Global Fire Extinguisher Market To Reach $ 7.1 Billion By 2026 |
SAN FRANCISCO, December 8, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Fire extinguishers – Trajectory and analysis of the global market”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 17; Posted: October 2021
Executive pool: 504
Companies: 218 – Players covered include Amerex Corporation; BRK Brands, Inc .; Desautel; Gunnebo India Private Ltd. ; Johnson Controls International Plc; Minimax GmbH & Co. KG; Nationwide fire extinguishers; Protec Fire and Security Group Ltd .; Siemens Building Technologies and others.
Blanket: All major geographies and key segments
Segments: Product type (dry chemical and dry powder, carbon dioxide, foam based, other types of products); Portability (portable, cart mounted); End use (industrial, commercial, other end use)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Fire Extinguishers Market To Reach 7.1 billion US dollars by 2026
Fire extinguishers are used as safety devices in homes and commercial / work places to extinguish or control small fires to minimize damage until qualified firefighters arrive on site. Improving global GDP, resurgence of remodeling and renovation activities in developed economies, steadily increasing new construction in emerging markets and strengthening of law enforcement are driving market growth. Besides their expiration date, the existence of international, national or local regulations, laws and building codes means that some of the extinguishers must be replaced every year, which generates sufficient demand to ensure the stability of the industry. . The additional opportunities generated by the demand for fire suppression technologies and other proactive fire management systems offer growth potential for the industry. Although the construction industry remains the main end-use sector for fire extinguishers, growth is expected to improve with the expansion of applications in automobiles, military vehicles and airplanes. The growing emphasis on safety is fueling the demand for automotive fire extinguishers and, in this context, small, portable and lightweight fire protection systems are expected to benefit. The growing base of military vehicles, especially army ground combat vehicles, is expected to benefit the demand for portable quick-opening (HFE) fire extinguishers to protect against fires caused by combat.
Amid COVID-19 Crisis, Global Fire Extinguisher Market Is Estimated At 4.6 billion US dollars in 2020, is expected to reach a revised size of 7.1 billion US dollars by 2026, with a CAGR of 7.5% over the analysis period. Dry Chemical & Dry Powder, one of the segments analyzed in the report, is expected to grow at a CAGR of 7.4% to reach US $ 5.1 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the carbon dioxide segment is readjusted to a revised CAGR of 9% for the next 7 year period. This segment currently accounts for a 14% share of the global fire extinguisher market. Dry chemical extinguishers extinguish fires primarily by disrupting the chemical reaction of the fire triangle. These blue colored fire extinguishers are versatile. Currently, the most widely used type of extinguisher is the multi-purpose dry chemical, which is most effective against Class A, B and C fires. CO2 extinguishers, which can be deployed on Class A fires. , extinguish fire by removing the oxygen component of the fire triangle as well as removing heat through extremely cold release. These black colored fire extinguishers are ideal for electrical fires
The US market is estimated at $ 1.3 billion in 2021, when China is expected to reach $ 1.2 billion by 2026
The fire extinguisher market in the United States is estimated at US $ 1.3 billion in 2021. The country currently represents a 27.9% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 1.2 billion during the year 2026, with a CAGR of 9.2% throughout the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 5.3% and 7.5% respectively over the period of analysis. In Europe, Germany is expected to grow by around 5.5% CAGR while the rest of the European market (as defined in the study) will reach US $ 422 million at the end of the analysis period. Market growth is primarily driven by the change in standard building codes and the mandatory deployment of fire extinguishers coupled with a strong construction sector in developing markets such as Asia Pacific, Latin America, Middle East and Eastern European markets. Both China and India have made significant investments in expanding their infrastructure to gain competitive advantage and support the booming economy and population. The recovery of the construction industry in the United States, coupled with steady increases in construction spending in developing countries, including the BRICs and CIVETs, is expected to boost demand for fire extinguishers in the coming years.
Foam-based segment to reach $ 658.5 million by 2026
Foam and water based extinguishers extinguish the fire by removing the heat component of the fire triangle, while foaming agents remove the oxygen component from the additional components. Foam extinguishers are expensive and are suitable for a variety of uses except for Class C fires due to the risk of shock. There are Aqueous Film Forming Foam (AFFF) and Alcohol Resistant Aqueous Film Forming Foam (ARAFFF) extinguishers, called Class A and B extinguishers for chemical firefighting, which involve alcohol. In the global foam segment, United States, Canada, Japan, China and Europe will lead to the estimated 6.8% CAGR for this segment. These regional markets representing a combined market size of US $ 355 million in 2020 will reach a projected size of US $ 559.3 million at the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach 94.6 million US dollars by 2026, while Latin America will increase at a CAGR of 7.9% throughout the analysis period. Following
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SOURCE Global Industry Analysts, Inc.