Chemicals & Materials

Global Portable Fire Extinguisher Market Growth, Scope, Trends and Forecast to 2028

April 27, 2022
ID: SR/CH-72
Format:Pdf
Pages:220

Global Portable Fire Extinguisher Market By Product Type (Dry Chemical, Carbon Dioxide, Water, Foam and Others), By Application (Residential, Industrial, Manufacturing, Construction, Warehouse, Factories, Commercial, Vehicles and Others), and By Region (North America, Europe, Asia-Pacific, South America and The Middle East & Africa)-Global Forecast to 2028.

Description

Portable Fire Extinguisher Market Overview

The Global Portable Fire Extinguisher Market size was valued at USD 4,985.57 Million in 2021 and is expected to reach USD 8,724.83 Million by 2028 with a CAGR of 8.62% during the forecast period of 2022-2028. The portable fire extinguisher market is rising in commercial and residential construction. Similarly, the forced government guidelines to establish portable fire extinguishers are further anticipated to drive the growth of the portable fire extinguisher market. Moreover, the consciousness amongst the users connected to personal safety and property security in an emergency is further evaluated to cushion the development of the portable fire extinguisher market.

What is Portable Fire Extinguisher?

A portable fire extinguisher can be a machine or container that can efficiently move and contain or manufacture any powder, fluid, or gas to extinguish the fire. If utilized accurately, it can save lives and decline the chances of damage. Fire extinguishers can also be pressure vessels that include a specialized extinguishing agent that aids in controlling or dousing a fire. Portable fire extinguishers are easy to use, lightweight, and portable.

Fire extinguishers are growing due to increased fire fatalities in homes and businesses. Fire extinguishers are key for fighting fire, especially in closed spaces. These products are created to be simple to minimize fire risks in emergencies.

Growth Drivers

Growing Urbanization

Urbanization is growing rapidly worldwide, leading to residential and non-residential construction expansion. With this, people are also inclining more toward safety and protection. All these elements cause the growth of the portable fire extinguisher market. Also, the government is taking several actions to spread awareness concerning the need for portable fire extinguishers in all sectors, enabling the portable fire extinguisher market. The essential to safeguard life and reduce accidental loss to the property caused by fire are factors that cause the need to use portable fire extinguishers. Industrialization and commercialization are other reasons for the growing need for portable fire extinguishers. In comparison to traditional fire extinguishers, portable fire extinguishers are much easier to operate and handle, and hence, there is an expansion in demand.

Opportunities

Success Methods for Improving Regional Stronghold

The fire safety landscape is evolving highly competitive, as the number of recent entrants in the mobile fire extinguisher market is multiplying with the potential advancement in demand. Industry leaders are concentrating on consolidating their position by adopting effective distribution strategies, especially to expand their geographical footprint. Prominent players in the portable fire extinguisher space compete to maintain their lead by collaborating with or acquiring small portable fire extinguisher players in regional markets and creating lucrative opportunities.

Restraints

Availability of many options

Multiple substitutes are available for portable fire extinguishers, and that too at decreased prices. It hinders the growth of the portable fire extinguisher market. Sometimes, portable fire extinguishers have some technical issue that is not safe, thereby hindering the market’s growth.

Condition of the Extinguisher

Extinguishers can stay from 5 to 15 years. Inspect the inspection tag to see if it is still in working order. Some have a pressure meter that notifies you if the portable extinguisher is charged. If the arrow is not in the green zone, there isn’t an inspection tag, or there is a visible injury such as a broken hose or lock pin, the extinguisher may not work correctly. It may still be more useful than nothing, but suppose it is unreliable.

Pre Covid-19 Impact on Global Portable Fire Extinguisher Market

Before the covid-19 period, By the End-user perception of portable fire extinguishers is transforming, as convenience drives the launch of new products. The rapidly-transforming fire industry weighs fire protection and ease of using fire extinguishers on the same scale. Manufacturers have responded by leveraging the prowess of mechanization technology and providing their offerings with portable components. End-users require to fight new fire hazards dictated by current technologies while minimizing the chance of damage to life and property, pushing manufacturers to ring in the modifications and streamline the designs of portable fire extinguishers to promote ease of use with greater efficiency.

Covid-19 Impact on Global Portable Fire Extinguisher Market

During the covid-19 period, the pandemic outbreak has impacted almost every sector in one way or another. As the shutdown has shown to the closure of many industries, product manufacturing has stopped. For portable fire extinguishers, an excess of raw material is needed. Other industrial units supply that, but even those units have been shut down in many countries. The supply chain is disrupted. Many employees of the fire control department have to cancel their jobs unless there is a case of trouble.

Post Covid-19 Impact on Global Portable Fire Extinguisher Market

After the covid-19 period, Governments in numerous countries present stringent safety norms to stop any unforeseen incidents or fire outbreaks. It has facilitated the installation of extinguishers, especially in houses, restaurants, hotels, schools, hospitals, offices and factories. The market for fire extinguishers is further supported by increasing industrialization levels, coupled with the construction of commercial spaces, particularly in growing regions. Moreover, the market is impacted by insurance agencies, making it required to install a fire extinguisher in insured facilities. Apart from this, the top players in the industry are presenting eco-friendly, gas- or powder-based fire extinguishers that do not release toxic gases.

By Product Type Segmental Analysis

Based on product type segment, the global fire extinguisher market is segmented into Dry Chemical, Carbon Dioxide, Water, Foam and Others. Dry chemical portable extinguishers carried the largest market share and are projected to be the fastest-growing segment over the forecast period. The popularity of dry chemicals among customers is high owing to their capability to be used on class A, B, and C fires. Besides, they are generally used in residential buildings to combat all three common household fire types efficiently. Relatively low prices and high versatility are also helping the market grow.

By Application Segmental Analysis

Based on application, the global fire extinguisher market is segmented into Residential, Industrial, Manufacturing, Construction, Warehouse, Factories, Commercial, Vehicles and Others. Non-residential sector held the largest market share and is anticipated to maintain its lead over the forecast period. The rapidly expanding commercial and industrial sector helps the product demand in the market. Strict government rules and regulations for fire safety in commercial, industrial, and public areas improve the demand for portable extinguishers.

By Regional Segmental Analysis

Based on region, the global fire extinguisher market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. The Asia Pacific region has maintained the largest market share during the forecast period. The fast growth of the commercial and industrial sectors in the region is increasing the demand for portable extinguishers. Reconstruction activities, connected with fire safety codes enforced by the governments, including Fire Services Law and Building Standards Law in Japan and the Code of Design for Building Fire Protection & Prevention in China, are expanding the portable fire extinguisher demand in the region.

Competitors Analysis

The companies include Hochiki Corporation, Amerex Corporation, Activar Inc., Britannia Fire Ltd., Desautel SaS, Flame Stop Australia Pty. Ltd., and Hatsuta Seisakusho Co. Ltd., Feuerschutz Jockel GmbH & Co., Ceasefire Industries Pvt. Ltd. and other prominent players in the global portable fire extinguisher market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Portable Fire Extinguisher Manufacturings Firms
Local Governments
Regulatory bodies
Suppliers
Retailers

Recent Developments

In May 2021, First Alert cast a new fire extinguisher aspired toward use in home settings and recreational spaces as a low-budget offering. The product has been created to meet rechargeable REC 5 standards.
In February 2021, Win Time Technology presented a new, plant-based fire extinguishing agent at the No Agricultural Waste research and development project. The product will become an eco-friendly option to conventional fire extinguisher offerings.

Scope of the Report

Report Attribute	Details
Revenue in 2021	USD 4,985.57 Million
The revenue forecast in 2028	USD 8,724.83 Million
Growth Rate	CAGR of 8.62 % from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Hochiki Corporation, Amerex Corporation, Activar Inc., Britannia Fire Ltd., Desautel SaS, Flame Stop Australia Pty. Ltd., Hatsuta Seisakusho Co. Ltd., Feuerschutz Jockel GmbH & Co. and Ceasefire Industries Pvt. Ltd is the key player.

Market Modelling

By Product Type

Dry Chemical
Carbon Dioxide
Water
Foam
Others

By Application

By Region

North America
Europe
Asia Pacific
South America
The Middle East & Africa

Table Of Contents

Methodology

Request Sample

Frequently Asked Questions (FAQ):

What is a portable fire extinguisher?

What is the market size of the global portable fire extinguisher market?

What are the growth drivers in the global portable fire extinguisher market?

Who are the key players in the global portable fire extinguisher market?

Hochiki Corporation, Amerex Corporation, Activar Inc., Britannia Fire Ltd., Desautel SaS, Flame Stop Australia Pty. Ltd., Hatsuta Seisakusho Co. Ltd., Feuerschutz Jockel GmbH & Co. and Ceasefire Industries Pvt. Ltd is the key player in the global portable fire extinguisher market.

Which region has the largest share in the global portable fire extinguisher market?

The Asia Pacific region has maintained the largest market share during the forecast period.

Select License

We Accept

Analyst support

After evaluating your requirements and addressing your technical problems, the expert analyst will resolve your query directly.

Customer satisfaction

According to your needs, our expert team will assist you with the capabilities, services, and proper research needs to be required and customize the report accordingly.

Inimitable expertise

Our expert team will create unrivaled reviews to provide you with a deep understanding of the reports.

Assured quality

We have created a systematic way to determine standards and satisfy your expectations.

Instant delivery

Unlike others, we provide you a great deal of instant delivery in the form of PDF/PPT/Word Doc directly to your email address within 24 hours after receiving full payment.

Privacy policy

We understand the inkling of your privacy, we will never misuse your email address.

Custom research service

We are giving you an opportunity through which you can directly ask our expert analyst to customize an exclusive study of the report to serve your research needs.

Quality & accuracy

We provide you with the accurate quality of the customized study of an exclusive report according to your research need.

Data visualization

As the business world’s growing faster every day, we understand the value of data management. We will create the reports by keeping all the visual data sets and metrics in the charts.

Information security

We truly respect your privacy and promise to keep your personal and confidential information safe and secure.