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.
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.
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