Between 2013 and 2023, the sold production of fire extinguishers in Spain, expressed in Million Euros, showed significant fluctuations. In 2013, the value was €57.172 million, declining to €36.621 million in 2016, and then bouncing back to €54.607 million in 2021. By 2023, the value stood at €47.366 million, showing a moderate increase of 5.08% compared to the previous year. The compound annual growth rate (CAGR) over the last five years was -1.66%, indicating a slight overall decline. The data from 2013 to 2023 exhibit periods of sharp declines and significant recovery spikes, reflecting potential market volatility and sensitivity to broader economic conditions.
For future trends, the forecast suggests a gradual decline in the production value of fire extinguishers over the next five years, with a CAGR of -0.89%. By 2028, production is expected to decrease to €44.789 million. This trend points to a persistent downward adjustment in the market, with an overall forecasted growth rate over the next five years of -4.38%.
Future trends to watch for include:
- Technological advancements in fire safety that could influence production volumes.
- Regulatory changes impacting manufacturing standards and market demand.
- Economic factors and their influence on construction and industrial activity, which are primary users of fire extinguishers.
