Both export demand and a booming construction sector have led to industry growth.
New York, NY (PRWEB) July 17, 2014
Demand for the Fire Extinguisher Manufacturing industry increased during the past five years, as the rekindling of the US housing, construction and industrial sectors helped fuel industry growth. According to IBISWorld industry analyst Stephen Morea, “Regulations mandating the placement and accessibility of portable, handheld fire extinguishers in workplaces, schools, factories, residential buildings and other establishments provide a baseline of demand for industry products.” As a result, the construction of new private, public, commercial and residential structures generally translates into higher industry sales. Furthermore, export demand has supported the industry as construction and industrial activity in foreign economies bolstered purchases of US-made industry products. Finally, an increase in industrial activity during the past five years has boosted demand for fire extinguishers designed for factories, and extinguishers that are commonly found on freight vehicles, such as ships and trains. Consequently, revenue for the Fire Extinguisher Manufacturing industry is expected to increase in the five years to 2014.
Portable fire extinguishers, which this industry produces, are intended for use as a first line of defense to cope with small fires. According to the National Fire Protection Association (NFPA), when used properly, fire extinguishers can save lives and property by extinguishing small fires or by controlling a fire until additional help arrives. As a result, the NFPA has developed standards that apply to the selection, installation, inspection, maintenance and testing of portable extinguishing equipment. Based on these and other standards, the Occupational Safety and Health Administration (OSHA) places requirements on employers regarding the proper placement and maintenance of fire-extinguishing equipment. Regulations also exist at the regional level and are administered by state and local governments.
“Industry revenue will improve during the five years to 2019,” says Morea. Continued expansion in the US construction sector will help drive industry demand. In addition, new and increasing regulations mandating the presence of fire equipment, coupled with rising export demand, will also continue to support sales of industry products.
For more information, visit IBISWorld’s Fire Extinguisher Manufacturing in the US industry report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
IBISWorld industry Report Key Topics
The Fire Extinguisher Manufacturing industry manufactures hand-portable fire extinguishers used to control small fires, often in emergency situations. The industry excludes professional fire equipment used by firefighters.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.