Every year, 180,000 people are burned to death, with the major chunk of these burn cases being registered in low- and middle-income countries, says the World Health Organization (WHO). Many among who survive face long-term hospitalization, disability, and social stigma. A big reason behind this is that either the fire safety standards aren’t strict enough or aren’t followed properly. With the concerns on the issue growing, governments around the world are implementing even stricter regulations than before and making sure they are followed.

Therefore, with the rising awareness on the issue of burn injuries and mortality, the fire extinguishers market is projected to grow from $4,487.0 million in 2017 to $6,452.3 million by 2023, at a 6.2% CAGR during 2018–2023 (forecast period). There are several types of fire extinguishers available these days: carbon dioxide, dry-chemical and dry-powder, water-based, foam-based, and clean agent. Among these, the dry-chemical and dry-powder variants are used most commonly, as, because of the dry nature of the contents inside, the damage to electrical wires and systems is minimal.

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Presently, North America is the largest fire extinguishers market, as it accounts for some of the most stringent fire safety norms anywhere in the world. Additionally, the region is undergoing large-scale development of commercial, educational, and residential infrastructure, which is further creating a high demand for such instruments. In future, the sale of fire extinguishers is predicted to increase at the highest rate in Asia-Pacific (APAC), owing to the rapid development of infrastructure in regional countries, such as India, China, and Japan.

According to government sources, 7 million people in India suffer some kind of burn every year, of which 140,000 people end up dead, while 240,000 more suffer disability. Further, almost equal numbers of males and females suffer burns, which is in stark contrast to many other injuries, where men carry a higher prevalence rate than women. To tackle this, the Indian Ministry of Housing and Urban Affairs (MoHUA) has released strict guidelines mandating the installation of fire extinguishers in offices and all other public buildings.

Thus, with the awareness on fire safety increasing in developing countries, safety regulations will be made stricter, because of which the demand for extinguishers will also go up.