Fire extinguisher is a portable device which expels gas or water for extinguishing fire in small amounts, when an emergency arises. It is a safety equipment which comprises of a cylinder, nozzle, pressure gauge and a handle. Fire extinguishers cannot cease a large-scale fire and may require the expertise or guidance of the fire department. According to the latest report by IMARC Group, titled "Fire Extinguisher Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023", the global fire extinguisher market reached a value of more than US$ 4.4 Billion in 2017.
One of the primary factors fostering the growth of the global fire extinguisher market is strict government policies of installing a fire extinguisher in commercial, industrial and residential spheres in order to prevent any mishappenings. This has proliferated the demand for fire extinguishers. In addition, the market is also influenced by fire insurance agencies which make it mandatory for their customers to fix a fire extinguisher amidst residential and commercial buildings. Moreover, rapid urbanisation in numerous nations has augmented developments in infrastructural sector, directly facilitating the demand for fire extinguishers. Looking forward, the market value is projected to exceed US$ 6.4 Billion by 2023, expanding at a CAGR of approximately 6.5% during 2018-2023.
- Based on type, the market has been segmented as portable, knapsack and wheeled. Currently, portable fire extinguisher dominates the market holding the largest share.
- On the basis of extinguishing agent, the market is segregated into dry chemical, foam, carbon dioxide and dry powder. Among these, dry chemical exhibits a clear dominance in the fire extinguisher market.
- Based on fire type, the market is distinguished as Class A, Class B, Class C, Class D and Class K.
- Application-wise, the industrial sector represents the largest segment, followed by commercials, households, public areas and others.
- Region-wise, the market has been segmented into Europe, Asia Pacific, North America, Middle East & Africa, and Latin America. Amongst these, Europe is the leading market, accounting for the majority of the global share.
- On assessing the import and export scenario of the market, it is found that United States and China are the biggest importer and exporter of fire extinguishers, respectively.
- The competitive landscape of the market has also been examined with some of the key players being Amerex Corporation, United Technologies Corporation, Tyco Fire Protection Products, Minimax, Britannia Fire Ltd., First Alert Inc., JL Industries, Ceasefire Industries Pvt. Ltd., Feuerschutz Jockel GmbH & Co. KG and Desautel.
- This report provides a deep insight into the global fire extinguisher market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the fire extinguisher market in any manner.
Key Questions Answered in This Report:
- How has the global fire extinguisher market performed so far and how will it perform in the coming years?
- What are the main regions in the global fire extinguisher market?
- Which are the popular product types in the global fire extinguisher market?
- What are the key application segments in the global fire extinguisher market?
- What are the major fire types in the global fire extinguisher market?
- What are the chief extinguishing agents in the global fire extinguisher market?
- What are the various stages in the value chain of the global fire extinguisher market?
- What are the key driving factors and challenges in the global fire extinguisher market?
- What are the import and export trends of the global fire extinguisher market?
- What is the structure of the global fire extinguisher market and who are the key players?
- What is the degree of competition in the global fire extinguisher market?
- How is fire extinguisher manufactured?