The Fire Extinguisher Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Fire Extinguisher market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Fire Extinguisher. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The Fire Extinguisher Market is currently experiencing a consistent upsurge in demand, driven by a concerning increase in fire-related fatalities within both residential and commercial settings. As the imperative for effective fire control becomes increasingly apparent, fire extinguishers have emerged as indispensable tools for swiftly and efficiently extinguishing flames, particularly in confined spaces. These essential devices are thoughtfully designed with simplicity at their core, empowering individuals to confidently and effectively address fire emergencies.
According to a report by Future Market Insights, the fire extinguisher market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 5.7% from 2023 to 2033. By the conclusion of this specified period, it is estimated that the market will attain a valuation of approximately US$ 7 billion. Notably, fire extinguisher sales are expected to reach a significant milestone, surpassing US$ 4 billion by the year 2023.
As the incidence of fire-related fatalities in both residential and commercial properties continues to rise, so too does the demand for fire extinguishers. These devices, with their simplicity of operation, play a pivotal role in mitigating fire hazards during critical emergency situations.
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The installation and maintenance of hydrant systems and automated fire sprinkler systems necessitate the involvement of skilled firefighters or specialized equipment, both of which are limited in their applicability within confined spaces. Additionally, the implementation of sprinkler systems can be cost-prohibitive, rendering them inaccessible to certain entities.
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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