About Fire Extinguishers
The global fire extinguishers market is expected to be driven by the introduction of new products, new technologies, and growing awareness among individuals about safety as the stress on safety and protection of assets has increased with urbanization. Europe accounted for the largest market share and is projected to dominate the market because of the stringent fire safety regulations. It is followed by APAC and North America, respectively.
Technavio’s analysts forecast the global fire extinguishers market to grow at a CAGR of 7.12% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global fire extinguishers market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of fire extinguishers at the manufacturer level.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fire Extinguishers Market 2016-2020
Technavio recognizes the following companies as the key players in the global fire extinguishers market: Amerex, Tyco Fire Protection, Minimax, BRK, and Desautel.
Other prominent vendors in the market are: ANAF, Buckeye Fire Equipment, Britannia Fire, Douze It, Fire Fighter Industry, Kidde, NAFFCO, Safex, Strike First, and Supremex Equipment.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is advances in fire extinguishing technology. The technology used in fire extinguishers has evolved over years. The innovations introduced in fire extinguishers offers high-quality fire protection equipment to end-users. For example, halon-free fire extinguishers from Airbus Group uses the latest fire-extinguishing technology and incorporates a new eco-friendly design approach. The earlier halon-free 1301 agent, which was not eco-friendly, was replaced by NOVEC 1230, which does not contribute to ozone layer depletion or the greenhouse effect. The design of these fire extinguisher designs was changed to adapt to NOVEC 1230.”
According to the report, one of the primary drivers in the market is increase in demand from residential end-users. The global fire extinguishers market is expected to be driven by the increasing demand from residential end-users. There is a growing concern among consumers about health and safety, particularly in developed countries such as the US. Although, globally, this segment is expected to grow at a lower CAGR compared with the commercial and industrial segments, the potential for increasing the penetration in the residential segment is high in developed countries. So, a number of vendors in developed regions are likely to focus on residential consumers for growth.
Further, the report states that one major challenge in the market is need for training of fire extinguisher usage. Globally, over 90% of fire incidents can be controlled and extinguished if the correct type of fire extinguisher is used. Fire extinguishers are very easy to handle with basic training in identifying the class of fire. Depending on the source of fire, different classes of fire need different types of extinguishers. In fire safety, knowledge on the type of extinguisher to use will help control the fire in time. So, lack of proper knowledge and training prevents users from using the right type of extinguisher at the right time, which can be dangerous in the event of a fire accident. Fire safety training increases the knowledge and emergency response of building occupants when confronted with a fire or emergency situation.
Amerex, Tyco Fire Protection, Minimax, BRK, Desautel, ANAF, Buckeye Fire Equipment, Britannia Fire, Douze It, Fire Fighter Industry, Kidde, NAFFCO, Safex, Strike First, Supremex Equipment.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook