Portable Fire Extinguisher Market Size 2024-2028
The portable fire extinguisher market size is forecast to increase by USD 1.93 billion at a CAGR of 7.44% between 2023 and 2028.
- The market is witnessing significant growth, driven by the increasing implementation of stringent fire safety regulations across various industries and sectors. These regulations mandate the use of portable fire extinguishers as essential safety equipment, thereby fueling market demand. Furthermore, the rising number of mergers and acquisitions (M&A) In the fire safety industry is leading to the consolidation of market players and the introduction of advanced and innovative fire extinguisher technologies. This market caters to the safety needs of individuals and businesses across diverse sectors, including construction activities, industrial projects, machinery operations, and vehicle applications. Portable fire extinguishers come in various types, such as foam, dry powder, and carbon dioxide, with ergonomic nozzles designed for ease of use. However, the market is not without challenges, as fluctuating raw material prices pose significant risks to manufacturers, potentially impacting their profitability and competitiveness. Companies seeking to capitalize on market opportunities and navigate challenges effectively must focus on cost management, technological innovation, and strategic partnerships to remain competitive in this dynamic market.
What will be the Size of the Portable Fire Extinguisher Market during the forecast period?
- The market encompasses the production and distribution of lightweight and compact firefighting devices designed for use on small fires involving various classes of flammable materials, including Class A fires involving ordinary combustibles, Class B fires involving flammable liquids, Class C fires involving electrical equipment, and Class D fires involving flammable metals. The growing awareness of fire safety measures and the increasing demand for first response tools for personal safety and property protection against fire hazards are driving the market's expansion.
- The market's growth is fueled by the increasing prevalence of flammable materials and the need to mitigate potential fire causalities, property damage, and the risk of death of civilians. Summing up, the market is a dynamic and growing industry, providing essential firefighting tools for businesses and individuals to ensure safety and protect assets against the threat of fire.
How is this Portable Fire Extinguisher Industry segmented?
The portable fire extinguisher industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
- Distribution Channel
- Offline
- Online
- End-user
- Residential
- Commercial
- Industrial
- Geography
- North America
- US
- APAC
- China
- India
- Europe
- Germany
- UK
- South America
- Middle East and Africa
- North America
By Distribution Channel Insights
The offline segment is estimated to witness significant growth during the forecast period. The market caters to individuals and businesses in various sectors, including fire safety during construction activities, industrial projects, and machinery and electrical equipment usage. Portable fire extinguishers are essential fire safety measures for vehicles, commercial spaces, and residential settings. The market comprises different classes of fire extinguishers, such as Class A for wood, paper, and cloth fires, Class B for flammable liquids, Class C for electrical fires, and Class D for metal fires. The market demand is driven by the need for first response, personal safety, and property protection, with the potential for significant property damage and loss of civilian lives in case of fire incidents.
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The offline segment was valued at USD 1.92 billion in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market for portable fire extinguishers is significant due to increasing fire safety awareness and regulatory mandates. In the US and Canada, fire safety regulations, such as those set by the National Fire Protection Association (NFPA), require end-users to utilize appropriate portable fire extinguishers In their facilities. This demand is further fueled by the construction of new residential buildings in countries like Canada, where there is a need for an additional 100,000 new homes annually to address housing shortages. Portable fire extinguishers are essential firefighting tools for various end-users, including individuals, businesses, construction activities, industrial projects, machinery, electrical equipment, and vehicles.
Market Dynamics
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
What are the key market drivers leading to the rise In the adoption of Portable Fire Extinguisher Industry?
- Implementation of stringent fire safety regulations is the key driver of the market. The adoption of portable fire extinguishers has witnessed significant growth in developed regions due to stringent fire safety regulations. In North America and Western Europe, the increasing number of fire accidents in commercial and industrial sectors has led safety authorities to introduce regulations and practices to minimize fire damage. These measures include occupancy limits, electrical codes, and proper placement and maintenance of fire extinguishers and alarms.
- As a result, the demand for portable fire extinguishers has risen In these regions over the past few years. This trend is expected to continue due to the importance of fire safety in protecting lives and property.
What are the market trends shaping the Portable Fire Extinguisher Industry?
- Rising number of mergers and acquisitions (M and A) is the upcoming market trend. The market is experiencing notable expansion due to the rise in technological innovations and mergers and acquisitions (M&A). Companies are leveraging strategic M&A and collaborations to enhance their product offerings and boost profitability. These deals involve capital investments for new product development or the acquisition of other service providers. For example, in April 2022, Resideo Technologies finalized the acquisition of First Alert, Inc., a leading provider of home safety solutions.
- This move is expected to strengthen Resideo's position In the market and broaden its product portfolio. The market growth is driven by the increasing demand for advanced portable fire extinguishers that offer improved safety and ease of use.
What challenges does the Portable Fire Extinguisher Industry face during its growth?
- Fluctuating raw material prices is a key challenge affecting the industry growth. Portable fire extinguishers are essential safety devices, manufactured primarily from aluminum and steel. Raw material prices, particularly for steel and aluminum, have experienced volatility over the past decade. Factors contributing to this include taxes, duties, and tariffs, as well as production disruptions in metal ore-producing countries.
- These fluctuations significantly impact companies' profit margins, as the cost of raw materials represents a substantial portion of their total spending. Unforeseen changes in raw material prices can pose challenges to portable fire extinguisher manufacturers, affecting their profitability, operating income, and cash flow.
Exclusive Customer Landscape
The portable fire extinguisher market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the portable fire extinguisher market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, portable fire extinguisher market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Activar Inc.
- Anaf Fire Protection SpA
- Bavaria Fire Fighting Solutions
- Britannia Fire Ltd.
- Buckeye Fire Equipment Company
- Carrier Global Corp.
- Ceasefire Industries Pvt. Ltd.
- Dragerwerk AG and Co. KGaA
- Feuerschutz Jockel GmbH and Co. KG
- Gunnebo AB
- H3R Aviation Inc.
- Hatsuta Seisakusho Co Ltd.
- Johnson Controls International Plc.
- McWane Inc.
- Morita Holdings Corp.
- Resideo Technologies Inc.
- Robert Bosch GmbH
- Rusoh Inc
- Safelincs Ltd.
- Yamato Protec Corp.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Research Analyst Overview
The market encompasses a vital segment of the fire safety industry, catering to the needs of individuals and businesses across various sectors. This market plays a crucial role in ensuring fire safety measures are in place for construction activities, industrial projects, and the operation of machinery and electrical equipment. The use of portable fire extinguishers is essential in managing small fires and preventing them from escalating into larger, more destructive blazes. Fire safety is a paramount concern for all types of settings, including commercial spaces, residential places, and public areas. The presence of flammable materials, fire hazards, and the potential for accidents necessitates the implementation of effective fire suppression systems.
In addition, portable fire extinguishers serve as an essential firefighting tool, enabling first responders and individuals to take immediate action In the event of a fire. The environmental impact of fire incidents is a significant concern, and the use of portable fire extinguishers can help minimize damage to property and potentially save lives. The various classes of fire, such as Class A fires involving ordinary combustibles, Class B fires involving flammable liquids, Class C fires involving electrical equipment, and Class K fires involving cooking oils, necessitate the use of specific firefighting agents. Portable fire extinguishers come in various types, including those using dry chemicals, carbon dioxide, water, foam, and dry powder.
Furthermore, these agents are designed to react chemically with the fire to suppress it or deprive it of oxygen. The design of these devices includes essential components such as a nozzle, hose, handle, and lever, enabling easy and effective use. Regulatory mandates and safety concerns have led to the widespread adoption of fire protection systems, including fire sprinkler systems, in commercial buildings and residential complexes. However, portable fire extinguishers remain an essential component of fire safety measures, offering convenience, versatility, and adaptability in various environments. The market for portable fire extinguishers is driven by the increasing awareness of fire safety and the need for effective fire suppression technologies.
Moreover, innovative products are continually being developed to improve the efficiency, reliability, and product quality of portable fire extinguishers. These advancements include intelligent features such as automation activation systems, sensors, and real time monitoring, enhancing safety and ensuring optimal response in emergency situations. The demand for portable fire extinguishers is diverse, with applications in offices, schools, manufacturing plants, warehouses, construction sites, and public buildings. The versatility of these devices, combined with their mobility and accessibility, makes them an indispensable tool for firefighting and fire prevention initiatives. The market for portable fire extinguishers is characterized by competition among various manufacturers and suppliers, each offering products with unique features and benefits. Furthermore, the market dynamics are influenced by factors such as product design, discharge mechanisms, fire detection systems, and safety regulations.
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Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
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Market growth 2024-2028 |
USD 1.93 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.4 |
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Key countries |
US, China, UK, Germany, and India |
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Competitive landscape |
Leading Companies, market growth and forecasting, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What are the Key Data Covered in this Portable Fire Extinguisher Market Research and Growth Report?
- CAGR of the Portable Fire Extinguisher industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across North America, APAC, Europe, South America, and Middle East and Africa
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the portable fire extinguisher market growth of industry companies
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