The new report by Expert Market Research titled, ‘Global Fire Extinguisher Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global fire extinguisher market, assessing the market based on its segments like product, extinguishing agent, fire, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 4.5 billion
- Forecast CAGR (2021-2026): 5%
- Forecast Market Size (2026): USD 6 billion
The global fire extinguisher market is expected to witness a significant boost due to the strict government regulations for fire safety norms and rising awareness about safety. Governments of many countries are adopting high safety measures to avoid and control accidents caused by fire outbreaks. Increasing industrialisation and urbanisation, which is further leading the growth of residential and commercial sites, is propelling the growth of the fire extinguisher industry. Another significant factor behind the growth of this industry is the rising rate of technical innovations such as the use of sensors in fire extinguishers and fire sprinklers.
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Industry Definition and Major Segments
A fire extinguisher refers to a portable device that discharges a jet of water, gas or foam to extinguish a fire and is used to reduce and minimalise the damage caused by fire before the arrival of the firefighters. It consists of a cylinder with a lifting agent, a screw, a handle as well as a pressure indicator.
On the basis of product, the market can be segmented into:
On the basis of extinguishing agent, the market can be divided into:
- Dry Chemical
- Carbon Dioxide
- Dry Powder
The market is segmented on the basis of fire into:
- Class A
- Class B
- Class C
- Class D
- Class K
The market is divided on the basis of applications into:
- Public Areas
The regional market for the product includes:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growing construction of high-rise buildings is predicted to boost the growth of the fire extinguisher in the forecast period. Also, it is expected to witness a boost due to developed nations like the U.S., Japan, U.A.E, which are investing more in their infrastructure growth. Rapid advancement in technology and growth of technological innovations in the sector is also expected to propel the market growth. With the rising fire safety concerns, it has become mandatory for all residential and commercial buildings to have a fire extinguisher, and many market players are involved in the production of low cost and light weight fire extinguishers. This is expected to augment the market growth over the forecast period.
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Key Market Players
The major players in the market are Amerex Corporation, United Fire Extinguishers, Britannia Fire Ltd., BRK Brands, Inc., and Ceasefire Industries Pvt. Ltd., among others. 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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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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