Overview of the global commercial building fire extinguisher market
Market research analysts at Technavio predict that the global commercial building fire extinguisher market will grow steadily during the next four years and post a CAGR of more than 12% by 2020. This market research analysis identifies the increased level of infrastructure development as one of the primary growth factors for the building fire extinguisher market. To incorporate the rising levels of population, countries across the globe are experiencing rapid urbanization, which results in an exponential increase in the number of residential and commercial buildings. This will increase the demand for construction activity in the coming years and will subsequently drive the demand for building fire extinguishers due to the increased awareness regarding occupational health safety and fire safety.
In terms of geography, Europe will account for the major revenue shares and dominate the market throughout the forecast period. This is mainly attributed to the implementation of stringent fire safety norms in several countries across the region. The European Union introduced regulations in 2011 that mandate every new building construction to undergo the fire performance test known as harmonized classification system for Reaction to Fire. The increase in commercial real estate activities in the region, especially in the countries of Central and Eastern Europe, will fuel the growth of the fire extinguisher market in the coming years.
Competitive landscape and key vendors
The market is characterized by the presence of several established fire extinguisher manufacturers who offer portable and wheeled fire extinguishers and a number of other fire prevention systems. Since all vendors compete to gain a significant revenue share, the market’s competitive environment is intense. With minimal opportunities for product differentiation, vendors have the need to develop advanced products by adopting new technologies. As a result, the market players will start increasing their R&D investments to develop innovative products, which will help them have a competitive edge over their competitors.
The leading vendors in the market are -
- Amerex
- BRK
- Desautel
- Minimax
- Tyco
The other prominent vendors in the market are Britannia Fire, Buckeye, Kidde, Safex, and Strike First.
Segmentation by product type and analysis of the commercial building fire extinguisher market
- Dry chemical fire extinguishers
- Foam fire extinguishers
- Carbon dioxide fire extinguishers
Due to their wide range of application across various industries, the dry chemical fire extinguishers segment accounted for the major shares and dominated the commercial building fire extinguisher market during 2015. Dry chemical agents help reduce the fire by forming a barrier between fuel and oxygen. These extinguishers can be used on class A, B, C, and E type of fires and are known as multipurpose fire extinguishers.
Segmentation by end-user and analysis of the commercial building fire extinguisher market
- Hospitality
- Healthcare
- Retail
- Office buildings
- Government buildings
This market study estimates that in terms of end-users, the hospitality sector was the major revenue contributor to the market during 2015. The need to comply with the health and safety regulations will drive the incorporation of fire prevention systems by the hotel industry during the next four years. Analysts predict that though fire sprinkler systems are increasingly being adopted by hotel owners as a part of building automation due to which the industry will continue to be the major revenue contributor to the market throughout the forecast period.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global commercial building fire extinguisher market?
- What are the key market trends impacting the growth of the global commercial building fire extinguisher market?
- What are the challenges to market growth?
- Who are the key vendors in the global commercial building fire extinguisher market?
- What are the market opportunities and threats faced by the vendors in the global commercial building fire extinguisher market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global commercial building fire extinguisher market?
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