Executive Summary

The global fire extinguisher market is expected to grow at a CAGR of 5.5% during the forecast period (2021-2028). The market growth is driven by the increasing awareness regarding fire safety, along with the rise in construction activities across the globe. Additionally, the implementation of strict regulations and standards by governments and regulatory bodies is also expected to contribute to the growth of the market.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

1. The Asia-Pacific region is expected to dominate the fire extinguisher market during the forecast period, owing to the increasing construction activities and growing awareness regarding fire safety in countries such as China, India, and Japan.
2. The dry powder segment is expected to dominate the market during the forecast period, owing to its effectiveness in extinguishing fires involving flammable liquids, gases, and electrical equipment.
3. The commercial and industrial segment is expected to account for the largest share of the market during the forecast period, owing to the increasing demand for fire extinguishers in industries such as oil and gas, chemicals, and manufacturing.

Market Drivers

1. Increasing Awareness Regarding Fire Safety: The increasing awareness regarding fire safety, along with the implementation of strict regulations and standards by governments and regulatory bodies, is expected to drive the growth of the fire extinguisher market during the forecast period.
2. Rise in Construction Activities: The rise in construction activities across the globe, particularly in emerging economies, is expected to contribute to the growth of the fire extinguisher market during the forecast period.
3. Increasing Demand from Commercial and Industrial Sectors: The increasing demand for fire extinguishers in industries such as oil and gas, chemicals, and manufacturing, is expected to drive the growth of the market during the forecast period.

Market Restraints

1. High Cost of Fire Extinguishers: The high cost of fire extinguishers, particularly for specialized types such as clean agent extinguishers, is expected to hinder the growth of the market during the forecast period.
2. Low Awareness in Developing Countries: The low awareness regarding fire safety in developing countries, particularly in rural areas, is expected to restrain the growth of the market during the forecast period.

Market Opportunities

1. Technological Advancements: The development of technologically advanced fire extinguishers, such as those that use nanotechnology or smart sensors, is expected to create new opportunities for growth in the market during the forecast period.
2. Growing Focus on Environment-Friendly Products: The growing focus on environment friendly products, such as clean agent fire extinguishers, is expected to create new opportunities for growth in the market during the forecast period.

Market Dynamics

The global fire extinguisher market is highly competitive, with several major players operating in the market. The market is characterized by the presence of a large number of small and medium-sized enterprises, particularly in developing countries.

In recent years, there has been a growing trend towards the development of environment-friendly fire extinguishers, particularly clean agent extinguishers. These extinguishers are non-toxic and do not harm the environment, making them an attractive option for customers who are looking for sustainable and environmentally friendly products.

Regional Analysis

The Asia-Pacific region is expected to dominate the fire extinguisher market during the forecast period, owing to the increasing construction activities and growing awareness regarding fire safety in countries such as China, India, and Japan. Additionally, the increasing demand for fire extinguishers in industries such as oil and gas, chemicals, and manufacturing is also expected to contribute to the growth of the market in this region.

The North American and European regions are also expected to witness significant growth during the forecast period, owing to the increasing adoption of fire safety equipment and the implementation of strict regulations and standards by governments and regulatory bodies.

Competitive Landscape

Leading Companies in the Fire Extinguisher Market:

1. Amerex Corporation
2. Johnson Controls International plc
3. Tyco Fire Products LP (a part of Johnson Controls International plc)
4. First Alert (a part of Newell Brands Inc.)
5. BRK Brands, Inc. (a part of Newell Brands Inc.)
6. Kidde (a part of Carrier Global Corporation)
7. Britannia Fire Ltd.
8. Ceasefire Industries Pvt. Ltd.
9. Halma plc
10. Minimax GmbH & Co. KG

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global fire extinguisher market can be segmented on the basis of type, application, and region.

On the basis of type, the market can be segmented into water extinguishers, foam extinguishers, dry powder extinguishers, carbon dioxide extinguishers, and others.

On the basis of application, the market can be segmented into commercial and industrial, residential, and others.

Category-wise Insights

1. Dry Powder Extinguishers: The dry powder segment is expected to dominate the market during the forecast period, owing to its effectiveness in extinguishing fires involving flammable liquids, gases, and electrical equipment.
2. Commercial and Industrial: The commercial and industrial segment is expected to account for the largest share of the market during the forecast period, owing to the increasing demand for fire extinguishers in industries such as oil and gas, chemicals, and manufacturing.

Key Benefits for Industry Participants and Stakeholders

1. Provides a comprehensive understanding of the global fire extinguisher market and its key drivers, restraints, opportunities, and challenges.
2. Provides insights into the market segmentation and market share of the key players in the market.
3. Provides information on the latest trends and developments in the market, including technological advancements and product innovations.
4. Provides information on the impact of COVID-19 on the global fire extinguisher market.

SWOT Analysis

Strengths:

1. Increasing awareness regarding fire safety.
2. Implementation of strict regulations and standards by governments and regulatory bodies.
3. Rise in construction activities across the globe.

Weaknesses:

1. High cost of fire extinguishers.
2. Low awareness regarding fire safety in developing countries.

Opportunities:

1. Technological advancements in fire extinguishers.
2. Growing focus on environment-friendly products.

Threats:

1. Competition from local players in developing countries.
2. Stringent regulations and standards.

Market Key Trends

1. Growing emphasis on environment-friendly fire extinguishers, such as clean agent extinguishers, which are non-toxic and do not harm the environment.
2. Increasing adoption of technologically advanced fire extinguishers, such as those that use nanotechnology or smart sensors, to enhance their effectiveness and safety.
3. Growing trend towards the development of portable fire extinguishers that are easy to use and can be carried by individuals.
4. Increasing focus on fire safety in the oil and gas industry, particularly in offshore and onshore drilling operations, to prevent accidents and protect workers.

Covid-19 Impact

The COVID-19 pandemic has had a significant impact on the global fire extinguisher market. The outbreak of the pandemic has led to a slowdown in construction activities and a decline in demand for fire safety equipment, particularly in the commercial and industrial sectors.

However, the pandemic has also highlighted the importance of fire safety and the need for effective fire safety equipment, particularly in healthcare facilities and other critical infrastructure. This has led to an increased demand for fire safety equipment in these sectors, which is expected to drive the growth of the market during the post-pandemic period.

Key Industry Developments

1. In February 2021, Minimax GmbH & Co. KG announced the launch of a new range of portable fire extinguishers that are equipped with the latest technology and are easy to use.
2. In June 2020, Tyco Fire Protection Products announced the launch of a new range of fire extinguishers that are designed to provide superior performance and are environmentally friendly.
3. In November 2019, Kidde-Fenwal Inc. announced the launch of a new range of clean agent fire extinguishers that are non-toxic and do not harm the environment.

Analyst Suggestions

1. Focus on developing environment-friendly fire extinguishers, such as clean agent extinguishers, to meet the growing demand for sustainable and environmentally friendly products.
2. Invest in research and development to develop technologically advanced fire extinguishers that can enhance their effectiveness and safety.
3. Collaborate with regulatory bodies and governments to ensure compliance with regulations and standards and to promote fire safety awareness.

Future Outlook

The global fire extinguisher market is expected to witness significant growth during the forecast period, owing to the increasing awareness regarding fire safety, the rise in construction activities, and the implementation of strict regulations and standards by governments and regulatory bodies.

Additionally, the development of environment-friendly fire extinguishers, such as clean agent extinguishers, and the increasing adoption of technologically advanced fire extinguishers are expected to create new opportunities for growth in the market during the forecast period.

Conclusion

The global fire extinguisher market is expected to witness significant growth during the forecast period, owing to the increasing awareness regarding fire safety, the rise in construction activities, and the implementation of strict regulations and standards by governments and regulatory bodies. The development of environment-friendly fire extinguishers and the increasing adoption of technologically advanced fire extinguishers are expected to create new opportunities for growth in the market during the forecast period.