Portable Fire Extinguisher Market Outlook
According to the report by Expert Market Research (EMR), the Global Portable Fire Extinguisher Market Size reached a value of approximately USD 3.94 billion in 2022. Aided by the increasing awareness about fire safety norms and the rising applications of portable fire extinguishers across various industries, the market is projected to further grow at a CAGR of 6.5% between 2023 and 2028 to grow significantly by 2028.
Portable fire extinguishers are critical safety devices designed to control or extinguish small fires. They are primarily used in emergencies and are commonly found in homes, workplaces, and public places. These fire extinguishers play a pivotal role in preventing fire spread, saving lives, and safeguarding property. Besides its basic firefighting properties, portable fire extinguishers also offer benefits of easy mobility and accessibility, making them a crucial component in various commercial and industrial applications.
The growing awareness about fire safety norms is driving the global portable fire extinguisher market growth. With the increasing understanding of the catastrophic impact of fire incidents, there has been a significant shift towards the adoption of fire safety devices, leading to a surge in demand for portable fire extinguishers. Furthermore, regulatory bodies worldwide are enforcing stringent fire safety regulations, compelling residential, commercial, and industrial sectors to equip their premises with proper firefighting devices, including portable fire extinguishers.
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The expanding applications of portable fire extinguishers in various industries also play a significant role in fuelling the portable fire extinguisher market expansion. In the manufacturing sector, portable fire extinguishers are used as primary firefighting equipment to tackle fire emergencies, due to the risk of fires caused by machinery malfunctions and electrical faults. Similarly, the hospitality and healthcare industries deploy fire extinguishers to ensure the safety of their guests and patients, respectively.
Moreover, the growing construction industry, characterised by the rapid urbanisation and increasing infrastructure development projects, is fuelling the portable fire extinguisher market demand. Buildings, whether residential or commercial, must comply with safety regulations, necessitating the installation of fire extinguishers as a critical safety measure.
Furthermore, technological advancements in fire safety equipment design and functionality are further fostering the market growth. Modern portable fire extinguishers are more efficient, easier to use, and come with features such as pressure gauge indicators, safety seals, and quick-release mounting brackets. These features, coupled with the increasing public and private investments in fire safety, are boosting the portable fire extinguisher market development.
Portable Fire Extinguisher Market Segmentation
The market can be divided based on product, extinguishing agent, fire, application, and region.
Market Breakup by Product
- Portable
- Knapsack
- Wheeled
Market Breakup by Extinguishing Agent
- Dry Chemical (Powder)
- Foam
- Carbon Dioxide
- Others
Market Breakup by Fire
- Class A
- Class B
- Class C
- Class D
- Class K
Market Breakup by Application
- Residential
- Commercial
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global portable fire extinguisher companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Amerex Corporation
- Morita Holdings Corporation
- Britannia Fire Ltd.
- Johnson Controls International Plc
- Ceasefire Industries Pvt. Ltd
- Flamestop Australia Pty Ltd.
- Others
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