The value of the global fire extinguishers market size in 2022 was $5.3 Billion and is projected to reach $7.4 Billion by the end of 2030. The global market is likely to register a high growth rate of 5.62% during the forecast period.
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➤ The market’s expansion is facilitated by the expansion of infrastructural activities and the construction of structures.
The primary factor propelling the global fire extinguishers market is the mandatory and heightened implementation of safety standards by the government for industries. The demand for the market is also influenced by the increase in investments made by industries for fire safety and the technological advancements in the equipment used for safety purposes. These factors contribute to the market’s growth. Additionally, insurance companies are exerting an influence on the market by mandating the installation of a fire extinguisher in buildings that are insured.
➤ The market’s expansion may be impeded by the high cost of sophisticated fire extinguisher systems and the scarcity of trained professionals.
The fire extinguisher market is constrained by certain constraints, including the exorbitant cost of advanced fire extinguisher systems, which may restrict their adoption in price-sensitive markets. Additionally, the expansion of the fire extinguisher industry may be limited by the availability of substitutes, including fire sprinkler systems and fire-resistant materials. In addition, the absence of trained professionals who are capable of operating and managing fire extinguishers could also complicate matters. Finally, the market development could be influenced by the COVID-19 pandemic’s impact on the construction industry.
➤ The market may have ample opportunities due to the increase in demand for water-based fire extinguishers.
The demand for water-based fire extinguishers is also on the rise due to their safety and effectiveness. This is due to the fact that the water molecules assist in the rapid suffocation of the fire by reducing the oxygen level. The most significant aspect is that deionized water can be employed to extinguish electrical fires due to its poor conductivity. The residential utilization of fire extinguishers is also on the rise, as the majority of fire incidents occur in residential areas, such as single and two-family residences.
➤ The prevalence of regulations and the absence of standardization in fire safety codes may present a challenge.
The global fire extinguishers market is confronted with a variety of obstacles, including the necessity to consistently innovate and develop new technologies in order to accommodate evolving fire safety regulations and requirements. Furthermore, the absence of standardized fire safety codes and regulations in various regions and countries could pose obstacles for businesses that operate in multiple locations. The market also encounters challenges related to supply chain management and distribution channels, as the heavyweight and hazardous nature of fire extinguishers can complicate transportation and storage.
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The Global Fire Extinguishers Market is segmented based on product, application and region
Global Fire Extinguishers Market: Product Segment Analysis
● Multipurpose Dry Chemical
● Regular Dry Chemical
● Portable Fire Extinguisher
● Automatic Fire Extinguishers
● Wheeled Fire Extinguishers
● Knapsack Fire Extinguishers
Global Fire Extinguishers Market: Application Segment Analysis
● Industrial
● Commercial
● Residential
● Public Areas
● Others
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The global Fire Extinguishers market profiles key players such as:
● BRK Electronics
● Amerex Corporation
● United Technologies Corporation
● Kiddle Fire Systems
● Kosan Crisplant
● Ansul
● NAFFCO
● Flamestop Australia
● SFFECO Global
● Fike Corporation
● Johnson Controls
● Britannia Fire
● Buckeye Fire Equipment
● Tyco Fire Products LP
● Minimax GmbH & Company KG
● First Alert Inc.
● JL Industries Inc.
???? Recent Developments
• Amerex Corporation, a prominent manufacturer of fire extinguishers, introduced its latest line of environmentally favorable water mist fire extinguishers in August 2021. The new line is an optimal choice for areas with sensitive equipment or electronics due to its patented nozzle design, which generates a more effective vapor while consuming less water.
• Johnson Controls, a prominent manufacturer of fire protection systems and equipment, announced the acquisition of Silent-Aire, a manufacturer of mission-critical data center ventilation and infrastructure solutions, in June 2021. Johnson Controls will be able to broaden its product line and offer customers comprehensive infrastructure and fire protection solutions as a result of the acquisition.
➤ The global market will be dominated by Asia Pacific, with North America and Europe following in that order.
Asia Pacific is the dominant region in the global fire extinguisher industry. The Asia Pacific is succeeded by Europe and North America. The significant development in infrastructural activities in emerging economies, including Japan, China, and India, is the primary factor contributing to market growth. The construction sector, particularly residential and commercial infrastructure in urban areas, is expected to experience significant growth in the future years, which is expected to result in a significant demand for fire extinguishers.
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