Fire Extinguisher Market - Outline
Emergence of new technologies owing to remarkable breakthroughs in chemical and material sciences have made it possible for the players in global fire extinguisher market to leverage new materials for the manufacturing of fire extinguishers. Certain manufacturers and players in the global fire extinguisher market are introducing new types of products that do not release toxic chemicals when used. Introduction of these eco-friendly and powder or gas based fire extinguishers is expected to create lucrative opportunities in the global fire extinguisher market in coming years. Some vendors are also focused on producing lightweight, cost effective, and compact products that may propel the consumer interest in the global fire extinguisher market.
Rising momentum in the global fire extinguisher market can also be attributed to stringent regulations created by both the governments as well as insurance companies, which mandate the owners of the insured buildings to house a fire extinguisher on the premises. This has resulted in the increased demand in the global fire extinguisher market. However, presence of potent alternative products such as automated sprinkler systems and hydrant systems can negatively impact the growth of the global fire extinguisher market in coming years. On the other hand, cost effective, portable, and easy to use nature of the traditional fire extinguishers still motivates sales of the products in global fire extinguisher market.
Fire Extinguishers Market: Introduction
A fire extinguisher is an active fire protection device used for extinguishing small fires, often in emergency situations such as no escape route, smoke, and explosion hazard. A fire extinguisher consists of a hand-held cylindrical pressure vessel containing an agent that can be discharged to extinguish a fire. Fire extinguishers also come with non-cylindrical pressure vessels but these are less common. In stored pressure units, the expellant and firefighting agent is stored in the same chamber. Nitrogen is used with dry chemical extinguishers, and air with water and foam extinguishers. Cartridge-operated extinguishers contain the expellant gas in a separate cartridge that is punctured prior to discharge, exposing the propellant to the extinguishing agent. These extinguishers use compressed carbon dioxide
Key Drivers of the Fire Extinguishers Market
Increasing construction activities for the development of commercial centers, new industrials plants and launch of new housing projects and implementation of strict norms related to fire safety is positively augmenting the growth of the global fire extinguishers market. In addition, innovation in sound-based firefighting technology is another factor likely to influence growth of this market in the near future.
Vacuum Extinguish Method (VEM) in space creating opportunities in the fire extinguishers market
Researchers have developed a new concept of fire extinguishing, namely Vacuum Extinguish Method. VEM is based on the 'reverse' operation of the conventional fire extinguishing procedure. It sucks the combustion products, even flame and the firing source itself, into a vacuum chamber to clean up the firing zone. This concept is beneficial for space use, as it prevents the spread of harmful combustible products throughout the enclosed cabin. It is a major development and will provide immense opportunities in the fire extinguishers market.
Risk to life and property - restraints of the fire extinguishers market
Proper use of fire extinguishers is generally safe but there is some risk in terms of mild respiratory, skin, or eye irritation. Use in areas with poor air flow, use with intent to harm someone, or intentional inhalation of fire extinguishers can produce serious toxicity and would require medical evaluation. Fires not only result in the loss of many precious lives and injuries to many but also inflict heavy property loss. Fire in residential buildings, especially in high rise buildings, become more complex and may result in deaths and huge property loss. Such factors restrain the market growth.
North America the dominant region
From a geographical point of view, North America is likely to dominate the global fire extinguishers market. The U.S. is the largest market for fire extinguishers due to growing construction activities in the region along with the implementation of strict fire norms, which is stimulating growth of this market.
Key Players Operating in the Global Market
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the fire extinguishers market are:
- Amerex Corporation
- JL Industries
- Britannia Fire Ltd
- United Fire Extinguishers
- BRK Brands
- Ceasefire Industries Pvt. Ltd.
Fire Extinguishers Market: Research Scope
Fire Extinguishers Market, by Type
Fire Extinguishers Market, by Installation
Fire Extinguishers Market, by Class
- Class A (ordinary combustibles)
- Class B (flammable liquids)
- Class C (electrically energized fires)
- Class D (flammable metals)
Fire Extinguishers Market, by Extinguisher
- ABC powder fire extinguisher
- Carbon dioxide fire extinguisher
- Wet chemical fire extinguisher
- Water mist fire extinguisher
- Foam fire extinguisher
- Clean agent fire extinguisher
Fire Extinguishers Market, by End-user
Fire Extinguishers Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the fire extinguishers market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.