The global fire extinguisher market reached a value of US$ 4.4 Billion in 2018. A fire extinguisher is a portable safety device, which is widely utilized for extinguishing small fires during emergencies and minimizing the potential destruction before the arrival of firefighters. It comprises a cylinder that has an extinguishing agent, a nozzle, a handle and a pressure gauge. It primarily works by expelling the extinguishing agent at a high pressure, which assists in cooling the burning material, depriving the flame of oxygen and interfering with the flame’s chemical reaction.
Governments in numerous countries are introducing stringent safety norms to prevent any unexpected incident on account of fire outbreaks. This has encouraged the installation of extinguishers, especially in houses, restaurants, hotels, schools, hospitals, offices and factories. The demand for fire extinguishers is further supported by rising industrialization levels, coupled with the construction of commercial spaces, particularly in developing regions. Moreover, the market is influenced by insurance agencies, which make it mandatory to install a fire extinguisher in insured buildings. Apart from this, the leading players in the industry are introducing eco-friendly, gas- or powder-based fire extinguishers that do not release toxic gases. They are also expanding their product portfolio by including compact, lightweight and cost-efficient fire extinguishers. Various companies are also investing in merger and acquisitions (M&A) to expand their consumer-base and broaden their market operations around the world. Looking forward, IMARC Group expects the market value to reach US$ 5.9 Billion by 2024, at a projected CAGR of 4.8% during 2019-2024.
Breakup by Product:
At present, portable fire extinguishers represent the most preferred product type worldwide.
Breakup by Extinguishing Agent:
Amongst these, dry chemical accounts for the majority of the total market share.
Breakup by Fire:
Class A fires, which involve solid combustible materials like coal, wood, paper, textiles and plastics, currently exhibit a clear dominance in the market.
Breakup by Application:
The industrial sector is the leading application segment and accounts for the largest market share.
On the geographical front, Europe represents the largest market around the world.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the key players operating in the industry. Some of these players are Amerex Corporation, United Technologies Corporation, Tyco Fire Products LP, Minimax GmbH & Company KG, Britannia Fire Ltd., First Alert Inc., JL Industries, Inc., Ceasefire Industries Pvt. Ltd., Feuerschutz Jockel GmbH & Co. KG and Desautel.
Key Questions Answered in This Report:
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