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North America Fire Extinguisher Market to Reach US$ 1.8 Billion by 2027, Propelled by the Exponential Growth in the Construction Industry

Published on Nov 17, 2022

The latest report by IMARC, titled “North America Fire Extinguisher Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the North America Fire Extinguisher Market size reached US$ 1.5 Billion in 2021. A fire extinguisher is a portable safety device used to extinguish small fires. It is also utilized for reducing potential destruction before the arrival of firefighters. It is usually installed in buildings, factories, vehicles, and public spaces. It consists of a cylinder that has an extinguishing agent, a pressure gauge, a handle, and a nozzle. A fire extinguisher interferes with the fire triangle made of three elements required to create a fire, including oxygen, fuel, and heat. It operates by expelling the extinguishing agent at a high pressure, which aids in cooling the burning material, denying the flame of oxygen and interfering with the flame’s chemical reaction. Some of the most commonly available fire extinguishers include foam-based, carbon dioxide (CO2), and dry chemical extinguishers.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect effect of the associated industries. These observations will further be integrated into the market.

North America Fire Extinguisher Market Trends:

One of the primary factors driving the market is the exponential growth in the construction industry, including residential and commercial sectors. Additionally, numerous transportation owners are installing fire suppressant equipment in broad vehicles, such as buses, to ensure the safety of passengers, thereby creating a positive market outlook. Other than this, the market is further propelled by insurance agencies, which have made it to the installation of a fire extinguisher mandatory in insured buildings. Besides this, the extensive utilization of fire extinguishers in restaurants, schools, hotels, hospitals, offices, factories and houses due to the introduction of stringent safety norms by the government to prevent any unexpected incidents or fire outbreaks is propelling the market growth. In line with this, key players are launching eco-friendly, gas-or powder-based fire extinguishers that do not release toxic gases. They are also expanding their consumer base by introducing lightweight, compact, and economical fire extinguishers. Moreover, several companies are extensively investing in mergers and acquisitions (M&A) to expand product portfolios and broaden their market operations globally. Looking forward, IMARC Group expects the market value to reach US$ 1.8 Billion by 2027, expanding at a CAGR of 3.43% during the forecast period (2022-2027).

Market Summary:

  • Based on the product, the market has been divided into portable, knapsack, and wheeled.
  • On the basis of the extinguishing agent, the market has been segmented into dry chemicals, foam, carbon dioxide and others.
  • Based on the fire type, the market has been segregated into class A, B, C, and others.
  • On the basis of the application, the market has been categorized into industrial, commercial, households, public areas, and others.
  • Region-wise, the market has been classified into the United States and Canada.
  • The competitive landscape of the market has also been analyzed, along with the detailed profiles of key players operating in the industry.
     

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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