Global Fire Extinguisher Market 2023-2030

Global Fire Extinguisher Market 2023-2030

Global Fire Extinguisher Market Size, Share & Trends Analysis Report by Extinguishing Agent (Foam Extinguisher, Dry Powder Extinguisher, Wet Chemical Extinguisher, Carbon Dioxide (CO2) Extinguisher, and Water Extinguisher), by Application Areas (Oil and Gas Industry, Aviation, Healthcare, Data Centers, Manufacturing Facilities, Warehouses, and Others), and by End-Users (Residential, Commercial, and Industrial) Forecast Period (2023-2030)

The global fire extinguisher market is anticipated to grow at a significant CAGR of 5.5% during the forecast period. The market growth is attributed to factors such as increasing investment in infrastructure development, growing industrialization, stringent safety regulations, increasing awareness about fire safety, technological advancements, rising fire accidents, and growth in other industries such as oil and gas, warehousing, E-commerce, and healthcare. For instance, In July 2023, the UK government announced the granting of at least 100 new licenses for oil and gas exploration and production in the North Sea for energy security purposes. This development will improve infrastructure development in the oil and gas industry and will increase demand for the fire extinguisher industry.

Segmental Outlook

The global fire extinguisher market is segmented based on extinguishing agents, application areas, and end-users. Based on the extinguishing agent the market is further sub-segmented foam extinguishers, dry powder extinguishers, wet chemical extinguishers, CO2 extinguishers, and water extinguishers. Based on application areas, the market is sub-segmented into the oil and gas industry, aviation industry, healthcare industry, data centers, manufacturing facilities, warehouses, and others (government buildings, educational institutions). Based on end-users, the market is sub-segmented into residential, commercial, and industrial. Among the application, healthcare is anticipated to hold a considerable share of the market among the end-users, owing to changing regulations, adoption of cloud-based solutions, and increasing use of AI/ML and analytics among others.

Oil and Natural Gas Industry is Anticipated to Hold a Prominent Share in the Global Fire extinguisher Market

Among the types, the oil and natural gas industry is anticipated to hold a prominent share of the market due to the changing geopolitical conditions, growing oil, and natural gas production, and increasing investment into oil exploration. For instance, in April 2023, India’s state-owned Oil and Natural Gas Corporation (ONGC) announced to increase in investment by over $7 billion to reverse years of decline in oil and gas production. Currently, the company has 24 projects ongoing in development and will invest over $ billion to develop the Cluster ll region in Krishna Godavari based offshore India’s eastern coast. With this development, there will also be a new business opportunity will come for the fire extinguisher sector.

Regional Outlook

The global fire extinguisher market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the Asia-Pacific region is expected to grow considerably in the coming years. According to the Infrastructure Outlook, the total infrastructural investment in the Asia Pacific region will be estimated from $1.7 trillion to $2.3 trillion, which is the highest among all regions. In India, under budget 2023-24, capital investment outlay for infrastructure is being increased by 33.0% to $122 billion which would be 3.3% of Gross Domestic Product (GDP). The rapid development in the infrastructure sector, changing safety regulations, and growing industrialization will be key drivers for the growth of the fire extinguisher market in the Asia-Pacific region.

Europe Is Expected to Hold a Prominent Share in the Global Fire Extinguisher Market

The European region is expected to hold a prominent share of the global Fire extinguisher market. For instance, according to the Infrastructure Outlook statistics, the infrastructural investment in the region will increase from $479 billion in 2023 to $583 billion in 2040 with the highest spending will be in the energy sector. Additionally, the UK government announced that from January 2023, the fire safety (England) regulations 2022 will come into effect. This regulation will impose a range of new duties on responsible persons of all multi-occupied residential buildings in England. Stringent safety regulations, increasing investment in infrastructure, changing geopolitical conditions, and increasing awareness of safety and fire prevention will help to grow the fire extinguishers sector in the European region.

Market Players Outlook

The major companies serving the global fire extinguisher market include Activar Construction Products Group Inc., Britannia Fire Ltd., Ceasefire Industries Pvt. Ltd., DESAUTEL, Feuerschutz Jockel GmbH & Co. KG. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including collaborations with private and government players and research and development to stay competitive in the market. For instance, in April 2023, LifeSafe Holdings PLC announced the launch of its new StaySafe All-in-1 fire extinguisher which is designed to tackle 10 types of fire and has eco-friendly fluid. It can be used to extinguish a fire started with lithium-ion batteries, bioethanol, diesel, biodiesel, and motor oil.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global fire extinguisher market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for solid growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.