Stringent Fire Safety Regulations Drives Demand for Fire Extinguishers, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Fire Extinguishers markets. Global market for Fire Extinguishers is forecast to reach US$4.3 billion by 2020, driven by stringent fire safety regulations, recovering new construction projects worldwide, and innovations in portable fire extinguishers.

Fire Extinguishers: A Global Strategic Business Report

Follow us on LinkedIn – Defined as a fire protection device designed to douse small fires, fire extinguishers are poised to witness strong growth led by growing awareness over the importance of fire accident prevention. Federal level initiatives undertaken to spread fire safety awareness is a factor encouraging voluntarism in fire-prevention. A fire extinguisher comprises a handheld cylinder pressure container filled with water, gas, foam or other fire antagonistic chemical agents to extinguish fire. Rising incidents of fire accidents and the ensuing economic and social loss stemming from property damage and loss of lives, is driving the adoption of fire extinguishers in commercial and residential buildings. Recovering global GDP, resurgence in remodelling and renovation activity in developed economies, steady rise in new constructions in emerging markets, and stricter law enforcements are driving growth in the market. The growing focus on preventing business interruption and the resulting losses due to fire is spurring demand for both passive and active fire suppression equipment in the industrial sector.

R&D efforts geared towards developing innovative products are poised to fuel future growth in the market. Technology innovations expected to benefit the market include development of fine water mist (FWM) portable fire extinguishers, recyclable thermoplastic blow molded fire extinguishers, development of novel aerosol fire suppression agents, and growing popularity of Hybrid Fire Extinguisher (HFE) technology. Growing concerns over the environment is spurring demand for eco-friendly Halon-free fire extinguishers. Although the construction industry remains the primary end-use sector for fire extinguishers, strong growth is forecast to come from expanding applications in automobiles, military vehicles, and aircrafts. Growing emphasis on safety is fuelling demand for automotive fire extinguishers and poised to benefit against this backdrop are small, portable and lightweight fire protection systems. The growing base of military vehicles, especially army ground combat vehicles, is forecast to benefit demand for fast-opening hand-held fire extinguishers (HFE) to safeguard against combat-induced fires. The importance of tactical vehicle fire protection is driving demand for Automatic Fire Extinguishers in the military end-use sector for automatic identification of fire and unmanned dispersion of chemical solution. Stringent implementation of air force fire extinguisher regulations is also expected to drive market opportunities for fire extinguishers in the commercial and military aerospace sector.

As stated by the new market research report on Fire Extinguishers, Europe represents the largest regional market worldwide. Developing markets, such as, Asia-Pacific, Latin America, Middle Eastern and Eastern European are forecast to fuel future growth in the market led by the huge untapped potential offered by the low market penetration of fire extinguishers and relatively strong growth in construction activity. Asia-Pacific is forecast to emerge as the fastest growing regional market with a CAGR of 5.2% over the analysis period supported by rapid urbanization and strong investments in commercial real estate.

Key players covered in the report include Amerex Corporation, BRK Brands Inc., Chubb Fire & Security Ltd., Desautel, Jewel Saffire Products Ltd., Minimax GmbH & Co. KG, Nationwide Fire Extinguishers, Protec Fire Detection Plc, Siemens Building Technologies Inc., Tyco, and UTC Fire & Security, among others.

The research report titled “Fire Extinguishers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., analyzes a wealth of data including technological trends, growth drivers and major challenges shaping the global market. The report provides market estimates and projections for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East and Latin America.

For more details about this comprehensive market research report, please visit –http://www.strategyr.com/Fire_Extinguishers_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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