Latin America and the Caribbean: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in Latin America and the Caribbean

The Latin American fire extinguisher market expanded significantly to $X in 2022, with an increase of 14% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Fire Extinguisher Production in Latin America and the Caribbean

In value terms, fire extinguisher production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 16%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Fire Extinguisher Exports

Exports in Latin America and the Caribbean

In 2022, fire extinguisher exports in Latin America and the Caribbean shrank sharply to X units, reducing by -56.9% against 2021. Over the period under review, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 16%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, fire extinguisher exports declined to $X in 2022. The total export value increased at an average annual rate of +2.5% 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 2018 with an increase of 37% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

Mexico prevails in exports structure, accounting for X units, which was approx. 93% of total exports in 2022. It was distantly followed by Brazil (X units), mixing up a 5.6% share of total exports.

Mexico was also the fastest-growing in terms of the fire extinguishers exports, with a CAGR of -5.7% from 2012 to 2022. Brazil (-12.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by +6.4 percentage points.

In value terms, Mexico ($X) remains the largest fire extinguisher supplier in Latin America and the Caribbean, comprising 98% of total exports. The second position in the ranking was held by Brazil ($X), with a 1.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +3.2%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, increasing by 114% against the previous year. Overall, the export price enjoyed a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Mexico ($X per unit), while Brazil totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.4%).

Fire Extinguisher Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of fire extinguishers increased by 16% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 24%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, fire extinguisher imports stood at $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 24% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X units) was the main importer of fire extinguishers, committing 37% of total imports. Mexico (X units) ranks second in terms of the total imports with an 11% share, followed by Peru (8%), Ecuador (6.8%), Brazil (5.3%) and Colombia (5.2%). Uruguay (X units), Cuba (X units), Costa Rica (X units), Guatemala (X units), El Salvador (X units) and the Dominican Republic (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fire extinguisher imports into Chile stood at +13.4%. At the same time, Brazil (+46.4%), Cuba (+19.4%), Colombia (+9.6%), El Salvador (+8.7%), Guatemala (+6.5%), Uruguay (+5.1%) and Costa Rica (+5.1%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +46.4% from 2012-2022. By contrast, the Dominican Republic (-2.5%), Ecuador (-2.8%), Peru (-5.4%) and Mexico (-6.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Brazil, Colombia and Cuba increased by +25, +5.1, +2.8 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Chile ($X) and Peru ($X) were the countries with the highest levels of imports in 2022, together comprising 58% of total imports. Brazil, Colombia, Cuba, Costa Rica, the Dominican Republic, Ecuador, Uruguay, El Salvador and Guatemala lagged somewhat behind, together accounting for a further 30%.

In terms of the main importing countries, the Dominican Republic, with a CAGR of +6.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the import price showed a mild downturn. The pace of growth appeared the most rapid in 2014 an increase of 8.1%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per unit), while Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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