Fire Extinguisher Market Industry to 2031 – Encouragement in Installation of Extinguishers Presents Opportunities

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Fire Extinguisher Market Industry to 2031 – Encouragement in Installation of Extinguishers Presents Opportunities

August 19
13:49 2021
Fire Extinguisher Market Industry to 2031 - Encouragement in Installation of Extinguishers Presents Opportunities
Fire Extinguisher Market
GLOBAL FIRE EXTINGUISHER MARKET TO BE DRIVEN BY STRICT GOVERNMENT REGULATIONS FOR FIRE SAFETY IN THE FORECAST PERIOD OF 2021-2031

A fire extinguisher is an active fire protection device used for extinguishing small fires, often in emergency situations such as no escape route, smoke, and explosion hazard. A fire extinguisher consists of a hand-held cylindrical pressure vessel containing an agent that can be discharged to extinguish a fire. Fire extinguishers also come with non-cylindrical pressure vessels but these are less common. In stored pressure units, the expellant and firefighting agent is stored in the same chamber. Nitrogen is used with dry chemical extinguishers, and air with water and foam extinguishers. Cartridge-operated extinguishers contain the expellant gas in a separate cartridge that is punctured prior to discharge, exposing the propellant to the extinguishing agent. These extinguishers use compressed carbon dioxide

As per a Future Market Insights’ (FMI) analysis, the fire extinguisher market is projected to be valued at over ~US$ 3.6 Bn in 2021, expanding at a CAGR of ~5.7% over the forecast period of 2021-2031.

Increasing industrial and commercial sector applications of fire extinguishers, coupled with implementation of stringent regulations and building codes are likely to result in increasing demand over the forecast period.

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

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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.

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

Risk to life and property – restraints of the fire extinguishers market

Proper use of fire extinguishers is generally safe but there is some risk in terms of mild respiratory, skin, or eye irritation. Use in areas with poor air flow, use with intent to harm someone, or intentional inhalation of fire extinguishers can produce serious toxicity and would require medical evaluation. Fires not only result in the loss of many precious lives and injuries to many but also inflict heavy property loss. Fire in residential buildings, especially in high rise buildings, become more complex and may result in deaths and huge property loss. Such factors restrain the market growth.

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Find More Valuable Insights

The research report analyzes the market demand trends of fire extinguisher market. The global market estimation and growth projection is 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 on the basis of 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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