Global Construction Boom Propelling Sales of Fire Extinguishers.docx

1. Global Construction Boom Propelling Sales of Fire Extinguishers 1 ©P&SIntelligence.Allrightsreserved

2. Governments across the world and international regulatory bodies are drafting stringent fire safety norms for residential, commercial, and manufacturing units to ensure the safety of people and avoid asset loss. For instance, the National Fire Protection Association (NFPA) publishes over 300 consensus codes and standards, such as standards for portable fire extinguishers and standards on hybrid (water and inert gas) fire extinguishing systems, to minimize the possibility and effects of fire and other risks. To comply with such regulations, fire extinguishers are being deployed in large numbers. Moreover, the increasing construction activities in developing countries will help the fire extinguishers market advance at a CAGR of 6.2% during 2018–2023. According to P&S Intelligence, the market was valued at $4,487.0 million in 2017, and it is projected to generate $6,452.3 million revenue by 2023. The construction industry in India, Saudi Arabia, Indonesia, and China and developed countries, including Japan and the U.S., is witnessing the influx of hefty investments, owing to which a substantial surge in the number of industrial plants, commercial centers, and smart cities is being observed. Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/fire- extinguishers-market/report-sample Commercial centers, housing units, and manufacturing plants deploy dry- chemical and dry-powder, water-based, foam-based, carbon dioxide, and clean- agent fire extinguishers. In the recent past, dry-chemical and dry-powder fire extinguishers were adopted in the highest numbers, a situation that will remain the same in the coming years. These variants are widely used in industrial settings, such as manufacturing plants and warehouses, because the extinguishing agent in them is dry, owing to which they pose minimum damage to the electrical appliances at the hazard location. These fire extinguishers are available in the portable and trolley-mounted variants. At present, portable fire extinguishers are preferred because they are easy to move, handle, and operate in emergencies. The industrial sector is the largest user of such products owing to the high chances of fires at manufacturing sites, especially those that handle chemicals and petroleum products. Therefore, the increasing number of manufacturing facilities in developing countries, such as India, Brazil, and China, will propel the installation of various types of fire extinguishers in the upcoming years. The key manufacturers of such products are Amerex Corporation, Feuerschutz Jockel GmbH & Co. KG, First Alert Inc., Desautel, Minimax GmbH & Co. KG, and United Technologies Corporation. At present, these companies are focusing on developing new products, such as sound-based fire extinguishers, to offer improved solutions to their clientele. The acoustic waves produced by these fire extinguishers increase the air velocity, which eventually leads to the reduction in the boundary layer of the burning substance. Globally, North America dominated the fire extinguishers market in the

3. preceding years due to the large-scale construction of commercial, education, and residential infrastructure in the U.S. Additionally, the increasing modernization of existing commercial projects and surging fire safety concerns are fueling the adoption of these devices in the region. Whereas, the Asia-Pacific (APAC) region is expected to install them at the highest rate in the foreseeable future owing to the development of green buildings, including residential and commercial buildings, and smart cities. Browse full report at: https://www.psmarketresearch.com/market- analysis/fire-extinguishers-market Thus, the toughening fire safety regulations and expanding construction sector will boost the adoption of fire extinguishers across the world. FIRE EXTINGUISHERS MARKET FIRE EXTINGUISHERS MARKET By Product Type – Dry Chemical and Dry Powder, Carbon Dioxide, Foam Based, Water Based, and Clean Agent By Portability – Portable and Trolley Mounted By End User –Industrial, Commercial, Residential, and Transport By Region – North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA) © P&S Intelligence. All rights reserved • • • • 3

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