Fire Extinguishers Market Segmentation, Future Opportunity, Current Challenges, Geographical Regions, Key Manufacturers & Industry Analysis

Governments across the world and international regulatory bodies are drafting stringent fire safety norms for residential, commercial, and manufacturing units to ensure the safety of people and avoid asset loss. For instance, the National Fire Protection Association (NFPA) publishes over 300 consensus codes and standards, such as standards for portable fire extinguishers and standards on hybrid (water and inert gas) fire extinguishing systems, to minimize the possibility and effects of fire and other risks. To comply with such regulations, fire extinguishers are being deployed in large numbers.

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Moreover, the increasing construction activities in developing countries will help the fire extinguishers market advance at a CAGR of 6.2% during 2018–2023. According to P&S Intelligence, the market was valued at $4,487.0 million in 2017, and it is projected to generate $6,452.3 million revenue by 2023. The construction industry in India, Saudi Arabia, Indonesia, and China and developed countries, including Japan and the U.S., is witnessing the influx of hefty investments, owing to which a substantial surge in the number of industrial plants, commercial centers, and smart cities is being observed.

The key manufacturers of such products are Feuerschutz Jockel GmbH & Co. KG, First Alert Inc., Desautel, Minimax GmbH & Co. KG, and United Technologies Corporation. At present, these companies are focusing on developing new products, such as sound-based fire extinguishers, to offer improved solutions to their clientele. The acoustic waves produced by these fire extinguishers increase the air velocity, which eventually leads to the reduction in the boundary layer of the burning substance.

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Globally, North America dominated the fire extinguishers market in the preceding years due to the large-scale construction of commercial, education, and residential infrastructure in the U.S. Additionally, the increasing modernization of existing commercial projects and surging fire safety concerns are fueling the adoption of these devices in the region. Whereas, the Asia-Pacific (APAC) region is expected to install them at the highest rate in the foreseeable future owing to the development of green buildings, including residential and commercial buildings, and smart cities.

Thus, the toughening fire safety regulations and expanding construction sector will boost the adoption of fire extinguishers across the world.

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