Global Industrial Fire Extinguisher market to expand at over 5.5% CAGR through 2031

The global fire extinguisher market is estimated to be valued around US$3.6 Bn in 2021, exhibiting 1.1 X increase over the previous year. Future Market Insights expects the global Industrial Fire Extinguisher market to expand at over 5.5% CAGR through 2031. Increasing industrial and commercial sector applications of fire extinguishers, coupled with implementing stringent regulations and building codes, are likely to result in increasing demand over the forecast period.

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However, the ongoing crisis caused by COVID-19 pandemic has severely affected the global economy. It has resulted in a complete shutdown of the supply chain networks and manufacturing activities. This also has negatively affected the overall operations in the fire extinguisher market.

The market is, however, expected to witness lucrative opportunities during the forecast period owing to increasing demand from commercial and industrial sectors. New unit sales and replacement / retrofit jobs will contribute to growth.

Increasing regulations for building design codes in the residential sector, will also generate gains in the coming decade. Moreover, manufacturers are investing in R&D activities to offer innovative and technologically advanced product offerings. These factors are expected to positively influence growth in demand for fire extinguishers during the forecast period.

Key Takeaways of the Fire Extinguisher Market Study

Carbon dioxide extinguishers will account for the leading market share of over 30%, on the back of easy access to raw materials and efficacy in fire control. Dry chemical fire extinguishers are increasingly adopted, due to their superior efficiency in draught-free conditions. Germany will emerge as a key market for fire extinguishers on the back of the implementation of by stringent codes for ensuring better safety in buildings. The U.S. dominates the North America market, accounting for over 80% sales in the region. China will lead the East Asia market, exhibiting growth rate over 6.5% CAGR through the assessment period.
“With the ever-evolving requirements of the global construction industry, demand for fire safety equipment has grown rapidly. Fire extinguishers in particular, have been at the center of these developments in terms of economically feasible solutions. Innovative product offerings have been important for manufacturers to gain competitive benefits,” says an analyst of Future Market Insights.

Competitive Landscape

The fire extinguisher market is highly fragmented. The penetration of local and regional players makes this market highly competitive. Companies operating in the market are trying various strategies to gain a competitive edge, while maintaining their longstanding relationships with a number of equipment distributors and end users.

Some of the key players in the market include but are not limited to

Kidde, CORPORATION, Hochiki Corporation, NAFFCO FZCO, DESAUTEL SAS, HATSUTA SEISAKUSHO Co. Ltd, Yamato Protec Corporation
among others.

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Fire Extinguisher Market by Category

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

Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

Find More Valuable Insights:

The research report analyzes the market demand trends of fire extinguisher market. The global market estimation and growth projection are based on factors like end use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of fire extinguisher. As per Future Market Insights research scope, the fire extinguisher market has been studied and segmented based on pipe size, application, construction material and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.

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About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry

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