Portable Fire Extinguisher Market 2019 | Size, Latest COVID-19 Impact Analysis, Growth, Demand, Opportunities & Forecast To 2027
The fire protection industry has always, and will continue to, bank on fire extinguishers as the bedrock upon which a complete fire protection strategy is developed and executed. Being an intangible service and security, fire protection is undergoing constant advancements, and fire extinguishing technologies are constantly being enhanced. However, the lack of confidence among end users regarding the use and installation of conventional fire extinguishers is leading to a drastic change in the strategic outlook for manufacturers in the fire protection industry.
The sea of evolution in the fire safety landscape, in general, and the portable fire extinguisher market, in particular, are too important to be overlooked. Transparency Market Research, in its new research, lays bare the undercurrents that are likely to remain instrumental in the development of this landscape in the future.
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Portable Fire Extinguishers: The First Line of Defense is Convenience
End-user perception about portable fire extinguishers is changing, as convenience drives the launch of new products. The rapidly-transforming fire industry is weighing fire safety and ease of using fire extinguishers on the same scale. Manufacturers have responded by leveraging the prowess of automation technology, along with equipping their offerings with portable components. End-users’ need to fight new fire hazards dictated by modern technologies while minimizing the risk of damage to life and property is pushing manufacturers to ring in the changes, and simplify the designs of portable fire extinguishers to facilitate ease of use with greater efficiency.
How the Portable Fire Extinguisher Market is Shaping Up
In the United States alone, property loss caused by fires increased from over US$ 14 billion in 2007 to around US$ 23 billion in 2017. The collective effort towards minimizing the number of international fire incidents has instigated a spurt in the adoption of fire extinguishers and other types of fire protection equipment.
In addition, governments across the world have been formulating strict rules that are boosting the sales of portable fire extinguishers. The portable fire extinguisher landscape recorded a sales of over US$ 52 billion in 2018, and the stringent regulatory environment is expected to continue to underpin the penetration of portable fire extinguishers in the coming years.
Impact of Undercurrents on Market Trends
Over 6 in 10 portable fire extinguishers are sold in the commercial and industrial sectors. Leading companies are incorporating tech-driven manufacturing strategies to foray into the most rugged industrial areas, such as mining, oil & gas, and waste management, where the risk of fire loss is the highest. Product design and development strategies are heavily impacted by the need for portable fire extinguishers so as to withstand harsh environments and severe corrosion conditions in these end-user segments.
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With governing bodies in developing countries amassing to implement strict fire safety regulations for the residential sector, product penetration is projected to reach new heights in housing estates and condominiums. TMR’s study opines that, increasing growth of the construction industry and growing number of skyscrapers will create new business opportunities for manufacturers in the residential sector, in the coming future.
Manufacturers are also concentrating their efforts toward launching products that can be used for multiple types of fires, as it is impossible for any market player to launch a universal portable fire extinguisher. In lines with this, dry chemicals & powders and carbon dioxide are witnessing higher demand over water jet and foam-based agents in portable fire extinguishers. Manufacturers are adopting strategies to cater to the growing demand for chemical- and powder-based portable fire extinguishers that can be used in Class A, B, and C types of fire incidents.
Success Strategies for Enhancing Regional Stronghold
The fire safety landscape is becoming highly competitive, as the number of new entrants in the portable fire extinguisher market is multiplying with the potential rise in demand. Industry leaders are focusing on consolidating their position by adopting effective distribution strategies, especially to expand their geographical footprint. Prominent players in the portable fire extinguisher space are competing to maintain their lead by collaborating with or acquiring small portable fire extinguisher players in regional markets.
According to TMR, in 2018, offline distribution channels accounted for the sales of around 9 in 10 portable fire extinguishers, worldwide. However, this also means that, the e-Commerce industry is far from saturation, and online distribution channels are expected to gain center stage in market players’ sales strategies. Mature markets for portable fire extinguishers, such as the European Union, Japan, and North America, are showing positive signs of growth, gobbling a sizeable share among total retail sales through online distribution channels.
Analysis on the Competitive Landscape
The portable fire extinguishers market is a fairly fragmented landscape, with a growing number of new players and start-ups emerging and gaining momentum in domestic fire protection equipment sectors. Leading participants in the market such as Morita Miyata Corporation, Johnson Controls International Plc., Hochiki Corporation, United Technologies Corporation, and Gunnebo AB account for a collective revenue share of around 20-25% in the global market.
Frontrunners are putting the portable fire extinguisher market on an innovation spin, and competing on technologically-advanced features to lead the rally. Mid-level market players such as Amerex Corporation, Yamato Protec Corporation, and Naffco Fazco are expanding their presence in regional markets to strengthen their product penetration across the world. Meanwhile, small companies and new entrants such as Britannia Fire Ltd., Flamestop Australia Pvt ltd., and Ceasefire Industries Pvt ltd. are capturing a significant share of the market by launching cost-effective products in domestic markets.
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Analysts’ Viewpoint on the Portable Fire Extinguisher Market
Fires can cost businesses and industries billions of dollars in losses, and acquiring efficient equipment to fight fires, mitigating the risk of property loss, and improving employee safety have become an inevitable part of business operations for end users. In addition, strict government regulations vis-Ă -vis fire safety have been providing a fillip to the sales of portable fire extinguishers, not only in the commercial and industrial landscape, but also in the residential sector. The portable fire extinguisher market is growing as a stable business area for stakeholders and investors. In the coming years, market leaders are likely to experience pressure to improve in terms of product efficiency and lifespan.Â
Fire Extinguisher Market: Definition/Overview
- A fire extinguisher is a device that discharges a jet of water, foam, gas, or other material to extinguish a fire. Portable fire extinguishers are fire extinguishers that can be easily moved from one place to another, and can be used by consumers with ease.
- The rise in the awareness about portable fire extinguishers is increasing, globally. Governments across the world are sensitizing institutions about the usefulness of portable fire extinguishers in their institutions.
- A trend seen in developing countries, such as India, is the installation of portable fire extinguishers even in school vans.
- For example, EuroKids, a pre-school in India, has sensitized school vans for the installation of portable fire extinguishers for the safety of school children travelling in these vans. Thus, it is seen that, the penetration of portable fire extinguishers is increasing across various sectors in India and across the world.
Global Portable Fire Extinguisher Market: Regional Overview
- Asia Pacific is a very prominent portable fire extinguisher market, both, in terms of value and volume. China is a prominent market for portable fire extinguishers in Asia Pacific, followed by Japan and India.
- The expansion of the economy in China is boosting the demand for portable fire extinguishers across hotels, food service restaurants, hospitals, public places, educational institutions, government buildings, and various other places that have potential fire risks.
- Japan is a developed country, and portable fire extinguishers have been used in the country for a long time.
- In India, as per the Fire & Safety India report, with an increase in economic growth and urbanization, the share of fire-related deaths among the total natural and unnatural deaths is approximately 6.0% in India, which has increased at the rate of 18.0% over the last six years. All these factors are increasing the demand for portable fire extinguishers in India.
Global Portable Fire Extinguisher Market: Trends
- Increasing awareness about the need for portable fire extinguishers is seen across the world. Governments are sensitizing institutions about the usefulness of portable fire extinguishers in their institutions.
- A trend seen in developing countries such as India is the installation of portable fire extinguishers even in school vans. For example, EuroKids, a pre-school in India, has sensitized school vans for the installation of portable fire extinguishers for the safety of the school children that are travelling in these vans.
Global Portable Fire Extinguisher Market: Drivers and Opportunities
- Globally, the construction of new buildings, both, commercial and residential, is rising. According to regulations in most developed and developing countries, portable fire extinguishers are mandatory in almost all newly constructed residential buildings, commercial establishments, and restaurants. Thus, the rise in building construction is increasing the demand for portable fire extinguishers.
- As per an investor presentation of Japan-based portable fire extinguisher manufacturer Morita Group, the demand for portable fire extinguishers is expected to increase, since the installation of fire extinguishers becomes mandatory in small-scale restaurants in Japan.
- In most countries, transportation vehicles that carry inflammable and hazardous substances are mandated to carry portable fire extinguishers, as per law.
- Increase in the number of transportation vehicles across the globe is surging the demand for portable fire extinguishers.
Global Portable Fire Extinguisher Market: Key Segments
The study provides a conclusive view of the global portable fire extinguisher market by segmenting it in terms of agent type, fire type, end user, distribution channel, and region
- Agent Type
- In terms of agent type, the global portable fire extinguisher market has been classified into chemical & powder based, water & foam based, CO2 based, metal based, and other types of agents used in a portable fire extinguishers, such as clean agents, greased fire-based extinguishers, sprinklers, etc.
- Fire Type
- In terms of fire type, the global portable fire extinguisher market is segmented into Class A, B, and C, Class A and A&B, Class B&C or B, Class D, and others such as Class A&C, Class F, Class K, Class A& K, and Class B&F.
- End User
- In terms of end user, the global portable fire extinguisher market is segmented into residential, commercial & industrial, and other end-use industries using portable fire extinguishers.
- Distribution Channel
- The global portable fire extinguisher market has been bifurcated into online and offline channels selling portable fire extinguishers.
- Region
- By region, the global portable fire extinguisher market is divided into North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and South America. The regional portable fire extinguisher markets are further broken down into country-level markets in the following geographies: the U.S., Canada, Germany, the U.K., France, China, Japan, India, GCC, South Africa, and Brazil.
Global Portable Fire Extinguisher Market: Competition Landscape
The global portable fire extinguisher market is fragmented due to a large number of market players. The report highlights major companies operating in the global portable fire extinguisher market, which includes Morita Holdings Corporation, Amerex Corporation, Britannia Fire Ltd, Johnson Controls International Plc., United Technologies Corporation, Ceasefire Industries Pvt. Ltd, Fest Fire Security, Feuerschutz Jockel GmbH & Co. KG, Fike Corporation, and Flamestop Australia Pty. Ltd.
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