Dominican Republic: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in the Dominican Republic

In 2022, the Dominican fire extinguisher market increased by 14% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +68.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Fire Extinguisher Exports

Exports from the Dominican Republic

In 2022, the amount of fire extinguishers exported from the Dominican Republic soared to X units, jumping by 19% against the previous year. In general, exports, however, showed a significant contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 203%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, fire extinguisher exports dropped notably to $X in 2022. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 200% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Turks and Caicos Islands (X units) was the main destination for fire extinguisher exports from the Dominican Republic, with a 52% share of total exports. Moreover, fire extinguisher exports to Turks and Caicos Islands exceeded the volume sent to the second major destination, Saint Lucia (X units), twofold. The third position in this ranking was held by Haiti (X units), with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turks and Caicos Islands amounted to +152.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saint Lucia (0.0% per year) and Haiti (-27.5% per year).

In value terms, Haiti ($X) emerged as the key foreign market for fire extinguishers exports from the Dominican Republic, comprising 66% of total exports. The second position in the ranking was taken by Turks and Caicos Islands ($X), with a 32% share of total exports. It was followed by the United States, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value to Haiti stood at -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turks and Caicos Islands (+116.2% per year) and the United States (-32.1% per year).

Export Prices by Country

The average fire extinguisher export price stood at $X per unit in 2022, reducing by -62% against the previous year. Over the period under review, the export price, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 an increase of 644% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per unit), while the average price for exports to Saint Lucia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fire Extinguisher Imports

Imports into the Dominican Republic

In 2022, overseas purchases of fire extinguishers increased by 47% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2021 with an increase of 59%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, fire extinguisher imports rose markedly to $X in 2022. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 62%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Spain (X units) were the main suppliers of fire extinguisher imports to the Dominican Republic.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +16.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of fire extinguishers to the Dominican Republic, comprising 90% of total imports. The second position in the ranking was held by China ($X), with a 36% share of total imports. It was followed by Spain, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.1% per year) and Spain (-0.9% per year).

Import Prices by Country

The average fire extinguisher import price stood at $X per unit in 2022, which is down by -27.5% against the previous year. Overall, the import price, however, showed a strong increase. The most prominent rate of growth was recorded in 2020 an increase of 53% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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