Fire Extinguishers Market is estimated to surge with a projected CAGR of 5.7%. By 2033

According to Future Market Insights, the fire extinguisher market is anticipated to register a CAGR of 5.7% from 2023 to 2033. By the end of the aforementioned period, a valuation of US$ 7 billion is expected for the market. As of 2023, sales of fire extinguishers are likely to be valued at US$ 4 billion.

The demand for fire extinguishers is increasing as the number of fire fatalities in residential and commercial properties rises. Fire extinguishers are essential units for fighting fires, particularly in enclosed spaces. These products are intended to be simple in order to reduce fire risks in times of emergency.

Hydrant systems and automated fire sprinkler systems, for example, necessitate the use of firefighting professionals or specialized infrastructure, both of which have limited extend in confined spaces. Due to high costs, even sprinkler systems are not affordable.

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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 1/4^th of 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.

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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).