The demand for fire extinguishers is projected to surge with a projected CAGR of 5.4% by sales in volume (units). Increasing implementation of strict regulation by governments, particularly in developed economies like the U.S., certain countries in Europe, Japan, and Australia primarily in industrial and commercial spaces generate interest, owing to high-convenience products.
As per a Future Market Insights (FMI) analysis, the fire extinguisher market is projected to be valued at over ~US$ 3.6 Bn in 2021, expanding at a CAGR of ~5.7% over the forecast period of 2021-2031.
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Future Market Insights estimates that more than six out of ten fire extinguishers are sold in the commercial and industrial sectors. Leading companies are incorporating tech-driven manufacturing strategies to expand into the most challenging industrial areas, such as mining, oil and gas, and waste management, where the risk of fire loss is significantly greater.
Product design strategies are impacted by the need for fire extinguishers to survive extreme environments and extreme corrosion conditions in these end-user segments, which will support investments into R&D efforts.
Increasing regulations for building design codes in the residential sector will also generate gains in the coming decade. Moreover, manufacturers are investing in R&D activities to offer innovative and technologically advanced product offerings. These factors are expected to positively influence growth in demand for fire extinguishers during the forecast period.
Key Takeaways of the Fire Extinguisher Market Study
- Carbon dioxide extinguishers will account for the leading market share of over 30%, on the back of easy access to raw materials and efficacy in fire control.
- Dry chemical fire extinguishers are increasingly adopted, due to their superior efficiency in draught-free conditions.
- Germany will emerge as a key market for fire extinguishers on the back of the implementation of stringent codes for ensuring better safety in buildings.
- The U.S. dominates the North American market, accounting for over 80% of sales in the region.
- China will lead the East Asia market, exhibiting a growth rate of over 6.5% CAGR through the assessment period.
“With the ever-evolving requirements of the global construction industry, demand for fire safety equipment has grown rapidly. Fire extinguishers in particular, have been at the center of these developments in terms of economically feasible solutions. Innovative product offerings have been important for manufacturers to gain competitive benefits,” says an analyst of Future Market Insights.
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Some of the key players in the market include but are not limited to Kidde, AMEREX CORPORATION, Hochiki Corporation, NAFFCO FZCO, DESAUTEL SAS, HATSUTA SEISAKUSHO Co. Ltd, Yamato Protec Corporation among others.
By Product Type
- Air-Pressurized Water
- Aqueous film-forming foam
- Compressed air foam system
- Wet Chemical
- Potassium Acetate
- Potassium Carbonate
- Potassium Citrate
- Dry Powder
- Carbon Dioxide
- Dry Chemical
By Fire Type
- Class A
- Class B
- Class C
- Class D
- Class K
- Public Areas
- North America
- Latin America
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
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Fire extinguisher manufacturers will experience increasing demand from various end-use sectors. Commercial sector applications will account for maximum demand in upcoming years due to investments in the sector in many countries. In addition, increased construction sector spending will further create market prospects. The segment is expected to generate an incremental opportunity worth US$ 1.2 Bn in the forecast period through 2031.