A portable fire extinguisher is any portable device that includes liquid, powder, or gases for reducing or extinguishing fires. It operates by releasing an extinguishing substance that is designed to cool the fuel, replace oxygen, or stop the chemical reaction. It is only utilized when the fire is minor, localized, and does not involve highly combustible materials.
Sizing and Forecast
The portable fire extinguisher market size has grown strongly in recent years. It will grow from $7.54 billion in 2023 to $8.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to stringent fire safety regulations, industrial growth, commercial infrastructure development, stringent fire safety regulations, increasing urbanization.
The portable fire extinguisher market size is expected to see strong growth in the next few years. It will grow to $11.16 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to smart fire safety solution, renewed emphasis on residential safety, e-commerce growth, rising construction activities, global climate changes. Major trends in the forecast period include strategic partnerships, technological advancements, IoT integration for monitoring, environmentally friendly extinguishing agents, advanced fire detection technologies.
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Segmentation & Regional Insights
The portable fire extinguishers market covered in this report is segmented –
1) By Agent Type: Chemical-based, Water-based, CO2-based, Metal-based, Powdered-based, Foam-based.
2) By Fire Type Outlook: Class A, Class B, Class C, Class D, Class K.
3) By Distribution Channel: Online, Offline.
4) By Application: Residential, Industrial, Manufacturing, Construction, Warehouse, Factories, Commercial, Vehicles.
Asia-Pacific was the largest region in the portable fire extinguisher market in 2023. The regions covered in the portable fire extinguisher market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the number of transportation vehicles is expected to propel the growth of the portable fire extinguisher market going forward. Transportation vehicles are designed and used to transport people, goods, or both from one location to another. Portable fire extinguishers are used as safety measures in many vehicles like buses, coaches, and minibuses to help combat fires on board. Also, it is mandatory for the government in a few countries to install portable fire extinguishers in those vehicles that carry or transport inflammable material to improve road safety. For instance, in January 2023, according to the National Automobile Dealers Association (NADA), a US-based trade organization, there were 13.7 million new light-vehicle sales in the United States, with 14.6 million new light-vehicle sales expected in 2023, representing a 6.6% increase above 2022 predictions. Therefore, the rise in the number of vehicles is driving the growth of the portable fire extinguisher market.
Key Industry Players
Major companies operating in the portable fire extinguisher market report are Hochiki Corporation, Raytheon Technologies Corp, Johnson Controls International PLC, Morita Holdings Corporation, Nationwide Fire Extinguishers, Minimax GmbH & Company KG, Britannia Fire, Ansul, First Alert Inc., Kidde Fire Systems, Yamato Protec Corporation, Ceasefire Industries Pvt Ltd., Desautel, Amerex Corporation, Activar Construction Products Group, Tyco Fire Products LP, Jorgensen Co, FlameStop Australia Pty. Ltd., Kanex Fire, JL Industries Inc., Safelincs Ltd., Fireboy-Xintex, Safety Technology International Inc. (STI), Strike First Corporation, Buckeye Fire Equipment, Badger Fire Protection, Elide Fire USA, Feuerschutz Jockel GmbH & Co KG, Hatsuta Seisakusho Co Ltd., Fest Fire Security
The portable fire extinguisher market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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