The global fire extinguishers market is predicted to reach $6,452.3 million in 2023, growing at a CAGR of 6.2% during the forecast period (2017–2023). The market is progressing because of the increasing construction activities and stringent fire safety norms. A fire extinguisher is a firefighting device that is used to control small breakouts of fires. The device consists of a pressurized cylindrical vessel, which is filled with a fire-extinguishing agent, such as foam, carbon dioxide, water or dry powder. The fire-extinguishing agent is discharged over the burning substance to douse the fire.
In terms of end-user, the fire extinguishers market is categorized into residential, transport, industrial, and commercial users. The industrial category is predicted to contribute the highest revenue to the market during the forecast period. This is because fire extinguishers are being increasingly installed in industrial facilities, such as assembly lines, processing plants, and manufacturing plants, to avoid major fire hazards. The residential category is expected to grow at the highest CAGR during the forecast period; housing societies, independent houses, apartments, and villas are the major residential users of fire extinguishers.
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North America is expected to be the largest market for fire extinguishers
Globally, North America has been leading the fire extinguishers market and is estimated to contribute more than 30.0% share to the market in 2017 in terms of value. U.S. and Canada are two of the world’s most well-developed demand-generating regions that strictly adhere to fire safety norms. Besides, the development of new infrastructure projects in these countries is expected to boost the fire extinguishers market in the coming years.
Increasing construction activities are expected to drive the market growth
The construction industry, across the world, has witnessed rapid growth in recent years, as emerging nations, such as China, India, and Indonesia, continue to invest heavily in new infrastructure projects for commercial and residential purposes. Besides, high-income nations, such as the U.S., Saudi Arabia, Japan, and the U.A.E., are pouring fresh investments in construction activities to modernize their infrastructure with the development of smart cities. Upcoming construction projects, such as high-rise buildings, industrial plants, and commercial centers, are expected to drive the fire extinguishers market during the forecast period.
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Fire Extinguishers Market – Competitive Landscape
Some of the major players operating in the global fire extinguishers market are Amerex Corporation, United Technologies Corporation, Minimax, Britannia Fire Ltd., First Alert Inc., JL Industries, Ceasefire Industries Pvt. Ltd., Feuerschutz Jockel GmbH & Co. KG, Tyco Fire Protection Products, and Desautel.
GLOBAL FIRE EXTINGUISHERS MARKET SEGMENTATION
By Product Type
- Dry Chemical and Dry Powder
- Carbon Dioxide
- Foam Based
- Water Based
- Clean Agent
- Trolley Mounted
By End User
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Korea
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
This post was originally published on Raleigh Recorder