PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104275
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104275
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Global Fire Extinguishers Market to Reach $7.6 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Fire Extinguishers estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$7.6 Billion by 2027, growing at a CAGR of 7.5% over the analysis period 2020-2027. Dry Chemical & Dry Powder, one of the segments analyzed in the report, is projected to record a 7.4% CAGR and reach US$5.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Carbon Dioxide segment is readjusted to a revised 9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 9.2% CAGR
The Fire Extinguishers market in the U.S. is estimated at US$1.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 9.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 7.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.
Foam-based Segment to Record 7% CAGR
In the global Foam-based segment, USA, Canada, Japan, China and Europe will drive the 7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$355 Million in the year 2020 will reach a projected size of US$559.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 7.9% CAGR through the analysis period.
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