In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
December 2018: Enola Gaye, a leading manufacturer of smoke grenades, announced price surge in a few of their colored smoke grenades owing to down production. The chemicals that they use to make the colored smoke are massively in short supply globally as global industries are in a short of dyes as they want to manufacture it in a more eco-friendly way.
May 08, 2020: Rheinmetall AG, a European defense contractor, saw significant growth in the defense sector amidst COVID 19 pandemic. The sales increased by 18%. But at the same time, automotive sector with decreasing sales has led to a decrease in growth in this sector.
A smoke grenade is a small bomb inside a canister-type body that produces a thick smoke when it explodes but is non-lethal or less-lethal in nature. They serve various purposes but most commonly it is used in the ground-to-ground or ground-to-air signaling process, as a screening device, and target device for the movement of armed forces by creating a visual distraction that deceives the enemy fire temporarily.
The global smoke grenade market is anticipated to attain a notable CAGR during the forecast period, i.e., 2020-2028. The market is segmented by product type, end-user, and region. Among end-user segmentation, the military and defense segment is anticipated to hold the largest market share during the forecast period owing to smoke grenade’s preferences in both military and naval operations for their concealing and camouflaging properties on the battlefields, capability of releasing a huge amount of smoke and imparting a thicker screen for rapid movement of soldiers.
Increasing utilization of smoke grenades for controlling the riots and protests
Huge demand for the smoke grenade is created due to rising civil turmoil and internal terrorism in various parts of the globe.
To control the occurrences of violent protests and civil turmoil without the use of lethal force, smoke grenades are heavily preferred by law enforcement bodies, which is expected to boost the demand for the smoke grenade in the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
A rise in eco-friendly agents being used for manufacturing smoke grenades
Owing to growing safety concerns and to reduce the toxic contamination, vendors in the manufacturing industry are using eco-friendly agents in the manufacturing of smoke grenades. This will boost the demand for smoke grenades in the global market.
Additionally, technological advancements have led to the creation of new generation smoke grenades that are less lethal and handheld. The technology might help in creating light weights and effective grenade launch systems which will further strengthen the market growth.
Toxic pollution and safety risks might hinder the growth
There have been cases of accidental explosions and there is a significant risk of toxic contamination due to smoke grenades. These factors is anticipated to attribute towards the slow market growth of smoke grenades during the forecast period.
Our in-depth analysis of the global smoke grenade market includes the following segments:
Geographically, the global smoke grenade market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America is estimated to account for the largest market share owing to huge investments in the smoke grenade market by the companies operating in the U.S. and Canada, and substantial use of diverse non-lethal weapons by law administering bodies to monitor the violent gatherings. The U.S. is the home to most of the major companies in the market.
Europe is anticipated to witness significant growth during the forecast period owing to increasing demand for the smoke grenade. This is attributed to the rise in the number of riots and hostile troubles.
Asia-Pacific is estimated to come up as the fastest-growing region during the forecast period. This is primarily attributed to the increase in crowd management situations resulting from civil unrest and violent protests in countries, such as India, China, and South Korea. These countries have witnessed huge government spending on defense equipment and promoting air transport which requires smoke grenade.
Growing occurrences of protests and riots in some areas of the Middle East and Africa has contributed towards the demand for the smoke grenade to control civil unrest in these regions.
The global smoke grenade market is further classified based on region as follows:
• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• the Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis