Global Portable Fire Extinguisher Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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The portable fire extinguisher market has experienced robust growth, advancing from $7.54 billion in 2023 to $8.22 billion in 2024, reflecting a considerable compound annual growth rate (CAGR) of 8.9%. The growth in the historical period is attributed to stringent fire safety regulations, industrial growth, commercial infrastructure development, increasing urbanization, and the emphasis on fire safety measures. Expecting strong growth momentum, the market is poised to reach $11.16 billion in 2028, with a CAGR of 8.0%. The projected growth is linked to the adoption of smart fire safety solutions, renewed emphasis on residential safety, the growth of e-commerce, rising construction activities, and the impact of global climate changes. Significant trends in the forecast period include strategic partnerships, technological advancements, IoT integration for monitoring, the use of environmentally friendly extinguishing agents, and the implementation of advanced fire detection technologies.
The rise in the number of transportation vehicles is expected to propel the growth of the portable fire extinguisher market going forward. Designed for transporting people or goods, transportation vehicles require safety measures like portable fire extinguishers, mandatory in some countries to enhance road safety, particularly for vehicles carrying inflammable materials. Notably, in January 2023, the National Automobile Dealers Association (NADA) reported 13.7 million new light-vehicle sales in the United States, with expectations of 14.6 million new sales in 2023, reflecting a 6.6% increase over 2022 predictions. Therefore, the burgeoning vehicle numbers drive the portable fire extinguisher market. Market assessments for 2023 illustrate significant growth potential in the portable fire extinguisher segment, driven by increased vehicle production. Forecasts for 2024 and beyond anticipate sustained market expansion, supported by stringent safety regulations and growing awareness of fire safety measures in transportation.
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What Are The Key Trends That Influence Portable Fire Extinguisher Market Share Analysis?
Major companies operating in the portable fire extinguisher market are focused on innovating new products to sustain their position in the market. For instance, in January 2021, CASP Aerospace, a Canada-based product design company, launched the Halotron BrX (stabilized 2-BTP)-filled 375H673 portable fire extinguisher. This new-generation portable aircraft fire extinguisher with a hose is ecologically friendly and suitable for new construction and retrofit installations. It features a bracket that is 16G-rated and has the same hole pattern as the bracket for the extinguishers’ previous model, the B722538. Users may concentrate their firefighting efforts directly on blazes in confined spaces, such as beneath seats or within overhead bins, with the flexible hose attachment. The 375H673 covers the void left by other 2-BTP-loaded extinguishers that can only be purchased with a nozzle attachment.
Which Market Players Are Driving Growth In The Portable Fire Extinguisher Market?
Major companies operating in the portable fire extinguisher market report are Hochiki Corporation, Raytheon Technologies Corp, Johnson Controls International PLC, Morita Holdings Corporation, Nationwide Fire Extinguishers, Minimax GmbH & Company KG, Britannia Fire, Ansul, First Alert Inc., Kidde Fire Systems, Yamato Protec Corporation, Ceasefire Industries Pvt Ltd., Desautel, Amerex Corporation, Activar Construction Products Group, Tyco Fire Products LP, Jorgensen Co, FlameStop Australia Pty. Ltd., Kanex Fire, JL Industries Inc., Safelincs Ltd., Fireboy-Xintex, Safety Technology International Inc. (STI), Strike First Corporation, Buckeye Fire Equipment, Badger Fire Protection, Elide Fire USA, Feuerschutz Jockel GmbH & Co KG, Hatsuta Seisakusho Co Ltd., Fest Fire Security
How Is The Global Portable Fire Extinguisher Market Segmented?
The portable fire extinguishers market covered in this report is segmented –
1) By Agent Type: Chemical-based, Water-based, CO2-based, Metal-based, Powdered-based, Foam-based.
2) By Fire Type Outlook: Class A, Class B, Class C, Class D, Class K.
3) By Distribution Channel: Online, Offline.
4) By Application: Residential, Industrial, Manufacturing, Construction, Warehouse, Factories, Commercial, Vehicles.
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The Portable Fire Extinguisher Global Market Report 2024 provides an overview of the portable fire extinguishermarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The portable fire extinguisher market forecast analyzes portable fire extinguisher market size, portable fire extinguisher market share, leading competitor and their market positions.
The Table Of Content For The Portable Fire Extinguisher Market Include
1. Portable Fire Extinguisher Market Executive Summary
2. Portable Fire Extinguisher Market Segments
3. Portable Fire Extinguisher Market Size And Template Market Growth Rate
4. Key Portable Fire Extinguisher Market Trends
5. Major Portable Fire Extinguisher Market Drivers
……
25. Key Mergers And Acquisitions In The Portable Fire Extinguisher Market
26. Top Portable Fire Extinguisher Companies
27. Portable Fire Extinguisher Market Opportunities And Strategies
28. Portable Fire Extinguisher Market, Conclusions And Recommendations
29. Appendix
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