is estimated to stand at around 9,640.4 thousand units in 2017. Brazil is estimated to hold the largest share in the LATAM fire extinguishers market in 2017, accounting for 37.8% and 34.2% shares in terms of volume and value, respectively.
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Over the past few decades, Brazil has witnessed a significant increase in construction activities. Also, the country has stringent fire safety norms, which promote the use of fire extinguishers.
Amerex Corporation, United Technologies Corporation, and Tyco Fire Protection Products are the leading manufacturers of fire extinguishers in the market. Most recently, in November 2017, the United States Consumer Product Safety Commission recalled around 40 million fire extinguishers in the country, some of which were manufactured around 40 years ago. This resulted in the sudden demand for fire extinguishers in the country. Amerex Corporation tapped into this sudden increase in the demand for fire extinguishers by boosting its production output.
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