The global fire extinguisher market size reached US$ 4.8 Billion in 2021. Looking forward, the market to reach US$ 6.8 Billion by 2027, exhibiting at a CAGR of 5.4% during 2022-2027, according to a new report by IMARC Group.
Base Year: 2021
Forecast Year: 2022-2027
A fire extinguisher refers to a portable fire protection apparatus, which is used for putting out small fires or curb large fires in case of emergency and before the arrival of firefighters. The apparatus includes a cylinder containing an extinguishing agent, a pressure gauge, a nozzle, and a handle. It expels the extinguishing agent at high pressure to deprive the flame of oxygen, cool down the burning material, and interfere with the chemical reaction of flames. There are two different types of fire extinguishers – stored-pressure and cartridge-operated. In stored-pressure units, the expellant and the extinguishing agent are stored in the same chamber. On the other hand, the expellant gas is kept in a separate cartridge in cartridge-operated units, which is punctured before discharge and then blends with the extinguishing agent.
COVID-19 Impact Analysis
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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One of the major factors for the growth of the market is the stringent safety standards introduced by governments of various nations to avert any untoward incident due to fire outbreaks. As a result, restaurants, offices, buildings, factories, schools, hospitals, and offices now include fire extinguishers in most countries. Apart from this, many companies are focusing on mergers and acquisitions (M&A) to expand their market operations and consumer base. For instance, Kidde, a manufacturer and distributor of fire detection and suppression equipment, has acquired the production operations of Croda International, a British specialty chemical company in Liverpool and Lyon.
Furthermore, the leading manufacturers are focusing on the production of lightweight, cost-efficient, and compact fire extinguishers. They are also developing eco-friendly gas- or powder-based fire extinguishers as they do not emit toxic residue or gases. In addition to this, acoustic waves are being employed for manufacturing sound-based fire extinguishers, which, in turn, is creating a positive outlook for the market growth.
Some of the key players being Amerex Corporation, United Technologies Corporation, Tyco Fire Protection Products, Minimax, Britannia Fire Ltd., First Alert Inc., JL Industries, Ceasefire Industries Pvt. Ltd., Feuerschutz Jockel GmbH & Co. KG and Desautel.
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- Based on the product, the market has been divided into the portable, knapsack, and wheeled fire extinguishers. Among these, portable fire extinguishers account for the majority of the total market share.
- On the basis of the extinguishing agent, dry chemical holds the majority of the market share. Other major segments include carbon dioxide, foam, dry powder, and others.
- Based on the fire, the market has been categorized into Class A, Class B, Class C, Class D, and Class K. Currently, fire extinguishers for Class A fires exhibit a clear dominance in the market.
- On the basis of the application, the industrial sector represents the leading segment. Fire extinguishers also find applications in commercial, households, public areas, and other segments.
- Region-wise, the market has been classified into the Middle East and Africa, Europe, North America, Latin America, and Asia Pacific. At present, North America is the largest market for fire extinguishers.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being Tyco Fire Products LP, Minimax GmbH & Company KG, Amerex Corporation, United Technologies Corporation, Britannia Fire Ltd., First Alert Inc., Feuerschutz Jockel GmbH & Co. KG, Desautel, JL Industries, Inc., and Ceasefire Industries Pvt. Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.