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Opportunities in the Fire Extinguishers Market in India

  • June 2014
  • 53 pages
  • Frost & Sullivan
Report ID: 2201101

Summary

Table of Contents

The Role of the Fire Extinguisher: A Product to Combat Fires or an Object of Neglect

Investments in fire and safety have long been neglected and perceived unnecessary in India due to a lack of return on investment in the market. Today, however, due to growing urbanization and increasing level of income, increased awareness of fire and safety is necessary in order to protect assets and safeguard lives. Accordingly, investments from various end users and asset owners are necessary. This private market insight discusses the fire extinguisher market in India and estimates the market size, opportunity areas, and drivers and restraints. The base year of this market research is 2013, and the forecast period runs from 2014 to 2018.

Key Market Insights

1 New approval standards in India for the fire extinguishers market mean new avenues for authorised license holders to increase market share and explore new opportunities. This has come in the wake of intermittent fire accidents claiming many lives.
2 The market has been driven by specifications that allowed many manufacturers to get away with low quality. Consequently, performance-based products on par with international standards are being introduced, but this means more investment in manufacturing and research and development (R&D), thereby raising pressure among local manufacturers to sustain profit and growth, sometimes leading to closure of business.
3 The replacement market will likely garner more demand in the next – years as fire extinguishers have a shelf life of years, and it is mandatory that they be replaced with those complying with the new standards.
4 The real estate sector is expected to grow at a rate of % in due to the revival policy from the new government, which is expected to ensure that projects are completed without any time or cost overages.
5 Most public sector units (PSUs), such as the Indian Oil and National Thermal Power Corporation (NTPC), have vast budgets—from to million per annum for total fire and safety products in new and expanded modernisation investments across India.
6 Many end users and asset owners do not consider building regulations for fire and safety due to low awareness and negligence, which affects the growth of this market. The prices of these products are higher, letting the customer install extinguishers in place of for every square feet.

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