This research report titled ‘Global Fire Extinguishers Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Sarah Haque, a lead analyst at Technavio for automation research, “With stable economies and lower capital and operating costs, emerging countries in APAC and Latin America are expected to be the ideal investment destinations for the global fire extinguishers market. The presence of fewer market players, higher growth potential, and better manufacturing potential will differentiate these destinations from other regional markets.”
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The report categorizes the global fire extinguishers market into three major end-user segments. They are:
Global fire extinguishers market for industrial users
Industrial users are the largest user segment of the global fire extinguishers market, contributing about 50% of the overall market revenue. Industrial users include manufacturing and testing facilities, research labs, and other storage structures. The driving factors for this user segment is the growth in the number of manufacturing units, research and testing facilities, and laboratories.
Fire extinguishers for industrial applications are larger in size to accommodate more extinguishing agent. Carbon dioxide and dry chemical fire extinguishers are the most common type of fire extinguishers used in this segment. Industrial fire hazards are the most dangerous, and industrial safety protocols and regulations are much more stringent compared to commercial and residential buildings.
Global fire extinguishers market for commercial users
The commercial users of fire extinguishers include commercial buildings used as office space or outlets. This was the second-largest end-user segment of the global fire extinguishers market in 2015, contributing 30% of the overall market revenue. “With the increase in investments in commercial real estate, this segment is expected to increase its contribution by more than 6% during the forecast period,” says Sarah.
The key driver for this segment is the growing investments in the commercial real estate market. The rising demand for commercial properties and office space will increase the number of healthcare facilities and technology and software-based organizations. These commercial buildings need to be equipped with a certain number of fire extinguishers on every floor based on the area of the floor and the regulations in the respective regions. This requirement is the single largest growth driver for the fire extinguishers market in this user segment.
Global fire extinguishers market for residential users
The residential segment comprises residential apartments, houses, and passenger and commercial vehicles. Several countries in North America and Europe have fire safety standards that mandate the installation of fire extinguishers in residential buildings and houses. Though no such regulations are in effect in other regions, every country has regulations that recommend the presence of fire extinguishers in vehicles, usually under the passenger seat of the vehicle. Further, APAC and Latin America will witness the introduction of more stringent safety regulations over the forecast period, which will drive the market.
Vendors in developing market are focusing on increasing the penetration of fire extinguishers in this segment since competition is low and rate of adoption is high compared to other segments.
The top vendors highlighted by Technavio’s industrial automation research analysts in this report are:
- Tyco Fire Protection
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