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on January 17, 2024
IMARC Group's report titled "Fire Extinguisher Market Report by Product (Portable, Knapsack, Wheeled), Extinguishing Agent (Dry chemical, Foam, Carbon Dioxide, Dry Powder, and Others), Fire (Class A, Class B, Class C, Class D, Class K), Application (Industrial, Commercial, Households, Public Areas, and Others) and Region 2024-2032". The global fire extinguisher market size reached US$ 5.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032.
Factors Affecting the Growth of the Fire Extinguisher Industry:
- Implementation of Stringent Safety Regulations and Compliance Requirements:
The fire extinguisher market is majorly driven by the implementation of stringent safety regulations and compliance requirements. Across various industries and regions, government agencies and building codes mandate the presence of fire safety equipment, with fire extinguishers being a critical component. These regulations create a constant and substantial demand for fire extinguishers, as organizations and property owners are legally obligated to ensure fire safety on their premises. Compliance with safety standards is non-negotiable, compelling the consistent use, installation, and maintenance of fire extinguishers, thus serving as a robust driver for market growth.
- Increasing Awareness of Fire Safety:
The fire extinguisher market significantly benefits from a heightened awareness of fire safety in both residential and commercial environments. As individuals and organizations become more proactive in their approach to fire prevention and control, the demand for fire extinguishers continues to rise. Fire incidents can result in significant loss of life and property damage, motivating a growing emphasis on fire safety measures. Fire extinguishers, as readily accessible tools for addressing fire emergencies, are increasingly recognized as vital components of safety protocols. This awareness-driven demand accelerates the adoption of fire extinguishers as essential safeguards against fire hazards, further propelling market growth.
- Technological Advancements in Fire Extinguisher Solutions:
Innovative developments have led to the creation of fire extinguisher solutions that are more efficient and user-friendly. Modern fire extinguishers are designed to be compact, easy to operate, and effective in tackling a variety of fire types. Innovations in extinguishing agents, delivery mechanisms, and materials have significantly enhanced their performance and reliability. These technological advancements make fire extinguishers more accessible and appealing to consumers and businesses. They align with evolving safety requirements, thereby contributing to market growth as it continues to evolve and improve fire safety measures.
Leading Companies Operating in the Global Fire Extinguisher Industry:
- Amerex Corporation
- Tyco Fire Products LP
- Minimax GmbH & Company KG
- Britannia Fire Ltd.
- First Alert Inc.
- JL Industries Inc.
- Ceasefire Industries Pvt. Ltd.
- Feuerschutz Jockel gmbH & Co. KG and Desautel
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/fire-extinguisher-market/requestsample
Fire Extinguisher Market Report Segmentation:
By Product:
- Portable
- Knapsack
- Wheeled
Portable represented the leading segment due to its versatility and ease of use in various settings.
By Extinguishing Agent:
- Dry Chemical
- Foam
- Carbon Dioxide
- Dry Powder
- Others
Dry chemicals accounted for the largest market share owing to their effectiveness in extinguishing various types of fires, including those involving solids, liquids, and gases.
By Fire:
- Class A
- Class B
- Class C
- Class D
- Class K
Class A represented the largest segment as it encompasses fires involving common combustibles such as wood, paper, and textiles, making it a prevalent category for fire incidents.
By Application:
- Industrial
- Commercial
- Households
- Public Areas
- Others
Industrial applications held the majority of the market share on account of the widespread use of fire extinguishers in manufacturing facilities, warehouses, and other industrial settings, where fire hazards are a concern.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Fire Extinguisher Market Trends:
The fire extinguisher market is primarily driven by the implementation of stringent safety regulations and building codes across industries and regions that mandate the presence of fire safety equipment, including fire extinguishers, in various settings. Apart from this, the heightening awareness of fire safety in residential and commercial spaces has accelerated the product adoption rate as individuals and organizations seek proactive measures to protect lives and property. Furthermore, ongoing technological advancements have led to the development of more efficient and user-friendly fire extinguisher solutions that make them more accessible and effective, thus supporting market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
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Topics:
fire extinguisher market share