The fire extinguisher market will register positive growth with the overall valuation forecast to reach USD 3.8 billion in 2022. The demand for fire extinguishers is projected to surge with a projected CAGR of 5.7%. By 2033, the market is expected to reach a valuation of USD 7 billion.
The demand for fire extinguishers is growing due to an increase in the number of fire fatalities in homes and businesses. Fire extinguishers are key units for fighting fire, especially in closed spaces. These products are designed to be simple to minimize fire risks in times of emergencies.
Alternatives such as hydrant systems and automated fire sprinkler systems, require firefighting professionals or specialized infrastructure, which have limited reach in confined spaces. Even sprinkler systems are not very feasible owing to high costs.
| Attributes | Details |
|---|---|
| Fire Extinguisher Market Value (2022) | USD 3.8 billion |
| Fire Extinguisher Market Value (2023) | USD 4 billion |
| Fire Extinguisher Market Expected Value (2033) | USD 7 billion |
| Fire Extinguisher Market Projected CAGR (2023 to 2033) | 5.7% |
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The fire extinguisher market was estimated to register a 4.5% CAGR between 2018 and 2022. Fire extinguishers are pressure vessels that contain a specialized extinguishing agent that aids in the control or dousing of a fire. Portable fire extinguishers are simple to use, lightweight, and portable.
The global fire extinguisher market is expected to expand significantly during the assessment period. Increasing construction activities for the creation of commercial spaces, new industrial plants, and the launch of new housing projects, coupled with the introduction of strict fire safety regulations, are contributing to the global fire extinguishing market.
Advancements in sound and gas based firefighting technology will also influence the growth of the market in the near future. The global fire extinguisher market is estimated to be valued at around USD 3.6 billion in 2021, exhibiting a 1.1x increase over the previous year. Future Market Insights expects the global Industrial Fire Extinguisher market to expand at a 5.7% CAGR through 2033.
Strict Regulatory Approaches to Spur Market Growth
Increasing implementation of strict regulation by governments, particularly in developed economies like the United States, certain countries in Europe, Japan, and Australia primarily in industrial and commercial spaces generate interest, owing to high-convenience products.
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 in R&D efforts.
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Construction Activities in the Nation to Spur Market Expansion
Future Market Insights has projected the United States to remain one of the most lucrative markets through the forecast period. According to the research, the market value was estimated at over USD 1 billion in 2021.
The key factor supporting market expansion in the country is the rise in construction activities, and the enforcement of stringent fire regulations, by bodies such as the National Fire Protection Association (NFPA) which publishes codes and standards intended to minimize the possibility and effects of fire and other risks. Lucrative growth in defense, marine, and tourism industries also pave the way for market growth in the country to the tune of 5.9% per annum.
Modifications in Federal Status to Propel the Market
Germany is anticipated to dominate the market during the assessment period among European countries. The nation was expected to account for a 15.7% value share of the Europe market in 2022.
Federal states are in charge of fire safety in Germany, which is governed by the national model building code. A structure that is vulnerable to fire risks is inspected daily to ensure that it meets fire safety requirements. Strict fire protection regulations are likely to boost the country's progress.
Rapid Industrialization to Boost up The Industry in China
China is one of the key nations experiencing rapid industrialization and automation growth, owing to which it is exhibiting a substantial increase in demand for fire extinguishers.
The market was expected to reach a valuation of USD 560 million in 2022. Reconstruction practices, increased construction activities resulting from the growing population, and government-enforced fire safety codes, including China's Code of Design for Building Fire Protection and Prevention, are all driving the market in the country.
Rising Awarness and Rigorous Governments Rules to Ramp up The Market Growth
The Indian market for fire extinguishers is estimated to rise at a CAGR of 6% (1.3X of the global market growth average) during the forecast period. Commercial offices are expected to produce significant profits for the market based on the end-user sector.
The rising awareness and enforcement of regulations in the region have resulted in a high demand for fire safety systems and equipment in workplaces, which is expected to support the growth of the fire extinguisher market in India.
Manufacturing activities in the region are expected to attract new market participants to invest in the region, simultaneously promoting new materials and technologies in the market.
Tourism Sector to drive market expansion
GCC countries particularly Saudi Arabia, United Arabia Emirates, and Qatar are identified as lucrative markets for fire extinguishers. These countries are expected to record a CAGR of 5.5% during the forecast period.
The demand for fire extinguishers is likely to continue growing in the future on the back of infrastructure expansion and stringent regulations for the construction and maintenance of residential and commercial properties in this region.
With the tourism and recreation sector taking a jump in recent years, the increased flow of capital and related infrastructure will support the growth of the region’s fire extinguishers market.
Dry Chemical Segment to Take Over the Market
Dry chemical fire extinguishers are anticipated to remain dominant, accounting for around 25% of overall consumption volume by the end of 2033. Growth can be attributed to multipurpose applications in varied end-use sectors.
Since the extinguishing agent in these products is dry, there is minimum damage to electrical appliances at the hazard location. Dry-chemical fire extinguishers mostly find use in industrial settings, such as warehouses and manufacturing units.
Carbon dioxide portable extinguishers are anticipated to display promising growth during the forecast period, due to their high demand in commercial spaces. These products are exceptionally successful in Class B and K fire types that leave no residue and collateral damage. Furthermore, water and foam extinguishers will reflect notable growth.
Class A Fires to Play Vital Role in Market Expansion
Class A fires are those that include solids and are estimated to offer an incremental opportunity of USD 1.6 billion during the forecast period ending in 2033. Paper and cardboard, which are used in offices and factories, could be Class A fuel.
Furniture or fixtures and fittings may also be involved. Since solids are the most common source of fuel while being difficult to eliminate, this is one of the most common classes of fires.
Sales of fire extinguisher for Class A fires is high in demand. Although end users prefer ABC-type fire extinguishers for collective security against multiple fire incidents.
Commercial Segment to Grow Owing to High Expenditure
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.
Increased construction sector spending will further create market prospects. The segment is expected to generate an incremental opportunity worth USD 1.7 billion in the forecast period through 2033.
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The global fire extinguisher market is highly fragmented, with the presence of numerous small scale and regional players in the market. Strategies followed by key players in the fire extinguishers market include business expansion through mergers and acquisitions, product launches, collaborations, and alliances.
Key market players also are focusing on strategies involving new dealership networks and collaborations. Investments in research and development for novel products are anticipated to boost growth. For instance:
| Attribute | Details |
|---|---|
| Fire Extinguisher Market Value (2023) | USD 4 billion |
| Fire Extinguisher Market Expected Value (2033) | USD 7 billion |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered | Product Type, Fire Type, End-Use, Region |
| Key Companies Profiled | Kidde; ACTIVAR INC.; AMEREX CORPORATION; BRITANNIA FIRE LTD; Ceasefire Industries Pvt. Ltd.; DESAUTEL SAS; FEUERSCHUTZ JOCKEL GmbH & CO. KG; FIKE CORPORATION; FLAMESTOP AUSTRALIA PTY. LTD.; HATSUTA SEISAKUSHO CO., LTD.; Jactone Products Limited; NAFFCO FZCO; Safex Fire Services Ltd.; SIEX 2001 S.L.; Yamato Protec Corporation; GUNNEBO AB; Hochiki Corporation; Johnson Controls International Plc; PASTOR - TVA - d.d |
| Customization & Pricing | Available upon Request |
The fire extinguisher market is expected to reach USD 4 billion by 2023.
Kidde, ACTIVAR INC., and AMEREX CORPORATION, are the leading industry players.
The fire extinguisher industry is set to surge at a CAGR of 5.7% until 2033.
China's fire extinguisher industry generated USD 560 million in revenue.
Increasing commercial construction activities are propelling the fire extinguisher market growth.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Water 5.1.1. Air-Pressurized Water 5.1.2. Water-Mist 5.2. Foam 5.2.1. Aqueous film-foaming foam 5.2.2. Compressed air foam system 5.2.3. Others 5.3. Wet Chemical 5.3.1. Potassium Acetate 5.3.2. Potassium Carbonate 5.3.3. Potassium Citrate 5.4. Dry Powder 5.5. Carbon Dioxide 5.6. Dry Chemical 5.7. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Fire Type 6.1. Class A 6.2. Class B 6.3. Class C 6.4. Class D 6.5. Class K 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Residential 7.2. Commercial 7.3. Industrial 7.4. Public Areas 7.5. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Kidde 16.2. ACTIVAR INC. 16.3. AMEREX CORPORATION 16.4. BRITANNIA FIRE LTD 16.5. Ceasefire Industries Pvt. Ltd. 16.6. DESAUTEL SAS 16.7. FEUERSCHUTZ JOCKEL GmbH & CO. KG 16.8. FIKE CORPORATION 16.9. FLAMESTOP AUSTRALIA PTY. LTD. 16.10. HATSUTA SEISAKUSHO CO., LTD. 16.11. Jactone Products Limited 16.12. NAFFCO FZCO 16.13. Safex Fire Services Ltd. 16.14. SIEX 2001 S.L. 16.15. Yamato Protec Corporation 16.16. GUNNEBO AB 16.17. Hochiki Corporation 16.18. Johnson Controls International Plc 16.19. PASTOR - TVA - d.d 17. Assumptions & Acronyms Used 18. Research Methodology
Industrial Automation
July 2023
REP-GB-1633
289 pages
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Fire Extinguisher Market
