Market Research Report
Published: July 1, 2022
Global Industry Analysts, Inc.
Content info: 711 Pages
Delivery time: 1-2 business days
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Global Fire Extinguishers Market to Reach US$7.1 Billion by the Year 2026
Fire extinguishers are used as safety devices in homes and commercial/work places to put out or control small fires for minimizing damage until trained fire fighters arrive on site. Improving global GDP, resurgence in remodeling and renovation activity in developed economies, steady rise in new constructions in emerging markets, and stricter law enforcements are driving growth in the market. Along with their expiration date, the existence of international, national, or local building regulations, laws, and codes implies that some of the fire extinguishers must be replaced annually, which generates enough demand to ensure the industry`s stability. Additional opportunities generated by the demand for fire suppression technologies and other proactive fire management systems, hold potential for the industry`s growth. Although the construction industry remains the primary end-use sector for fire extinguishers, growth is forecast to improve from expanding applications in automobiles, military vehicles, and aircrafts. Growing emphasis on safety is fueling demand for automotive fire extinguishers and poised to benefit against this backdrop are small, portable and lightweight fire protection systems. The growing base of military vehicles, especially army ground combat vehicles, is forecast to benefit demand for fast-opening hand-held fire extinguishers (HFE) to safeguard against combat-induced fires.
Amid the COVID-19 crisis, the global market for Fire Extinguishers estimated at US$5.2 Billion in the year 2022, is projected to reach a revised size of US$7.1 Billion by 2026, growing at a CAGR of 7.5% over the analysis period. Dry Chemical & Dry Powder, one of the segments analyzed in the report, is projected to grow at a 7.4% CAGR to reach US$5.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Carbon Dioxide segment is readjusted to a revised 9% CAGR for the next 7-year period. This segment currently accounts for a 14% share of the global Fire Extinguishers market. Dry chemical based fire extinguishers put out fire mainly by disrupting the fire triangle`s chemical reaction. These blue colored extinguishers are multi-purpose. Currently, the extensively used fire extinguisher type is the multiple use dry chemical, which is most efficient on class A, class B and class C fires. CO2 fire extinguishers, which can be deployed on Class A fires, put out fire by removing oxygen component from the fire triangle as well as eliminating the heat through an extremely cold release. These black colored fire extinguishers are ideal for electrical fires
The U.S. Market is Estimated at $1.4 Billion in 2022, While China is Forecast to Reach $1.2 Billion by 2026
The Fire Extinguishers market in the U.S. is estimated at US$1.4 Billion in the year 2022. The country currently accounts for a 27.9% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.2 Billion in the year 2026 trailing a CAGR of 9.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 7.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR while Rest of European market (as defined in the study) will reach US$422 Million by the end of the analysis period. Market growth is primarily led by change in standard building codes and mandating necessary deployment of fire extinguishers coupled with strong construction sector in developing markets such as Asia-Pacific, Latin America, Middle East and Eastern European markets. Both China and India have been investing significantly in expanding their infrastructure in order to gain competitive advantage and support burgeoning economy and population. The recovery in the construction industry in the US, coupled with steady gains in construction spending in developing countries including BRICs and CIVETs, is expected to drive the demand for fire extinguishers in the next few years.
Foam-based Segment to Reach $658.5 Million by 2026
Foam-Based and Water-Based Extinguishers put out fire by eliminating the heat component from the fire triangle, while foam agents remove oxygen component from additional components. Foam extinguishers are expensive, and suitable for diverse use except for Class C fires due to shock risk. There are Aqueous Film Forming Foam (AFFF) based and Alcohol Resistant Aqueous Film Forming Foam (ARAFFF) based extinguishers, known as Class A and B fire extinguishers for fighting chemical fires, which involve alcohol. In the global Foam-based segment, USA, Canada, Japan, China and Europe will drive the 6.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$355 Million 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. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$94.6 Million by the year 2026, while Latin America will expand at a 7.9% CAGR through the analysis period.
In the Spotlight - Stored Pressure Fire Extinguishers and Cartridge-Operated Fire Extinguishers
In stored pressure fire extinguishers, the pressure and agent are mixed in a single container within the extinguisher. But in a cartridge-operated extinguisher, the agent or powder is present inside and a pressure cartridge exists separately, which needs to be activated for pressurizing the extinguisher. While the PASS method can be used for operating a stored pressure extinguisher, the operation of a cartridge-operated extinguisher includes an additional step. The pressure cartridge needs to first activated, which provides pressure to the extinguisher`s inside. When the cartridge gets activated, it can be aimed, squeezed, and moved across to put-out flames. The inspection and maintenance of these extinguishers also differs. The inspection process for a cartridge-operated fire extinguisher is lengthy, including nearly 43 steps. A hydrostatic test is required once in 12 years, however an internal evaluation (6-year) is not necessary. For a stored pressure fire extinguisher, the inspection process is faster, only having nearly 10 steps. But they require an internal examination once every 6 years and also a hydrostatic test once in 12 years. Monthly inspection for both the extinguishers is required to ensure that the extinguishers are present in their allocated locations, are accessible, the instruction labels are readable, tamper indicators and seals are present, and that there are no indications of clogging, leakage, damage, or corrosion.
Cartridge-operated extinguishers are suitable for areas vulnerable to negative conditions or facilities that have low temperatures. Although cartridge-operated extinguishers have a longer life and have lesser number of accidental discharges, they however are heavy and there exists the possibility of the agent being tampered with as the pressure is not stored within the extinguisher. Latest cartridge-operated extinguishers have an indicator which indicates when the pressure is activated. On a stored-pressure extinguisher, the pressure gauge is regarded as beneficial.
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