According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Portable Fire Extinguisher Market (Type: Water, Powder, Foam, Chemical, CO2, and Others (Clean Agent etc.); Fire Type: Class A, Class B, Class C, Class D, and Class K; End-use: Residential, Commercial, Industrial, and Public Places; Distribution Channel: Online and Offline) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027,’ the global potable fire extinguisher market is expected to reach US$ 25.6 Bn by 2027 and expand at a CAGR of 5.6% from 2019 to 2027.
The global portable fire extinguisher market was valued at US$ 15,895.9 Mn in 2018 and is expected to expand at a CAGR of 5.6% from 2019 to 2027. Increasing awareness about fire safety is expected to boost the global market of portable fire extinguishers in the near future.
North America held a prominent share in the global portable fire extinguisher market in 2018 followed by Europe and Asia Pacific
Asia Pacific is expected to be a key upcoming market for portable fire extinguishers during the forecast timeframe. Significant expansion of construction industries and stringent government regulations are anticipated to be the key factors driving the growth of the portable fire extinguisher market in this region.
Growing demand for portable fire extinguishers from industries such as manufacturing, utilities, petrochemical, mining, oil & gas exploration, energy & power, automotive, and construction is anticipated to drive the market
A number of developed as well as developing, regions such as North America, Asia Pacific, and Europe have implemented stringent regulations, which mandate the installation of portable fire extinguishers at industrial, residential, and commercial places. Strict regulations are imposed by various regulatory bodies for the implementation of fire safety procedures, thereby making it mandatory for organizations to use portable fire extinguishers at workplaces, which consequently increases the demand for portable fire extinguishers.
Reconstruction activities and implementation of building safety codes against fire are assessed to positively influence market growth
A portable fire extinguisher needs to be refilled after use. Generally, major countries across the world have a law to check the quality of a portable fire extinguisher if unused for a period of time. If it is found that the portable fire extinguisher is unfit for future use, it must be refilled for future use. All these factors restrict the penetration and growth of fire extinguishers in the global market.
In terms of type, powder portable fire extinguishers are mostly preferred as powder portable fire extinguishers are suitable for Class A, Class B, Class C, Class D, and electrical fire type
In terms of fire type, Class A fire type is the major segment and is anticipated to dominate the market during the forecast period, followed by Class B fire type. Class A contributes major share to the portable fire extinguisher market and is anticipated to expand at a CAGR of 5.5% during the forecast period.
Based on end-user, the commercial segment dominates the market
In terms of distribution channel, the offline distribution channel is expected to be the most attractive segment during the forecast period due to the preference of consumers toward offline shopping.
In terms of region, North America holds a major share of the global portable fire extinguisher market, followed by Europe. Across Europe, governments have mandated strict regulations related to installation of portable fire extinguishers in public places.
Awareness about fire safety and rising infrastructural activities are expected to increase the market attractiveness of portable fire extinguishers worldwide during the forecast timeline.
The portable fire extinguisher market is dominated by several players who are focused on the development of new products to cater to the rising demand for the product in the market.
The report includes the below mentioned pointers of major players operating in the portable fire extinguisher market:
Market Share Analysis (2018)
Product Comparison Analysis
Business Strategies / Recent Developments
Key mergers and acquisitions
Morita Holdings Corporation
Britannia Fire Ltd
Johnson Controls International Plc.
United Technologies Corporation
Ceasefire Industries Pvt. Ltd
Fest Fire Security
Feuerschutz Jockel GmbH & Co. KG
Flamestop Australia Pty. Ltd.