According to the latest report by IMARC Group, titled “Fire Extinguisher Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 4.4 Billion in 2018. A fire extinguisher is a portable fire protection apparatus used in emergencies for putting out or controlling fires before the arrival of firefighters. It consists of a cylinder containing an extinguishing agent, nozzle, handle and pressure gauge. It works by expelling the extinguishing agent at high pressure, which helps by cooling the burning material; depriving the flame of oxygen; or interfering with the flame’s chemical reaction. Many fire extinguishers available today are labeled with more than one designator and can be used for different types of fires. With the increasing outbreaks of fire incidents across the world, the demand for fire extinguishers is continuously rising.
Report Overview: https://www.imarcgroup.com/fire-extinguisher-market
Market Trends:
Governments of various nations have introduced stringent safety standards to avert any untoward incident due to fire outbreaks. This has led to an increase in the installation of extinguishers in restaurants, hotels, buildings, schools, hospitals, offices, houses and factories. Besides this, the leading manufacturers are focusing on launching eco-friendly gas- or powder fire-based extinguishers which do not release toxic gases or residue. They are also designing a more extensive product portfolio including compact, lightweight and cost-efficient fire extinguishers. Moreover, several companies are emphasizing on mergers and acquisitions (M&A) to expand their consumer-base and broaden their market operations worldwide. For instance, Kidde, a manufacturer and distributor of fire detection and suppression equipment, has acquired the manufacturing operations of the British specialty chemical company, Croda International, in Liverpool and Lyon. Looking forward, the market value is projected to reach US$ 5.9 Billion by 2024, expanding at a CAGR of 4.8% during 2019-2024.
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Market Summary:
- Based on the type, the market has been segmented as portable, knapsack and wheeled. Portable fire extinguishers currently represent the most popular type, dominating the market.
- On the basis of the extinguishing agent, the market is segregated into dry chemical, foam, carbon dioxide dry powder and others. At present, dry chemical exhibits a clear dominance in the fire extinguisher market.
- The market has been categorized based on the fire type into Class A, Class B, Class C, Class D and Class K. Amongst these, Class A is the leading segment, holding the largest market share.
- Based on the application, the report finds that the industrial sector is the largest segment, accounting for the majority of the total market share. It is followed by commercial, households, public areas and others.
- Region-wise, Europe enjoys the leading position in the market. Other major regions include Asia Pacific, North America, Middle East and Africa, and Latin America.
- On assessing the import and export scenario of the market, it has been found that the United States and China are the biggest importer and exporter of fire extinguishers, respectively.
- The competitive landscape of the market has also been analyzed 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.
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