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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 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.
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.
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.
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.
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
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:
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.
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 |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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