The recently published report by IMARC Group, titled “Fire Extinguisher Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global fire extinguisher market reached a value of US$ 3.4 Billion in 2017. Fire extinguishers are used in emergency situations for putting out or controlling fires before the arrival of firefighters. They consist of a cylinder containing an extinguishing agent, nozzle, handle and pressure gauge. Fire extinguishers work by expelling the extinguishing agent at high pressure which helps in cooling the burning material; depriving the flame of oxygen; or interfering with the flame’s chemical reaction. The different types of extinguishing agent include water, foam, carbon dioxide, dry chemical, powder, wet chemical and vaporizing liquid.
Global Fire Extinguisher Market Trends:
The demand for fire extinguishers has been maintained by the strict fire safety norms in developed regions mandating their installation in residential, commercial and industrial spaces. In the recent years, the improving regulations in developing countries have propelled the demand for fire extinguishers. This trend has further been supported by increasing industrialisation coupled with construction of commercial spaces in these regions. However, the high cost of extinguishers and low penetration in residential spaces represent the major factors impeding the market growth. In line with this, the manufacturers are investing in R&D activities so as to produce fire extinguishers that are lightweight, cheaper, eco-friendly and have a longer shelf life. Moreover, the demand for composite foam and cold fire extinguishers is increasing as they have diversified applications and offer reduced agent use. Looking forward, the market is projected to exceed a value of US$ 4.7 Billion by 2023, expanding at a CAGR of 5.3% during 2018-2023.
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Global Fire Extinguisher Market Segmentation:
- On the basis of type, the fire extinguisher market has been segregated as knapsack, portable and wheeled. Amongst these, portable fire extinguishers lead the market as they can be used more easily and efficiently than their alternatives.
- Based on extinguishing agents, the market is segmented into foam, dry chemical, dry powder and carbon dioxide. Currently, dry chemical extinguishing agents dominate the market as they are comparatively cheaper and more versatile than the other extinguishing agents.
- On the basis of fire type, Class A extinguishers represent the largest segment. These extinguishers are used on fires originating from ordinary combustibles such as plastics, rubber, cloth, paper and wood. The other major segments include Class B, Class C, Class D and Class K extinguishers.
- Application-wise, the industrial sector holds the largest market share, followed by commercial sector, households, public areas and others. This can be attributed to rapid industrialization along with stringent fire safety regulations in various manufacturing facilities.
- Europe dominates the global fire extinguisher market, accounting for the majority of the total market share. Other major regions include North America, Asia Pacific, Latin America, and Middle East and Africa.
- Based on assessment of the import and export scenario, it has been found that the United States is the largest importer of fire extinguishers, whereas, China represents the leading exporter.
- The key players operative in the global fire extinguisher market include Amerex Corporation, Tyco Fire Protection Products, United Technologies Corporation, First Alert Inc., Minimax, Britannia Fire Ltd., Feuerschutz Jockel GmbH & Co. KG, Ceasefire Industries Pvt. Ltd., JL Industries and Desautel.
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