In 2023, hand-portable fire extinguishing equipment and fixed-system sales in the US were valued at approximately $1.224 billion. From the current data, the market is expected to see a steady increase year-over-year, with values projected to grow at a compounded annual growth rate (CAGR) of around 0.9% from 2024 to 2028. Between 2024 and 2025, growth is anticipated to be around 0.95%, while subsequent years see slight increases of approximately 0.91% per annum through 2028, indicating moderate market expansion.
Future trends to watch include:
- Technological advancements in fire suppression systems that could drive innovation and increase demand.
- Regulatory changes and safety standards that may influence market dynamics.
- Environmental concerns leading to increased adoption of eco-friendly fire extinguishing solutions.
- Fluctuations in construction activity impacting demand for fixed systems in new buildings.
