Worldwide Fire Extinguisher Market – Industry Growth Opportunity Assessment
In the report, “Global Fire Extinguisher Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast” added by DecisionDatabases.com the market overview, market size, growth trends and future prospects are elaborately covered. The report incorporates the fire extinguisher market analysis on the basis of product-type, fire types, agents, end-user, and application. The report offers details about the drivers, restraints and growing opportunity in the industry.
Increasing safety norms & supportive government initiatives along with the rising technological advancements in the safety systems are together expected to augment market growth for this tool over the coming years. Growing construction and infrastructure industry is further anticipated to show growth of this equipment in the next six years. The stringent practices and regulations imposed by safety authorities require a specific number of fire extinguisher devices to be installed in commercial & residential buildings, industrial facilities, and automobiles, this further assists in the market growth of fire extinguisher over the forecast period. The increasing popularity of light-weight extinguisher devices is also expected to boost the market growth of the device. Over the past few years, stringent regulations across the globe have mandated the installation of fire extinguisher device in the commercial and passenger vehicles. However, a steep rise in the prices of key raw materials is a major concern for the players, which can hamper market growth for fire extinguisher over the coming years.
A fire extinguisher is a fire protection tool used to control emergency small fire mishap instantly. Fire extinguishers are mainly put in an easily accessible place in any buildings. As per fire safety regulation, fire extinguisher device requires regular maintenance time-to-time by a skilled person to operate effectively and safely.
The global fire extinguisher market has been segmented based on product types into multi-purpose dry chemical, portable fire extinguishers, regular dry chemical, automatic fire extinguishers and others. The dry chemical fire extinguisher is a leading product type segment and is expected to continue its dominance over the forecast period owing to its growing demand due to its property to control different types of fires across the globe. The fire extinguisher market has been further segmented based on fire types into solids, flammable liquids, electrical equipment, flammable gasses, combustible metals, cooking and others. Furthermore, the fire extinguisher market has been segmented based on agents, end-user, and applications.
Europe and the Middle East & Africa (EMEA) accounted for major market share and are projected to continue its dominance over the coming years on account of the presence of stringent fire safety regulations to install a large number of fire extinguishing devices to avoid any mishap along with the growing adoption amongst household users in the region.
The key industry players include Amerex Corporation, BRK Electronics, Minimax GmbH & Co. KG and Nationwide Fire Extinguishers. The global market is dominated by the key players with a string distribution network. Product innovation is a major strategy for the vendors to occupy a large market share. Growing innovations in the fire extinguisher industry have initiated an aggressive competition in the market.
In Nov 2012, Eureka Forbes had launched a portable fire extinguisher brand to expand its product portfolio.
In May 2016, ABC Firetech Fire Engineers has announced to launch a new fire extinguisher app., which is compatible with mobile.
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