The latest report by QY Research on “Global Fire Extinguishers Industry Research Report Growth Trends and Competitive Analysis 2019-2025,” concentrates on the detailed investigation of the market condition, emerging trends, and key players. The report provides an in-depth understanding of the revenue structure, business strategies, and plans of the companies. The historical data supports the statistical analysis.
According to the research report, the global fire extinguishers market was valued at US$2570 mn in 2018 and it is expected to reach US$3260 mn by the end of 2025, rising at a CAGR of 3.5% between 2018 and 2025.
Global Fire Extinguishers Market: Drivers
The rising market of global fire extinguishers is boosted by several factors. The primary driver of this market are the strict government regulations for mandatory installation of fire extinguishers in every commercial, residential, industrial, and public areas including schools and colleges. Rapid pace of urbanization is yet another important factor helping the rise in demand of the fire extinguishers. High rise buildings and commercial spaces need such extinguishers for public safety in case of emergencies. Technological developments have its fair share in enhancing the market growth of fire extinguisher. The new technologically improved extinguishers are now available in the market which are easier to use and are perfect for residential use.
Global Fire Extinguishers Market: Segment Analysis
The global lens solution market is segmented based on type and application. In terms of type, the market is segmented into less than 5kg, 5kg-10kg, and more than 10kg. Based on application the market is segmented as commercial use, industrial use, and residential use. Among the segments, extinguishers for commercial use are most dominant in the market.
Global Fire Extinguishers Market: Regional Analysis
Based on the region, the global fire extinguishers market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America is expected to hold a significant share in the global fire extinguishers market. Europe too stands to have a strong position in the market. Asia Pacific, on the other hand, is the emerging region that promises to be great market in the future due to rapid urbanization.
Global Fire Extinguishers Market: The Key Players
The key players of the global fire extinguishers market are Tyco Fire Protection, UTC, Minimax, BRK, Amerex, BAVARIA, Yamatoprotect, Longcheng, Gielle Group, ANAF S.p.A., Presto, Sureland, Protec Fire Detection, Ogniochron, Tianyi, Desautel, HATSUTA SEISAKUSHO, NDC, Feuerschutz Jockel GmbH, Nanjing Jiangpu, Reje Safe, Lichfield Fire & Safety Equipment, MB, Mobiak, Cervinka, KANEX, Tianguang, and Pastor.
The key players of the global fire extinguishers are focussed on different strategies and concentrate on innovative technologies, product development, and joint ventures which help the global companies to stay ahead in the market and help the companies to boost their revenue.