The Fire Extinguisher Market is witnessing a steady surge in demand due to the alarming rise in fire fatalities in both residential and commercial properties. As the need for effective fire control becomes more evident, fire extinguishers have emerged as critical components for swiftly extinguishing flames, particularly in confined spaces. These essential devices are designed with simplicity in mind, empowering individuals to tackle fire emergencies with confidence and efficiency.
According to Future Market Insights, the fire extinguisher market would grow at a 5.7% CAGR from 2023 to 2033. The market is estimated to be valued at US$ 7 billion by the conclusion of the aforementioned timeframe. Fire extinguisher sales are expected to reach US$ 4 billion by 2023.
As the incidence of fire fatalities in residential and commercial properties climbs, so does the demand for fire extinguishers. Fire extinguishers are critical components for extinguishing flames, especially in confined locations. These devices are designed to be simple in order to lessen fire dangers in emergency situations.
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Hydrant systems and automated fire sprinkler systems, for example, need the deployment of trained firefighters or specialized equipment, both of which have a restricted range in confined places. Sprinkler systems are also out of reach due to hefty expenses.
Key Takeaways from the Market Study
- From 2018 to 2022, the global fire hydrant market grew at a CAGR of 4.5%
- As of 2022, the fire hydrant market was valued at US$ 3.8 billion
- The United States is expected to be an opportunistic market, accumulating a valuation of US$ 1 billion in 2021
- Germany to account for 15.7% of the European fire extinguishers demand
- As of 2022, the market for fire extinguishers in China was valued at US$ 560 million
- India to experience a CAGR of 6% from 2023 to 2033 with respect to fire extinguishers sales
- Around 1/4thof all fire extinguishers are expected to comprise dry chemicals
- By fire type, class A fires to generate incremental opportunity worth US$ 1.6 billion
‘The global fire extinguisher business is expected to grow significantly. Increased construction activity for commercial spaces, new manufacturing plants, and the introduction of new housing developments, combined with the implementation of strict fire safety laws, are all influencing the global fire extinguishing market,’ says FMI analyst.
Competitive Landscape
The global fire extinguisher marketplace is extremely competitive with numerous small-scale and local competitors present. Key players in the fire extinguishers market use tactics such as company growth through mergers and acquisitions, product launches, partnerships, and alliances.
- Ceasefire Industries Pvt. Ltd. unveiled an exclusive range of home extinguishers with a compact point-and-shoot construct in August 2022.
- SFP Holding, Inc. declared in June 2002 that its subsidiary companies, Summit Fire & Security and Summit Fire Protection, had just concluded ten strategic acquisitions.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global fire extinguisher market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights by product type (water, foam, we chemical, dry powder, carbon dioxide, dry chemical, and others), fire type (class A, class B, class C, class D, and class D), and end-user (residential, commercial, industrial, public areas, and others) across five major regions (North America, Latin America, Asia Pacific, Europe and Middle East & Africa).
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Key Segments Profiled in the Fire Extinguisher Industry Survey
By Product Type:
- Water
- Air-Pressurized Water
- Water-Mist
- Foam
- Aqueous Film-Foaming Foam
- Compressed Air Foam System
- Others
- Wet Chemical
- Potassium Acetate
- Potassium Carbonate
- Potassium Citrate
- Dry Powder
- Carbon Dioxide
- Dry Chemical
- Others
By Fire Type:
- Class A
- Class B
- Class C
- Class D
- Class K
By End-Use:
- Residential
- Commercial
- Industrial
- Public Areas
- Others
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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