Technavio, a tech-focused market research firm, has published a new report on the global fire extinguishers market, which is expected to experience a slow but steady growth rate with a CAGR of more than 7% during the forecast period 2016-2020.
The latest report by Technavio covers the market outlook and growth prospects of the global fire extinguishers market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global fire extinguishers market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global fire extinguishers market for 2015 (market share %)
|
Europe |
35% |
|
APAC |
28% |
|
North America |
26% |
|
ROW |
11% |
Source: Technavio
Europe: largest revenue generating region for fire extinguishers
The global fire extinguishers market in Europe generated revenues of more than $1 billion in 2015 and is predicted to grow at a CAGR of around 7% by 2020. The prevalence of strict fire safety regulations in European countries will attribute to the increasing demand for fire extinguishers in this region. Europe also has the largest number of residential users for fire extinguishers compared with other regions helping it to maintain its market position. The growth of the market in this region is driven by the commercial and industrial user segments from Central and Eastern Europe.
“The fire safety norms in European countries is encouraging vendors to introduce superior quality products to increase sales and profitability. The residential sector is the largest revenue generator in this region. These factors will help the European region to dominate the market during the forecast period,” says Sarah Haque, a lead analyst at Technavio, specializing in research on automation.
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Fire extinguishers market in APAC
The global fire extinguishers market in APAC generated revenues of around $1 billion in 2015 and is predicted to grow at a CAGR of over 8% by 2020. The increasing investments in industrial and commercial spaces will make APAC the fastest growing region in the market. Countries like India, Singapore, Taiwan, and South Korea will contribute to the highest revenues in the APAC market. The growing opportunities for foreign investments and developments in the technology and healthcare sectors will increase the demand for fire extinguishers in this region.
Fire extinguishers market in North America
The global fire extinguishers market in North America generated revenues of around $1 billion in 2015 and is predicted to grow at a CAGR of almost 6% by 2020. The rising number of residential consumers undertaking fire safety measures will lead to the growth of the North American market during the forecast period. The vendors in the market are focusing on the introduction of smaller, more efficient, and lightweight fire extinguishers to increase their profitability. The presence of leading vendors will help in the evolution of the market in this region.
Fire extinguishers market in ROW
The global fire extinguishers market in ROW generated revenues of about $430 million in 2015 and is predicted to grow at a CAGR of over 6% by 2020. The increasing number of consumers from the industrial and commercial sectors will boost the growth of this region during the forecast period. Development activities in the Middle East and Latin American countries like Peru, Bolivia, Chile, and Colombia will fuel the demand for fire extinguishers in this region.
The top leading vendors operating in the global fire extinguishers market are:
- Amerex
- Tyco Fire Protection
- Minimax
- BRK
- Desautel
Other prominent vendors in the market include ANAF, Buckeye Fire Equipment, Britannia Fire, Douze It, Fire Fighter Industry, Kidde, NAFFCO, Safex, Strike First, and Supremex Equipment.
A more detailed analysis is available in the Technavio report titled, ‘Global Fire Extinguishers Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Industrial Fire Safety Equipment Market 2016-2020
- Global Armored Vehicles Automatic Fire Extinguishing Systems Market 2016-2020
- Global Wet Fire Sprinkler Systems Market 2016-2020
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