A new market report published by Transparency Market Research titled, 'Portable Fire Extinguisher Market [Agent Type: Chemical & Powder Based, Water & Foam Based, CO2 Based, Metal Based, and Others; Fire Type: Class A, B and C, Class A and A&B, Class B&C or B, Class D, and Others; End-user: Residential, Commercial & Industrial, and Others; Distribution Channel: Online and Offline] – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027.
- In terms of volume, the global portable fire extinguisher market is expected to reach nearly 270,000.0‘000 units by 2027, expanding at a CAGR of nearly 4% during the forecast period.
- Across the world, sustained government initiatives are increasing awareness about the benefits of portable fire extinguishers among the general public. Portable fire extinguishers are almost mandatory in commercial buildings across the world.
- The Asia Pacific portable fire extinguisher market is a prominent market, followed by North America and Europe.
Global Portable Fire Extinguisher Market - Driving Factors
- Rise in both, commercial and residential construction, is increasing the demand for fire extinguishers, which subsequently is increasing the demand for portable fire extinguishers.
- In various countries across the world, the installation of portable fire extinguishers is mandatory as per government regulations. Increase in commercial establishments, factories, manufacturing plants, warehouses, etc., are increasing the demand for commercial & industrial portable fire extinguishers.
- As per the Health and Safety Executive (HSE) of the U.K. Government as per ADR regulations, vehicles weighing 3.5 tons need to carry a minimum portable dry powder fire extinguisher of 2 kg and additional 2 kg. Vehicles weighing between 3.5 tons and 7.5 tons need to carry an 8 kg dry powder portable fire extinguisher. Vehicles weighing over 7.5 tons need to carry a portable fire extinguisher of total 12 kg. The rise in the number of transportation vehicles across the world is increasing the demand for portable fire extinguishers.
Global Portable Fire Extinguisher Market - Key Challenges
- A portable fire extinguisher, when used even partially, is useless for all subsequent fire scenarios.
Request For COVID-19 Impact Analysis Across Industries - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=67220
- These fire extinguishers need to be refilled after use.
- Generally, there is a law in major countries across the world to check the quality of a portable fire extinguisher if it is unused for a period of time. If it is found that the portable fire extinguisher is unfit for future use, it must be refilled.
- All these factors restrict the penetration and growth of fire extinguishers in the global market.