Albany, NY -- (SBWIRE) -- 11/30/2015 -- This market research report includes a detailed segmentation of the fire extinguisher market by product type (dry chemical, foam, and carbon dioxide) and by end users (industrial, commercial, and residential buildings). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are Amerex, BRK, Desautel, Minimax, and Tyco Fire Protection.

Technavios research analyst predicts the global fire extinguisher market to grow steadily at a CAGR of 9% during the forecast period. The stringent regulations and practices enforced by safety authorities demand a certain number fire extinguishers to be present in residential buildings, commercial building, industrial facilities and even automobiles, thereby driving the market growth.

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The rising popularity of light-weight fire extinguishers is also anticipated to fuel the market growth during the forecast period. With strict regulations around the world mandating passenger and commercial vehicles to maintain a fire extinguisher inside the vehicle, the demand for ultra-light weight fire extinguisher is expected to rise rapidly during by the end of 2019. For instance, Flame Guard USA introduced X-Tinguish, which has the same size as a room freshener can and can be used at home, in cars, motorcycles, boats and for commercial purposes as well.

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The dry chemical fire extinguishers dominated the fire extinguisher market during 2014 with a market share of around 34%. This segment is anticipated to retain its market dominance until the end of 2019, growing at a rate of 12%. The ability of the dry chemical powder to extinguish different types of fires is the primary driver for the growth of this segment.

Industrial users contributed 50% of the market revenue during 2014. This end user segment includes manufacturing and testing facilities, research labs, and other storage structures. The increase in the number of manufacturing, research and testing facilities and laboratories is expected to drive the growth of this user segment over the forecast period. The most common type of fire extinguishers used in this segment is carbon dioxide and dry chemical fire extinguishers.

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EMEA accounted for 42% of the market share during 2014 and is expected to grow at a CAGR of 8% during the forecast period. The strict fire safety regulations and rules have led to the growth of the fire extinguisher market in this region. Europe also has the largest number of household users for fire extinguisher compared to the other regions.

Competitive landscape and key vendors:

The global fire extinguisher market is dominated by the key vendors, with extensive market reach and distribution networks. Innovations in terms of the body design and the extinguishing agents used have made it fairly easier for the key market players to distinguish their products from the rest of the market offerings. The market is witnessing increased competition due to rise in innovations in the fire extinguisher industry.

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