The new report by Expert Market Research titled, ‘Global Fire Extinguisher Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global fire extinguisher market, assessing the market based on its segments like products, extinguishing agents, fire, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Fire Extinguisher Market Price, Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.4%
The increasing adoption of fire extinguishers in residential and commercial buildings, factories, and public places is driving the growth of the market. In addition, the stringent regulations by various governments aimed towards reducing the risk of property fire and the risk of losing lives associated with fires are propelling the demand for fire extinguishers.
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Moreover, the increasing adoption of advanced electronical appliances, which can catch fire anytime, in the residential sector is encouraging residents to purchase fire extinguisher as a handy equipment in case of emergency. This is an invigorating factor of the market.
At a regional level, North America occupies a significant share in the fire extinguisher market owing to the favourable policies of the government, making fire extinguishers mandatory in commercial and government areas.
Fire Extinguisher Industry Definition and Major Segments
A fire extinguisher is a portable metallic container which is used to stop fire in an area by stopping the flaming process by deploying water and chemicals. The contents of the product are compressed under high pressure and are released once the lock is removed and the handle is squeezed. Moreover, the wetting agents in the an extinguisher put out fire very quickly and effectively. Fire extinguishers are kept handy in various places which can catch fire.
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On the basis of product, the market can be segmented into:
Based on extinguishing agent, the market has been categorised into:
• Dry Chemical (Powder)
• Carbon Dioxide
The market can be broadly categorised based on fire, into:
• Class A
• Class B
• Class C
• Class D
• Class K
Based on application, the market can be segmented into:
On the basis of regions, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Fire Extinguisher Market Trends
The key trends in the fire extinguisher market include the technological advancements in the sectors such as electrical and electronics, and healthcare. The increasing production of modern electronic items and equipment build with a complex circuit can catch fire if handled recklessly. Accordingly, there is need for fire extinguishers around such items.
In addition, the increasing adoption of fire extinguishers in the chemical industry owing to the growing research and development activities in laboratories which involve highly reactive chemicals, is anticipated to be another key trend in the market.
Moreover, the increasing awareness about the damage a fire can cause to life and environment is anticipated to be a major trend in the fire extinguisher market, encouraging the use of the product. The market is likely to be aided by the legal obligations of hotels, restaurants, and public administration buildings to keep fire extinguishers accessible in case of an emergency.
Key Market Players
The major players in the fire extinguisher market are
- Amerex Corporation
- The Desautel Group
- Britannia Fire Ltd.
- BRK Brands, Inc.
- Ceasefire Industries Pvt. Ltd.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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