Market Overview:
Global Fire Extinguisher Inspection Services Market size is expected to grow from USD 4,991.2 Million in 2022 to USD 7,544.5 Million by 2030, at a CAGR of 5.3% during the forecast period (2023-2030).
The condition of the fire extinguisher is checked during a supervision-supervised inspection, which includes testing and maintenance. As part of the overall fire safety strategy, a monthly fire extinguisher inspection is organized by an external safety professional or an organization's safety officer. Using a fire extinguisher, members of the public put out about 90% of commercial property fires quickly. Numerous lives could be at risk from a single overturned fire extinguisher. To ensure the safety of buildings and tenants, a safety officer's responsibilities include regularly inspecting fire extinguishers and maintaining up-to-date records.
Top Key Players for Fire Extinguisher Inspection Services Market:
- Vitalong (China)
- Fire & Life Safety America (US)
- High Rise Security Systems (US)
- William Hird & Co. Inc. (US)
- Koorsen Fire & Security (US)
- Impact Fire Services Llc (US)
- Johnson Controls International Plc (Ireland)
- Reliable Fire & Security (US)
- Pye-Barker Fire & Safety Llc (US)
- Chubb Fire & Security Pty Ltd. (Australia)
- Protegis Fire & Safety (US)
- Nanjing Fire Equipment Co. Ltd. (China)
- Aaa Fire Protection Inc. (US)
- Cintas Corporation (US)
- Jim's Fire Safety (US)
- Total Safety U.S. Inc. (US) and Other Major Players
Market Dynamics and Factors:
To prevent accidents brought on by unanticipated fire outbreaks, governments in various economies are accepting high safety standards. Fire extinguishing devices are especially encouraged in homes, schools, restaurants, hotels, hospitals, bureaus, and factories. In addition, the demand for fire extinguishers grows as industrialization rates and trade areas expand, particularly in emerging economies. In addition, insurance companies exert influence over the market by requiring insured buildings to have fire extinguishers installed.
Profitable opportunities in the technological sector are expected to help the market. For instance, in June 2019, at the NFPA Conference, there was a discussion about Smart Connected Things (SCoT) in fire protection systems, which will allow both the owner and service suppliers to establish system health and undertake inspection and testing tasks remotely. In the constantly evolving fire extinguisher inspection service industry, linked devices are now playing a significant role.
Fire Extinguisher Inspection Services Market Report Highlight:
- By Type, the Periodic Inspection segment is expected to dominate the fire extinguisher inspection services market. This segment's dominance can be attributed to the regulatory requirements and the need for periodic inspections to maintain fire safety compliance in various industries and buildings.
- By Fire Extinguisher Type, the ABC Multi-Purpose Fire Extinguishers Segment is expected to register the highest growth during the projected period. Due to their effectiveness in handling a wide range of fire hazards, making them a preferred choice across various sectors.
- By Application, the industrial segment is expected to dominate the fire extinguisher inspection services market during the forecast period. Due to rigorous fire safety regulations, significant industrialization in developing nations, and rising demand for fire extinguishers in the mining, chemical, and oil & gas industries.
- The Asia Pacific region is expected to have the highest share of the Fire Extinguisher Inspection Services market over the projected period. This region's prominence can be attributed to several factors such as rapid urbanization, industrial growth, and increasing awareness about fire safety regulations.
Key Industry Development:
- In April 2023, Johnson Controls, a leading global provider of building solutions, announced the initiation of a closed-loop steel recycling partnership program with Nucor, a prominent steel producer in the United States. This innovative program aims to recover almost 100% of secondary scrap steel generated at major Johnson Controls facilities throughout the country, amounting to several thousand tons annually.
Fire Extinguisher Inspection Services Market Segmentation:
By Type
- Periodic Inspection
- Equipment Maintenance Inspection
By Fire Extinguisher Type
- ABC Multi-Purpose Fire Extinguishers
- Class K Fire Extinguishers
- Class D Fire Extinguishers
- Wet Chemical Fire Extinguishers
- Other
By Application
- Residential
- Commercial
- Industrial
For this report, Introspective Market Research has segmented the Fire Extinguisher Inspection Services Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
- North America
- US
- Canada
- Mexico
- Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
- Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
- Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- South America
- Brazil
- Argentina
- Rest of SA
