Eastern Asia: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in Eastern Asia

The East Asian fire extinguisher market reduced to $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Fire Extinguisher Production in Eastern Asia

In value terms, fire extinguisher production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 39% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Fire Extinguisher Exports

Exports in Eastern Asia

Fire extinguisher exports surged to X units in 2022, jumping by 33% compared with the year before. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.3% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fire extinguisher exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 18% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China prevails in exports structure, amounting to X units, which was near 97% of total exports in 2022. South Korea (X units) took a little share of total exports.

China was also the fastest-growing in terms of the fire extinguishers exports, with a CAGR of +6.6% from 2012 to 2022. South Korea (-4.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +5.4 percentage points.

In value terms, China ($X) remains the largest fire extinguisher supplier in Eastern Asia, comprising 92% of total exports. The second position in the ranking was held by South Korea ($X), with a 6.6% share of total exports.

In China, fire extinguisher exports increased at an average annual rate of +5.1% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, which is down by -17.2% against the previous year. Overall, the export price recorded a mild decrease. The pace of growth appeared the most rapid in 2021 when the export price increased by 5.5%. As a result, the export price reached the peak level of $X per unit, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.0%).

Fire Extinguisher Imports

Imports in Eastern Asia

In 2022, the amount of fire extinguishers imported in Eastern Asia contracted to X units, which is down by -4.7% on the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 21% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, fire extinguisher imports expanded to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 23% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X units) and Japan (X units) represented roughly 68% of total imports in 2022. Taiwan (Chinese) (X units) held the next position in the ranking, followed by Hong Kong SAR (X units). All these countries together took near 29% share of total imports. China (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +8.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fire extinguisher importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 82% of total imports. Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together comprising a further 17%.

Taiwan (Chinese), with a CAGR of +4.0%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, surging by 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2019 an increase of 18%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+32.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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