Implementation of Stringent Regulations & Building Design Codes to Steer Developments in the Fire Extinguisher Market: FMI Study

May 26,2021 | Industrial Automation

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.

Fire Extinguisher Market

A recent market study published by Future Market Insights on the fire extinguisher market ...

Fire Extinguisher Market

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.

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 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.

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.

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

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.