Safety standards and norms adopted in almost every industries such as oil & gas, power and chemicals fuel the overall demand for global fire extinguishers market.
Valley Cottage, NY -- (SBWIRE) -- 12/19/2016 -- Fire extinguishers are excellent tools for putting out fires and saving lives. The fire protection sector is poised for an upsurge due to rising demand for fire extinguishers. A fire extinguisher is a fire protection instrument used to extinguish or control fires, often in emergency situations. Every fire extinguisher consists of a hand-held cylindrical pressure vessel comprising an agent which can be discharged to put out fire. As people today are more concerned regarding safety, fire extinguishers have always been a requirement in every commercial and residential buildings. Fire extinguishers have been made mandatory in developed countries and similar norms are being adopted by developing countries around the world. Safety standards and norms adopted in almost every industries such as oil & gas, power and chemicals fuel the overall demand for global fire extinguishers market.
Global Fire Extinguishers Market: Drivers & Restraints
The factors that are contributing to the growth of the global fire extinguishers market are safety government and industrial norms. Increased fire safety expenditure from the industrial segment, and technological innovations in equipment and safety systems are other factors which drive the growth of global fire extinguishers market. Use of automatic and portable fire extinguisher is preferred due to its light weight and is in high demand from consumers end. Growth in infrastructure and construction industry are key drivers for global fire extinguishers market, as fire extinguishers are being made mandatory in every commercial and residential project. Rise in raw material prices and agents used in fire extinguishers is a challenge for global fire extinguishers market.
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Global Fire Extinguishers Market: Segmentation
On the basis of product type, the global fire extinguisher market is segmented into,
Multi-Purpose Dry Chemical
Regular Dry Chemical
Portable Fire Extinguishers
Automatic Fire Extinguishers
On the basis of fire type, the global fire extinguisher market is segmented into,
On the basis of agents, the global fire extinguishers market is segmented into
Aqueous Film Forming Foams
On the basis of application, the global fire extinguishers market is segmented into
Factories and Food Processing Plants
Manufacturing and Construction sites
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Global Fire Extinguisher Market: Region-wise Outlook
In terms of geography, the global fire extinguisher market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan.The global fire extinguisher market is expected to register healthy CAGR during the forecast period. Asia-Pacific is the dominant market for fire extinguishers followed by Europe and North America. With growth in infrastructure in regions like Europe and Asia Pacific, mainly in emerging economies such as China, Japan and India, global fire extinguisher market is expected to showcase steady growth over the forecast period. Support of the government and safety initiatives such as increasing fire protection expenditure is expected to fuel the demand for fire extinguishers in Asia-Pacific.
Global Fire Extinguishers Market: Key Players
Some of the market participants in the global fire extinguishers market are Amerex Corporation, BRK Electronics, Minimax GmbH & Co. KG and Nationwide Fire Extinguishers.