The new report by Expert Market Research titled, ‘Global Portable Fire Extinguisher Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global portable fire extinguisher market, assessing the market based on its segments like extinguishing agents, fire type, end use, distribution channel and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 8.6 billion
• Forecast CAGR (2021-2026): 10.8%
The market for portable fire extinguisher has seen substantial growth due to factors such as the increasing numbers of household and commercial fire causalties. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the portable fire extinguisher market. The industry is expected to develop as a result of strict government rules requiring the installation of fire extinguishers. Extinguishers that are portable, lightweight, and easy to transport are in high demand. The growing use of portable fire extinguishers in automobiles is likely to propel the market forward. As an initial response to a fire, portable extinguishers are employed to put it out. In addition, rising consumer awareness of personal safety and property security in emergency scenarios is fueling demand for the portable extinguisher.
Industry Definition and Major Segments
Portable fire extinguishers are used to spread extinguishing agent to cool burning fuel and should be selected based on the material and fuel being burned. Portable fire extinguishers are typically chosen depending on whether they comply with Osha guidelines and its rating system, which categorizes extinguishers according to the amount of cooling agent they contain.
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Based on the extinguishing agents, the industry is divided into:
• Dry Chemical Based
• Foam Based
• Carbon Dioxide Based
• Water Based
• Metal Based
Based on the fire type, the industry is divided into:
• Class A, B and C
• Class A and A&B
• Class B&C or B
• Class D
Based on the end use, the industry is divided into:
• Commercial and Industrial
Based on the distribution channel, the industry is divided into:
The regional markets for portable fire extinguisher include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Global urbanisation is accelerating, resulting in a rise in residential and non-residential construction. People are also leaning towards safety and security as a result of this. The portable fire extinguisher market is expected to increase as a result of all these causes. In addition, the government is taking several initiatives to raise awareness about the need for portable fire extinguishers across all industries, which is helping to grow the portable fire extinguisher market. The necessity for people to utilise portable fire extinguishers arises from the desire to protect lives and decrease accidental property loss caused by fire. Another factor for the rising need for portable fire extinguishers is industrialization and commercialization. Portable fire extinguishers are significantly easier to use and handle than traditional fire extinguishers, which has resulted in a surge in demand. To meet the growing demand for portability, manufacturers of portable fire extinguishers are attempting to improve the product by making it more compact and lightweight. Installing portable fire extinguishers in educational establishments, school buses, public transportation, hospitals, and many other places throughout the world is a key trend in this industry.
Key Market Players
The major players in the market are Amerex Corporation, Morita Holdings Corporation, Britannia Fire Ltd, Johnson Controls International Plc, Ceasefire Industries Pvt. Ltd, Fest Fire Security, Flamestop Australia Pty. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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