The global fire extinguisher market size reached US$ 4.8 Billion in 2021. Looking forward, the market to reach US$ 6.8 Billion by 2027, exhibiting at a CAGR of 5.4% during 2022-2027, according to a new report by IMARC Group.
A fire extinguisher refers to a portable fire protection apparatus, which is used for putting out small fires or curb large fires in case of emergency and before the arrival of firefighters. The apparatus includes a cylinder containing an extinguishing agent, a pressure gauge, a nozzle, and a handle. It expels the extinguishing agent at high pressure to deprive the flame of oxygen, cool down the burning material, and interfere with the chemical reaction of flames. There are two different types of fire extinguishers – stored-pressure and cartridge-operated. In stored-pressure units, the expellant and the extinguishing agent are stored in the same chamber. On the other hand, the expellant gas is kept in a separate cartridge in cartridge-operated units, which is punctured before discharge and then blends with the extinguishing agent.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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One of the major factors for the growth of the market is the stringent safety standards introduced by governments of various nations to avert any untoward incident due to fire outbreaks. As a result, restaurants, offices, buildings, factories, schools, hospitals, and offices now include fire extinguishers in most countries. Apart from this, many companies are focusing on mergers and acquisitions (M&A) to expand their market operations and consumer base. For instance, Kidde, a manufacturer and distributor of fire detection and suppression equipment, has acquired the production operations of Croda International, a British specialty chemical company in Liverpool and Lyon.
Furthermore, the leading manufacturers are focusing on the production of lightweight, cost-efficient, and compact fire extinguishers. They are also developing eco-friendly gas- or powder-based fire extinguishers as they do not emit toxic residue or gases. In addition to this, acoustic waves are being employed for manufacturing sound-based fire extinguishers, which, in turn, is creating a positive outlook for the market growth.
Some of the key players being Amerex Corporation, United Technologies Corporation, Tyco Fire Protection Products, Minimax, Britannia Fire Ltd., First Alert Inc., JL Industries, Ceasefire Industries Pvt. Ltd., Feuerschutz Jockel GmbH & Co. KG and Desautel.
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