Global Fire Extinguisher Market Report and Forecast 2023-2028

Global Fire Extinguisher Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global fire extinguisher market reached a value of USD 4830 million in 2022. Aided by the escalating demand for fire safety equipment and the growing construction industry, the market is projected to grow at a CAGR of 5.4% between 2023 and 2028 to reach a value of USD 6595.18 million by 2028.

Fire extinguishers are portable devices used to extinguish or control small fires in emergency situations. They work by suppressing the flames through cooling, smothering, or chemical reactions that inhibit combustion. Fire extinguishers are essential for maintaining safety in residential, commercial, and industrial settings.

The global fire extinguisher market is driven by the increasing awareness about fire safety measures and the implementation of stringent fire safety regulations across various countries. Governments around the world are implementing stringent fire safety regulations and guidelines to ensure the safety of people and property. These regulations mandate the installation of fire extinguishers in public spaces and commercial establishments, thereby fuelling the market growth.

The construction industry worldwide has experienced significant growth in recent years, owing to rapid urbanisation, population expansion, and rising infrastructure investment. As a result, the demand for fire extinguishers in residential, commercial, and industrial buildings has surged, contributing to the global fire extinguisher market expansion.

In addition, the growing awareness about the importance of fire safety measures among individuals and organizations has resulted in the increased adoption of fire extinguishers. Public awareness campaigns, training programs, and workshops have further contributed to the widespread understanding of fire safety protocols and the proper usage of fire extinguishers, thereby propelling the fire extinguisher market.

The growing adoption of advanced fire extinguishing technologies is also propelling the market growth. Technological advancements in fire extinguisher design, materials, and fire suppression agents have led to the development of more effective and efficient fire extinguishing solutions. These innovations have made fire extinguishers more user-friendly, easy to maintain, and environmentally friendly, which further supports the fire extinguisher market growth.

The integration of advanced technologies such as the Internet of Things (IoT) and artificial intelligence (AI) has led to the development of smart fire extinguishers. These extinguishers are equipped with sensors that can monitor the surrounding environment, detect the presence of fire, and automatically activate the extinguishing mechanism. The adoption of smart fire extinguishers is expected to increase during the forecast period, driving the fire extinguisher market growth.

Market Segmentation

The market can be divided based on product, extinguishing agent, fire, application, end user, and region.

Market Breakup by Product

• Portable
• Knapsack
• Wheeled

Market Breakup by Extinguishing Agent

• Dry Chemical (Powder)
• Foam
• Carbon Dioxide
• Others

Market Breakup by Fire

• Class A
• Class B
• Class C
• Class D
• Class K

Market Breakup by Application

• Industrial
• Commercial
• Residential

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global fire extinguisher companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Amerex Corporation
• The Desautel Group
• Britannia Fire Ltd.
• BRK Brands, Inc.
• Ceasefire Industries Pvt. Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.