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- Global Fire Extinguisher Market
Global Fire Extinguisher Market to Reach US$ 8.5 Billion by 2032, Impelled by Implementation of Stringent Safety Regulations
November 11, 2022
| Chemical & Materials
The latest report by IMARC Group, titled “Fire Extinguisher Market Report by Product (Portable, Knapsack, Wheeled), Extinguishing Agent (Dry chemical, Foam, Carbon Dioxide, Dry Powder, and Others), Fire (Class A, Class B, Class C, Class D, Class K), Application (Industrial, Commercial, Households, Public Areas, and Others) and Region 2024-2032,” finds that the global fire extinguisher market reached a value of US$ 5.4 Billion in 2023. A fire extinguisher refers to portable fire protection equipment used for putting out or curbing fires in case of emergency and before the arrival of firefighters. It includes a cylinder containing a pressure gauge, a nozzle, and a handle. It works by dispensing the extinguishing agent at a high pressure, which deprives the flame of oxygen, cools the burning material, and interferes with the flame’s chemical reaction. Owing to these properties, fire extinguishers find extensive applications in commercial and residential sectors across the globe. .
Global Fire Extinguisher Market Trends:
The market is primarily driven by the implementation of stringent government regulations in numerous countries to prevent any unexpected incidents on account of fire outbreaks. In addition, the increasing installations of fire extinguishers, especially in restaurants, hotels, schools, houses, hospitals, offices, and factories, represent another major growth-inducing factor. Besides this, the market is also propelled by the rising industrialization levels and the increasing construction of commercial spaces in developing regions. Moreover, key players are introducing eco-friendly, gas- and powder-based fire extinguishers that do not emit toxic gases. They are also expanding product portfolio by developing compact, lightweight, and cost-efficient fire extinguishers. This, coupled with the implementation of policies by insurance agencies that make it compulsory to install a fire extinguisher in insured buildings, is positively influencing the market growth. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2032, exhibiting a CAGR of 5.1% during 2024-2032.
Market Summary:
- Based on the product, the market has been categorized into portable, knapsack, and wheeled. At present, portable fire extinguishers exhibit a clear dominance in the market.
- On the basis of the extinguishing agent, the market has been segregated into dry chemicals, foam, carbon dioxide, dry powder, and others. Amongst these, dry chemicals hold the largest market share.
- Based on the fire, the market has been classified into Class A, Class B, Class C, Class D, and Class K. Currently, Class A fires account for the majority of the total market share.
- On the basis of the application, the market has been segmented into industrial, commercial, households, public areas, and others. At present, the industrial sector holds the largest market share.
- Region-wise, the market has been divided into Europe, Asia Pacific, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined in the report, with some of the key players being Amerex Corporation, Tyco Fire Products LP, Minimax GmbH & Company KG, Britannia Fire Ltd., First Alert Inc., JL Industries, Inc., Ceasefire Industries Pvt. Ltd., Feuerschutz Jockel GmbH & Co. KG and Desautel.
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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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