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Automatic Fire Ball Extinguisher Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global automatic fire ball extinguisher products market was valued at USD 1.2 billion in 2021 and is expected to grow at a CAGR of 6.3% from 2022 to 2029. Automatic fire ball extinguisher products provide an effective and efficient solution to tackle fire and thus, are gaining traction in the market. They are designed to provide a high degree of protection to personnel, property, and equipment from potential fire hazards.
The adoption of automatic fire ball extinguisher products is driven by their superior performance, as compared to traditional firefighting systems. They are easy to install and operate, and are also safe to use in enclosed areas. Moreover, the growing demand for automatic fire ball extinguisher products in the industrial sector is another factor driving the market. For instance, in November 2020, a leading fire protection equipment manufacturer, Hangzhou Fire-Wolf Co. Ltd., launched an automatic fire ball extinguisher product, which can be operated by a single person.
Furthermore, the growing demand for automatic fire ball extinguisher products in the residential sector is also fuelling market growth. For instance, in December 2021, a leading manufacturer of fire protection equipment, Fire Wolf Co. Ltd., launched a new range of automatic fire ball extinguisher products, which are designed for residential use. The product range includes fire balls, fire extinguishers, automatic fire sprinklers, and smoke detectors.
Moreover, the rising awareness about fire safety and the increasing adoption of advanced technologies, such as artificial intelligence and machine learning, are also contributing to the growth of the market. For instance, in August 2021, a leading manufacturer of fire protection equipment, Hangzhou Fire-Wolf Co. Ltd., launched an automatic fire ball extinguisher product equipped with an artificial intelligence-based fire detection system that can detect and respond to fire in less than a second.
In addition, the increasing government initiatives and regulations to ensure fire safety is also promoting the growth of the market. Various governmental bodies, such as the National Fire Prevention Association, have laid down stringent rules and regulations pertaining to the use of fire protection equipment in commercial and residential buildings. Furthermore, the rising investments in research and development activities to improve the performance of automatic fire ball extinguisher products is expected to fuel the demand for these products in the coming years.
Product Insights
The automatic fire ball extinguisher segment dominated the market in 2020 and held a share of around 40.9%. This is attributed to the superior fire-fighting abilities and low maintenance cost associated with the product. Automatic fire ball extinguishers have the ability to detect fire and directly reach the source of the fire to extinguish it. This makes them a safer and more reliable option for fire protection in comparison to conventional extinguishers. In addition, the product is recommended for the protection of large and enclosed areas and is ideal for the protection of flammable liquids, gases, and electrical equipment.
The semi-automatic fire ball extinguisher segment is expected to witness a CAGR of 8.3% over the forecast period. Semi-automatic fire ball extinguishers are easy to use and require minimal installation. Furthermore, they are available in a variety of sizes and are suitable for use in residential and commercial buildings. They are also suitable for the protection of electrical and electronic equipment, since they do not require electric power to operate. The growing awareness regarding the use of automatic fire ball extinguishers is likely to drive the segment’s growth in the coming years.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the major share of the automatic fire ball extinguisher products market in 2022. The growth of the segment is mainly driven by the availability of a wide range of automatic fire ball extinguisher products in these establishments. Supermarkets & hypermarkets are the prime source of convenience for customers due to their presence in the neighborhood and the availability of a variety of products. According to a survey conducted by the Retail Association of India in 2021, more than 80% of the respondents preferred to shop from supermarkets and hypermarkets for automatic fire ball extinguisher products.
The online segment is anticipated to expand at the highest CAGR of 13.2% over the forecast period. The increasing penetration of the internet and smartphones has resulted in the growth of the e-commerce industry. Companies are focusing on launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in June 2021, Amazon India launched an online store for automatic fire ball extinguishers. The online store provides a wide range of automatic fire ball extinguishers from different brands at competitive prices. In addition, the website provides product reviews, ratings, and other helpful information to guide the customers in making the right purchasing decisions.
Type Insights
The automatic fire ball extinguisher segment accounted for the highest revenue share of 58.2% in the year 2022. Automatic fire ball extinguishers are designed to detect and extinguish fires without manual intervention. The ability of automatic fire ball extinguishers to be used in places that are hard to access makes them a preferred choice for extinguishing small fires. Furthermore, the increasing demand for automatic fire ball extinguishers in hazardous areas such as oil & gas, chemical and petrochemical plants has increased the demand for these products.
The manual fire ball extinguisher segment is anticipated to expand at the highest CAGR of 8.7% over the forecast period. The increasing demand for manual fire ball extinguishers in commercial, industrial, and residential applications is fueling the growth of this segment. Furthermore, the manual fire ball extinguishers are easy to use and provide an effective firefighting mechanism, which is boosting the demand for these products. Additionally, the cost-effectiveness of manual fire ball extinguishers is driving the market growth.
Regional Insights
Asia Pacific is expected to dominate the market owing to the increasing demand for fire safety products in the region. A rise in industrial and residential development activities has increased the need for fire safety equipment in the region. Furthermore, increasing government initiatives to promote the use of automatic fire ball extinguishers is expected to boost the market growth. For instance, the Government of India has mandated the use of fire safety equipment in places such as offices, educational institutions, and other work spaces.
North America is expected to witness a significant growth in the coming years owing to increasing investments in fire safety products. Companies are focusing on developing products to meet the needs of customers in the region. For instance, in April 2021, FireAde launched a one-size-fits-all fire ball extinguisher for residential and commercial applications in the region. Furthermore, stringent regulations for fire safety equipment in the region are expected to fuel the growth of the market in North America.
Financial Projections
In this part of the automatic fire ball extinguisher product business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your automatic fire ball extinguisher product. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for an automatic fire ball extinguisher product business comes from sales of the products, as well as installation and maintenance services. You should also consider the possibility of offering warranties and other additional services, as well as discounts for bulk orders and special orders.
Projecting Expenses
In this section, all the regular expenses related to keeping the automatic fire ball extinguisher product business running will be described. The list of operating expenses includes wages, inventory, shipping and handling, utilities, advertising, and other miscellaneous expenses. Additionally, you should consider the costs of research and development, as well as the cost of any patent or trademark applications.
Key companies & market share insights
Some of the key companies operating in the automatic fire ball extinguisher market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In March 2022, Fireball India launched the Fireball 360 automatic fire extinguisher, a product that can be used to extinguish fires quickly and with minimal effort.
– In August 2022, Firepro Systems Pvt. Ltd. launched the Fireball Pro, an automatic fire extinguisher that is designed to detect and extinguish fires quickly and safely.
– In November 2022, Fire-X India launched the Fire-X Fireball, an automated fire extinguisher that can sense and extinguish fires within seconds.
Some of the prominent players in the automatic fire ball extinguisher market include:
– Fireball India
– Firepro Systems Pvt. Ltd.
– Fire-X India
– Amerex Corporation
– Kidde Fire Fighting
– Ansul, Inc.
– Firetrace International, LLC
– Firex International
– Halon Fire Protection
– Tyco Fire Protection Products
Global Automatic Fire Ball Extinguisher Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global automatic fire ball extinguisher products market based on product type, end user, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Wall Mounted
– Stand Alone
– Others
2. End User Outlook (Revenue, USD Million, 2017 – 2030)
– Commercial
– Industrial
– Household
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Automatic Fire Ball Extinguisher Market?
[A]: The global automatic fire ball extinguisher market is driven by the increasing awareness of fire safety, stringent government regulations, and the rising adoption of automatic fire ball extinguishers in residential, commercial, and industrial buildings. Additionally, increased technological advancements in automatic fire ball extinguishers, such as remote monitoring and voice alerts, are expected to drive market growth.
[Q]: Who are the Key Players in the Automatic Fire Ball Extinguisher Market?
[A]: Key players operating in the global automatic fire ball extinguisher market include Kidde Fire Systems, Tyco International Ltd., Amerex Corporation, Ansul Incorporated, Firetrace International LLC, Hangzhou Lanyu Firefighting Equipment Co., Ltd., and Minimax GmbH & Co. KG.
[Q]: What are the Key Regions that Offer the Largest Opportunity for Sales of Automatic Fire Ball Extinguishers?
[A]: Asia Pacific is expected to offer the largest opportunity for sales of automatic fire ball extinguishers due to the presence of a large number of residential, commercial, and industrial buildings in the region. Additionally, the increasing awareness of fire safety in the region is expected to drive the growth of the market in the region.
[Q]: What are the factors restraining the automatic fire ball extinguisher market?
[A]: High installation and maintenance costs are expected to restrain the growth of the market. Additionally, the lack of awareness in developing countries may also restrain the growth of the market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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