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Auto Fire Extinguisher Market Segmented By product type such as Dry chemical, Foam, Carbon Dioxide, Others with vehicle type such as Passenger Car, Heavy Commercial Vehicle (HCV), Light Commercial Vehicles (LCV)
An auto fire extinguisher is an active fire safety equipment used in emergency situations. Auto fire extinguishers are a vital component in vehicles. These extinguishers can be mounted using various method. However, the most common area where an auto fire extinguisher is mounted is the bottom front of the driver’s seat.
Although it’s not the law to carry these extinguishers, however, it is highly recommended to install these for fire protection as in an event of a serious incident, a fire extinguisher can be a life saving device. Different types of extinguishing agents, such as dry chemicals, carbon dioxide, foam and others are used for extinguishing different type of fires, such as Class A, Class B, Class C and Class D. The most preferred fire extinguisher, by type, in the current market scenario is the dry chemical auto fire extinguisher.
The recovery of the automotive industry over the past couple of years, backed by rapid economic growth, has fueled sales of passenger cars. Further, due to expanding public transport infrastructure, construction activity and goods transportation, LCV and HCV demand is expected to increase significantly in years to come. Hence, increasing vehicle parc coupled with increased safety concerns will propel the demand for fire extinguishers in the market.
Owing to lack of rules and regulations pertaining to installation of auto fire extinguishers, most of the end users are reluctant to install fire extinguisher.
However, in the recent times, owing to increasing fire hazards and safety concerns, governments across various countries are implementing, regulating and mandating the installation of fire extinguishers in vehicles. Stringent regulations over installation of fire extinguishers are expected to significantly augment the demand in the auto fire extinguisher market during the forecast period.
Technological developments and increasing competition between various auto fire extinguisher manufacturers have led to the introduction of many compact and lightweight fire extinguishers in the market. Moreover, the increasing global trend of reducing vehicle weight and improving fuel-economy as a way to combat global warming will drive the demand for lightweight auto fire extinguisher in the market.
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North America is expected to dominate the global auto fire extinguisher market, the region is expected to witness robust growth over the forecast period. Europe is expected to witness healthy growth owing to increasing awareness about fire safety and stringent government regulations covering the mandatory installation of auto fire extinguishers.
Asia pacific is expected to witness robust growth owing to the large automotive production base located in countries, such as India, China, Indonesia, Thailand and other Asian countries. Positive economic outlook, favorable political scenario and increasing foreign direct investment in Latin America is driving investments in the automotive industry in the region, which in turn, will induce the growth of the fire extinguisher market in the region. Middle East & Africa is expected to witness relatively moderate growth as compared to other regions.
Examples of some of the market participants identified across the value chain of the global market are:
The research report presents a comprehensive assessment of the Auto Fire Extinguisher market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Auto Fire Extinguisher market report also contains projections using a suitable set of assumptions and methodologies. The Auto Fire Extinguisher market research report provides analysis and information according to Auto Fire Extinguisher market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.