August 5, 2020

Portable Fire Extinguisher Market Analysis Highlights the Impact of COVID-19 (2020-2030) | Launch Of Innovative Products to Boost Market Growth | insightSLICE

Expanding residential and commercial infrastructure, rising awareness regarding fire safety, and development in portable fire extinguisher are the key forces driving the growth of global portable fire extinguisher market. Being a critical component of fire safety and emergency response system, fire extinguishers plays a vital role in ensuring fire safety across residential, commercial and industrial facilities. A portable fire extinguisher is a part of the first and quick response to different types of fires. The demand for portable fire extinguishers has increased significantly during past decade due to increasing incidences of accidental fires. The Global Portable Fire Extinguisher Market was worth US$ 8.6 billion in 2019.

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The government authorities are emphasizing on increasing the deployment of fire extinguishers per facility to enhance the first response to accidental fires. This is anticipated to drive the growth of portable fire extinguisher market in coming years. Expansion of residential and commercial infrastructure across the developing countries is expected to offer prominent opportunities to portable fire extinguisher manufacturers during the forecast period. The manufacturers of fire extinguishers are focusing on development of portable and compact fire extinguishers with Class A, B, and C fire extinguishing capability. This is anticipated to fuel the growth of the global portable fire extinguisher market in coming years.

High versatility offered by dry chemical fire extinguishers to fuel growth of portable fire extinguisher market

The global portable fire extinguisher market is segmented on the basis of product type, end use, and geography. Based on product type, the global portable fire extinguisher market is segmented into dry chemical, carbon dioxide, water, foam, and others. The dry chemical extinguishers contributed a dominating share to the global portable fire extinguisher market in 2019 and are expected to witness prominent growth during the forecast period owing to adoption across residential, commercial and industrial applications. The dry chemical fire extinguishers are capable to extinguish Class A, B, and C fire types and are affordable. This has fuelled the adoption of dry chemical fire extinguishers across several end use verticals. The carbon dioxide extinguishers are expected to grow significantly during the forecast period owing to rising adoption across commercial and industrial applications.

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Expanding industrial infrastructure and rising awareness to fuel market growth

Based on end use, the global portable fire extinguisher market is segmented into residential, commercial and industrial. The industrial application of portable fire extinguishers contributed a prominent share to the global market and is expected to witness prominent growth during the forecast period. Expansion of industrial infrastructure and implementation of stringent safety regulations are expected to fuel market growth in coming years. The residential application of portable fire extinguishers is expected to be the fastest growing segment during forecast period owing to increasing demand fuelled by rapid construction activities globally.

Based on geography, the global portable fire extinguisher market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed the largest share to the global portable fire extinguisher market in 2019 owing to increased adoption fuelled by stringent regulations and increasing number of fire incidences across the United States and Canada. Asia Pacific is expected to offer prominent opportunities to portable fire extinguisher manufacturers in coming years owing to expanding residential and commercial infrastructure and rising awareness across emerging countries.

Major players active in the global portable fire extinguisher market include Activar Inc., Amerex Corporation, Britannia Fire Ltd., Ceasefire Industries Pvt. Ltd., Desautel SaS, Fest Fire Security, Feuerschutz Jockel Gmbh & Co. Kg, Fike Corporation, Flamestop Australia Pty. Ltd., Hatsuta Seisakusho Co., Ltd., Hochiki Corporation, Johnson Controls International Plc., Morita Holdings Corporation, United Technologies Corporation, and Yamato Protec Corporation.

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