Project report for Fire Extinguisher

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Introduction

Fire extinguisher manufacturers in India will experience increasing demand from various end-use sectors. The rising awareness and enforcement of regulations in the region has resulted in a high demand for fire safety systems and equipment in workplaces, which is expected to support the growth of fire extinguisher market in India. The demand for fire extinguishers is likely to continue growing in the future on the back of infrastructure expansion and stringent regulations for the construction and maintenance of residential and commercial properties.Increasing construction activities for the development of commercial centers, new industrials plants and launch of new housing projects and implementation of strict norms related to fire safety is positively augmenting the growth of the global fire extinguishers market.

A fire extinguisher is an active fire protection device used to extinguish or control small fires, often in emergency situations. It is not intended for use on an out-of-control fire, such as one which has reached the ceiling, endangers the user, or otherwise requires the expertise of a fire brigade. Typically, a fire extinguisher consists of a hand-held cylindrical pressure vessel containing an agent that can be discharged to extinguish a fire. Fire extinguishers manufactured with non-cylindrical pressure vessels also exist but are less common. There are two main types of fire extinguishers: stored-pressure and cartridge-operated. In stored pressure units, the expellant is stored in the same chamber as the firefighting agent itself. Depending on the agent used, different propellants are used.

Market potential & Strategy

The global fire extinguisher market reached a value of INR 367.350 Crores in 2020. The India market for fire extinguishers is estimated to rise at a CAGR of 7.4% during the forecast period. Commercial offices are expected to produce significant profits for the market based on end-user sector. The rising awareness and enforcement of regulations in the region has resulted in a high demand for fire safety systems and equipment in workplaces, which is expected to support the growth of fire extinguisher market in India. The demand for fire extinguishers is likely to continue growing in the future on the back of infrastructure expansion and stringent regulations for the construction and maintenance of residential and commercial properties in this region. With the tourism and recreation sector taking a jump in recent years, the increased flow of capital and related infrastructure will support the growth of the region’s fire extinguishers market. The demand for fire extinguishers is further supported by rising industrialization levels, coupled with the construction of commercial spaces, particularly in developing regions. Moreover, the market is influenced by insurance agencies, which make it mandatory to install a fire extinguisher in insured buildings. Apart from this, the leading players in the industry are introducing eco-friendly, gas- or powder-based fire extinguishers that do not release toxic gases. In addition, eco-friendly, powder-based, or gas fire-extinguishers are being developed by industry leaders, which do not emit toxic gasses. These factors are expected to influence the fire extinguisher market positively.

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