From 2013 to 2023, the sold production of fire extinguishers in the EU28 experienced an overall upward trend despite some fluctuations. Starting at 16.21 million items in 2013, the industry saw a notable dip in production from 2014 to 2016. This was followed by a significant surge in 2018, when production rose by 47.55%, and a consistent upward trend continued through 2023, where production stood at 29.037 million items. Year-on-year percentage variations show high volatility, with double-digit swings both positive and negative, notably a -17.47% drop in 2020 and strong recovery phases with 18.47% in 2021 and 8.75% in 2022. Over the last five years, the compound annual growth rate (CAGR) averaged 3.35% through 2023.
Looking forward to the forecast period from 2024 to 2028, a steady growth pattern is predicted with a 2.34% CAGR, reflecting a cumulative growth rate of 12.27%. This suggests a robust market potential with a stable increase in production volumes.
Future trends to watch for include advancements in fire safety technology, regulatory changes across the EU, and the potential impact of economic fluctuations and environmental considerations on manufacturing and demand.
