Global Fire Extinguisher Market Facts and Figures.
Market research carried out by Technavio has provided some very interesting facts and figures about the global fire extinguisher market – figures that may be surprising to some!
The research includes detailed information of the fire extinguisher market by type and predicts that the fire extinguisher market is expected to grow to over $5.14 billion in revenue by 2019.
Based on findings, the market is expected to grow steadily at a rate of 9% during the period 2015 – 2019. The growth is mainly due to safety authorities now demanding a certain number of fire extinguishers to be available in residential, commercial and industrial buildings and automobiles.
To add to the growth of the market there is anticipated growth of the light-weight fire extinguisher. Regulations (around the world) state that all passenger and commercial vehicles are to contain a fire extinguisher and the ultra-light-weight version is a more practical option for vehicles, especially motorbikes and cars.
During 2014 the dry chemical fire extinguisher dominated the market with a share of approximately 34% – the growth of this product is mainly due to its ability to deal with almost any fire. It is predicted that the dry chemical extinguisher will continue to dominate the market and grow at a rate of 12% until the end of 2019.
The research also reports that industrial users contributed to 50% of the market revenue in 2014. This segment includes manufacturing, research laboratories and other storage buildings. There is expected growth within the industrial segment over the coming years, so it is predicted that manufacturing, laboratories and testing facilities will drive the end user growth over the stated period. It has been found that industrial users tend to use carbon dioxide and dry chemical extinguishers over other options.
Intregued? Want to know more? Visit the Technavio website
