Published by maria gbaf
Posted on January 28, 2022
4 min readLast updated: January 28, 2026
The fire extinguisher market is set to expand at a 5.5% CAGR through 2031, driven by industrial demand and stringent safety regulations.
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.
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.
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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
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“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.
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The main topic is the growth and analysis of the fire extinguisher market projected through 2031.
The market is expected to grow at a CAGR of 5.5% from 2021 to 2031.
Increasing industrial and commercial demand and stringent safety regulations are key drivers.
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