As per a Future Market Insights’ (FMI) analysis, the fire extinguisher market is projected to be valued at over ~US$ 3.6 Bn in 2021, expanding at a CAGR of ~5.7% over the forecast period of 2021-2031.
Increasing industrial and commercial sector applications of fire extinguishers, coupled with the implementation of stringent regulations and building codes are likely to result in increasing demand over the forecast period.
However, the ongoing crisis caused by the COVID-19 pandemic has severely impacted the global economy. It has resulted in a complete shutdown of the supply chain networks and manufacturing activities. This also has negatively impacted the overall operations in the fire extinguisher market.
The market is however expected to witness lucrative opportunities during the forecast period owing to increasing demand from commercial and industrial sectors. New unit sales and replacement/retrofit jobs will contribute to growth.
Request Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-572
Increasing regulations for building design codes in the residential sector will also generate gains in the coming decade. Moreover, manufacturers are investing in R&D activities to offer innovative and technologically advanced product offerings. These factors are expected to positively influence the growth in demand for fire extinguishers during the forecast period.
Key Takeaways of the Fire Extinguisher Market Study
- Carbon dioxide extinguishers will account for the leading market share of over 30%, on the back of easy access to raw materials and efficacy in fire control.
- Dry chemical fire extinguishers are increasingly adopted, due to their superior efficiency in draught-free conditions.
- Germany will emerge as a key market for fire extinguishers on the back of the implementation of stringent codes for ensuring better safety in buildings.
- The U.S. dominates the North American market, accounting for over 80% of sales in the region.
- China will lead the East Asia market, exhibiting a growth rate of over 6.5% CAGR through the assessment period.
“With the ever-evolving requirements of the global construction industry, demand for fire safety equipment has grown rapidly. Fire extinguishers in particular, have been at the center of these developments in terms of economically feasible solutions. Innovative product offerings have been important for manufacturers to gain competitive benefits,” says an analyst of Future Market Insights.
Request to ask an expert here@ https://www.futuremarketinsights.com/ask-question/rep-gb-572
Competitive Landscape
The fire extinguisher market is highly fragmented. The penetration of local and regional players makes this market highly competitive. Companies operating in the market are trying various strategies to gain a competitive edge while maintaining their longstanding relationships with several equipment distributors and end-users.
Some of the key players in the market include but are not limited to Kidde, AMEREX CORPORATION, Hochiki Corporation, NAFFCO FZCO, DESAUTEL SAS, HATSUTA SEISAKUSHO Co. Ltd, Yamato Protec Corporation among others.
Find More Valuable Insights
The research report analyzes the market demand trends of the fire extinguisher market. The global market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of fire extinguishers. As per Future Market Insights’ research scope, the fire extinguisher market has been studied and segmented based on pipe size, application, construction material and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market on both, the supply side and demand side.
Related Reports:
Fire Protection Systems for Industrial Cooking Market : Fire protection systems for industrial cooking market are slated to top US$ 4.8 Bn in 2022. Expanding at a healthy 5.9% CAGR, the market size is projected to total US$ 7.2 Bn by 2029
EUV Lithography Market : EUV Lithography sales were valued at around US$ 4,648.6 Mn by the end of 2021. The market is projected to register 21.5% CAGR between 2022 and 2029 reach a value of US$ 22,978.6 Mn by 2029
Water Treatment System Market: Water treatment market stood at US$ 66,094 Mn in 2022 and is slated to increase at a CAGR of 6.8% to reach a valuation of US$ 111,922 Mn by the end of their forecast period
Elevator and Escalator Market: Global elevator and escalator consumption is anticipated to increase at a 4.5% CAGR from 2022 to 2030
Facility Management Services Market: Facility management services market is expected to increase at a CAGR of 12.6% during the forecast period, from US$ 42.2 billion in 2021 to US$ 76.3 billion in 2026
The post Fire Extinguisher Market Segmentation, Outlook, Industry Report to 2031| Kidde, AMEREX CORPORATION, Hochiki Corporation appeared first on Future Market Insights.
