Fire Safety Innovations Receive a Boost Supported by Recovering Construction Activity & Stringent Regulations
Technology/product innovations supported largely by the recovery in construction activity, implementation of stringent regulations and policies and the resulting programs and strategies in place for ensuring quick assessment and response to emergency events are poised to drive the global market for fire extinguishers to exceed US$8.3 billion by 2024 . A fire extinguisher comprises a handheld pressure cylinder filled with water, gas, foam or other fire antagonistic chemical agents to extinguish fire. As long as structures exist, risk of fire would always be there, to mitigate which, fire extinguishers would remain an inescapable need the world over. As a result, the fire extinguisher industry would continue to play an important role in the developed world. Market growth is led by change in standard building codes and mandating necessary deployment of fire extinguishers coupled with strong construction sector in developing markets such as Asia-Pacific, Latin America, Middle East an...