According to Future Market Insights, the fire extinguisher market will grow at a 5.7% CAGR from 2023 to 2033. The market is expected to be valued at US$ 7 billion by the end of the aforementioned period. Fire extinguisher sales are expected to reach US$ 4 billion by 2023.
As the number of fire fatalities in residential and commercial properties rises, so does the demand for fire extinguishers. Fire extinguishers are critical units for fighting fires, especially in confined spaces. These products are designed to be simple in order to reduce fire risks in emergency situations.
Hydrant systems and automated fire sprinkler systems, for example, necessitate the use of trained firefighters or specialised infrastructure, both of which are costly.
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Key Takeaways:
- 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 1/4th 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,” – comments a lead Analyst at FMI.
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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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.
More Valuable Insights Available:
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:
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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 favor 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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