The new report by Expert Market Research titled, ‘Global Fire Extinguisher Market Report, Size, Share, Price, Trends, Growth, Analysis, Industry and Forecast 2022-2027’, gives an in-depth analysis of the global fire extinguisher market, assessing the market based on its segments like products, extinguishing agents, fire, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): Approximately USD 27 billion
- Forecast CAGR (2022-2027): 4%
The increasing adoption of fire extinguisher in residential and commercial buildings, factories, and public places is driving the market. In addition, the stringent government regulations aimed towards reducing the risk of property fire and the risk of losing lives associated with are propelling the demand for the product.
Moreover, the increasing adoption of advanced electronical appliances, which can catch fire anytime, in the residential sector is encouraging the residents to purchase fire extinguisher as a handy equipment in case of emergency. This is an invigorating factor of the market. In terms of region, North America accounts for a significant share in the market owing to the favourable policies of the government, making fire extinguishers mandatory in the commercial and government areas.
Industry Definition and Major Segments
Fire extinguisher is defined as a portable metallic container which is used to cut fire in an area by interfering flame with water and chemicals. The contents of the product are compressed under high pressure and are released once the lock is removed and the handle is squeezed. Moreover, the wetting agents in the fire extinguisher put out fire very quickly and effectively. Fire extinguishers are kept handy in various places which can catch fire.
On the basis of product, the market can be segmented into:
- Portable
- Knapsack
- Wheeled
Based on extinguishing agent, the market has been categorised into:
- Dry Chemical (Powder)
- Foam
- Carbon Dioxide
- Others
The market can be broadly categorised based on fire, into:
- Class A
- Class B
- Class C
- Class D
- Class K
The significant applications of the product include:
- Industrial
- Commercial
- Residential
The regional markets for fire extinguisher include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The key trends in the fire extinguisher market include the technological advancements in the sectors such as electrical and electronics, and healthcare, which include the increasing production of modern electronic items and equipment build with a complex circuit, which can catch fire, if handled recklessly. In addition to this, the increasing adoption of fire extinguisher in the chemical industry owing to the growing RD activities in laboratories which involve highly reactive chemicals, is anticipated to be another key trend in the market.
Moreover, the increasing awareness about the damage a fire can cause to life and environment is anticipated to be a major trend in the market, encouraging the use of the product. Furthermore, the market is likely to be aided by the legal obligations of hotels, restaurants, and public administration buildings to keep fire extinguishers in case of emergency.
Key Market Players
The major players in the market are Amerex Corporation, The Desautel Group, Britannia Fire Ltd., BRK Brands, Inc., and Ceasefire Industries Pvt. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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