Market Research Future (MRFR) has published a cooked research report on the “Global Automatic Fire Ball Extinguisher Market” that contains information from 2018 to 2032. The automatic fire ball extinguisher market is estimated to register a CAGR of 3.80% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global automatic fire ball extinguisher market - Firetech Global; L. R. INDUSTRIES; Auto Fireball; Elide Fire Ball Pro Co., Ltd.; DANSA group Germany; Universal Fire Protection; Fireball RSA; Fire and Safety Systems LTD; and HelloMedicals.
Automatic Fire Ball Extinguisher Market Highlights
The global automatic fire ball extinguisher market is accounted to register a CAGR of 3.80% during the forecast period and is estimated to reach USD 4.336 billion by 2032.
The demand for automatic fireball extinguishers is growing globally because to the rising incidence of fire fatalities in residential and commercial buildings. The installation of extinguishers is subject to stringent government laws and regulations, which is expected to boost market expansion over the coming years. Additionally, it is anticipated that throughout the course of the projection period, demand for automatic fireball extinguishers would increase across a variety of applications, including the construction industry, automobiles, military trucks, and airplanes.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of automatic fireball extinguishers Trends
Segment Analysis
The global automatic fire ball extinguisher market has been segmented based agent, fire type, and application.
Based on agent, the global automatic fire ball extinguisher market has been segmented into Dry Powder, Carbon Dioxide, Foam and Others (Water Based, Metal Based, Clean Agents). The dry powder segment was expected to hold the largest market share in 2022. Multipurpose applications in several end-use sectors are responsible for the growth. There is little harm to electrical appliances at the site of the hazard because the extinguishing chemical in these items is dry. The majority of places where dry-chemical fire extinguishers are used are industrial ones, such factories and warehouses.
On the basis of fire type, the market is segmented into Class A, Class B, Class C, Class D and Class K. The class C segment was attributed to holding the largest market share in 2022. Class C fireball extinguishers are in high demand due to the possibility of energized electrical components, chemical, or flammable liquid fires occurring in commercial or residential structures, which is boosting market growth. Power acts as a constant source of fire ignition.
Based on application, the global automatic fire ball extinguisher market has been segmented into Residential and Commercial. The commercial segment was expected to hold the largest market share in 2022. Automatic fire ball extinguishers can be installed in commercial buildings including offices, shops, hotels, and restaurants. The tools minimize property damage and guarantee occupant safety by responding quickly to fires and suppressing them effectively.
Regional Analysis
The global automatic fire ball extinguisher market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe automatic fire ball extinguisher market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The automatic fire ball extinguisher market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World automatic fire ball extinguisher market comprises of Middle East, Africa, and Latin America.
The largest market share for automatic fire ball extinguisher was maintained by the North American regional sector. The primary factors propelling market expansion in the country are the rise in construction activity and the strict enforcement of fire regulations by agencies like the National Fire Protection Association (NFPA), which publishes codes and standards intended to lower the likelihood and effects of fire and other risks.
Moreover, the Europe market has been persistently growing over the forecast period. The public's rising acceptance of fire ball extinguishers is mostly due to government fire safety regulations. The growing demand for smart home automation systems and smart buildings, which offer the highest levels of safety and security, is also projected to promote the use of automatic fire ball extinguishers.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to growing urbanization, infrastructure development, and fire safety awareness. Furthermore, the desire for massive infrastructure in developing countries like China and India is a major factor in the region's growth.
Furthermore, the rest of the world's automatic fire ball extinguisher market is divided into the Middle East, Africa, and Latin America. The key factors influencing the market in the area are new government initiatives, updated fire and life safety regulations, and growing energy costs. Additionally, the growing hotel industry is increasing demand for fireball extinguishers throughout the rest of the world.
Key Findings of the Study
- The global automatic fire ball extinguisher market is expected to reach USD 4.336 billion by 2032, at a CAGR of 3.80% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to expanding urbanization, the improvement of infrastructure, and increased fire safety knowledge.
- Based on application, the commercial segment was attributed to holding the largest market in 2022, with an approximate market share of 60%.
- Firetech Global; L. R. INDUSTRIES; Auto Fireball; Elide Fire Ball Pro Co., Ltd.; DANSA group Germany; Universal Fire Protection; Fireball RSA; Fire and Safety Systems LTD; and HelloMedicals
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Companies Covered | 15 |
Pages | 128 |
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