Press release
Fire Extinguishers Market Set for Rapid Growth by 2024
The fire extinguishers are safety tools that are used for putting off the fires and save the human lives. The fire protection sector has an increasing demand for the fire extinguishers. A fire extinguisher helps in extinguishing the fire and controls the fire from spreading to the surrounding. A fire extinguisher has a pressure vessel that can be hand-held and is generally in a cylinder shape; in that, there is an agent which when discharged extinguishes the fire.
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Global Fire Extinguishers Market: Segmentation
The global market for the fire extinguishers is fragmented into product type, fire type, agents, and applications. Based on the product type, the global market is segregated into automatic fire extinguishers, regular dry chemical, multi-purpose dry chemical, portable fire extinguishers, and others. Based on the fire type, the market is categorized into cooking, electrical equipment, flammable liquids, solids, flammable gasses, combustible metals, and others. Based on the agents, the market is divided into the aqueous film forming foams, potassium bicarbonate, mono ammonium phosphate, sodium bicarbonate, carbon dioxide, and others. Based on the application, the market is bifurcated into manufacturing and construction sites, warehouses, residential, commercial, factories and food processing plants, and others.
Global Fire Extinguishers Market: Growth Factors
The increased and compulsory implementation of the safety norms that are implemented by the government for the industries is the major factor that is driving the fire extinguishers market. The other factors that attribute to the growth of the market include a rise in the investments that are made by the industries for the fire safety and the technological developments that are made in the equipment that is used for the safety purposes trigger the demand of the market. The demand for the portable fire extinguishers is high owing to the increasing preferences from the customers due to their light weight nature. The increase in the infrastructural activities is also a factor that contributes to the market growth as the fire extinguishers are compulsory in the residential and commercial projects. The challenge that is being faced by the fire extinguisher market is the increased prices of the raw materials.
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Global Fire Extinguishers Market: Regional Analysis
Depending on the geographical regions, the global market for the fire extinguishers is diversified into the North America, Middle East and Africa, Asia Pacific, Eastern Europe, Latin America, and Western Europe. The regional market that is dominating the fire extinguishers market is Asia Pacific. Asia Pacific is followed by North America and Europe. The major factor that is contributing to the market growth is the significant development in the infrastructural activities in the emerging economies such as Japan, China, and India. The other factors that are contributing to the market growth in Asia Pacific region are the implementation of the safety protocols and the increasing support by the government in the form of fire protection investments is fuelling the demand of the market.
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Global Fire Extinguishers Market: Competitive Players
The key market players that are involved in the fire extinguishers market include BRK Electronics, Nationwide Fire Extinguishers, Amerex Corporation, Minimax GmbH & Co. KG, and others.
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