Portable Fire Extinguisher Market Share, Size, Trends, Industry Analysis Report, By Agent (Dry Chemical, Carbon Dioxide, Water, Foam, and Others); By File Type; By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 115
- Format: PDF
- Report ID: PM3294
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global portable fire extinguisher market was valued at USD 10.78 billion in 2023 and is expected to grow at a CAGR of 9.2% during the forecast period. The extensive surge in the number of causalities in both commercial and household premises and several stringent regulations regarding the installations of fire extinguishers across the globe coupled with the growing penetration for east-to-move and lightweight extinguishers among consumers are among the key factors propelling the market growth.
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Moreover, manufacturers of portable extinguishers are constantly trying to bring more advancements and innovations in their product offerings through making it more compact and lighter, which is estimated to bode well for the global market growth in the coming years.
For instance, in January 2021, CASP Aerospace, introduced its new environmentally-friendly portable fire extinguishers, that is UL certified. The new extinguisher is lighter than others halon extinguishers with hose and is comparatively easy to carry and allow users to directly aim to the fires also in hard-to-reach places like overhead bins or under the seats.
The growing consciousness amongst the users associated or related to their personal and property protection in emergency fire cases and rising need and prevalence to be refilled after the use, are the major emerging trends gaining traction in the market in recent years. Additionally, the rise in the number of transportation vehicles and growing popularity of integrating portable fire extinguishers in these vehicles, will further provide significant opportunities for the market in the coming years.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the portable fire extinguisher market. The spread of the deadly coronavirus worldwide have forced countries to imposed lockdown and other stringent regulations on trade activities, resulting in temporary closure of manufacturing facilities and high disruptions in the supply chain due to which, demand for fire extinguishers from industrial or commercial sector declined drastically during the pandemic.
Industry Dynamics
Growth Drivers
The rapidly growing urbanization globally, leading to the significant expansion in the construction activities in both residential and non-residential sector and increasing number of people inclining more and more towards the better safety and protection coupled with the high proliferation for safeguarding life and reduce the loss occurs due to the fire accidents, are among the major prominent factors driving the demand and growth of the portable fire extinguisher market.
Furthermore, the global fire safety landscaped is evolving highly competitive, as the number of entrants in the portable or mobile fire extinguisher is significantly expanding with the potential advancements and improvements in demand. Prominent market players are highly focusing on consolidating their market position through the adoption of effective distribution strategies, that is creating lucrative growth opportunities for the market.
Report Segmentation
The market is primarily segmented based on agent, file type, application and region.
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By Agent |
By File Type |
By Application |
By Region |
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Dry chemical segment accounted for the largest market share in 2022
The widespread use of these types of agents in the residential buildings as, it can easily tackle or combat all types of common household fires and are gaining significant traction and popularity among consumers due to its uses on class A, class B, and class C fires at relatively low prices and high versatility as compared to other agents available in the market.
The carbon dioxide segment is projected to grow at fastest growth rate during the anticipated period, which is mainly attributed continuous rise in the product demand form commercial space due to its high effectiveness in class B and class K fire types, while leaving no residue and without any kind of collateral damage.
Class B segment is expected to witness highest growth over projected timeline
The class B segment is expected to witness fastest growth throughout the forecast period. The growth of the segment can be largely attributed to increased prevalence of consumers regarding its several beneficial features in terms of its high versatility and ability to combat different fire situations. Apart from this, several government organizational bodies across the globe have imposed strict regulations on safety for commercial and residential buildings, that have been mainly stated to ensure the protection and safety of life & property in fire cases. These regulations have mandated to use different types of fire extinguishers including class B, which is accelerating the demand and growth of the segment market.
The class C segment led the industry with highest share, on account of high demand for class C fire extinguishers for various purposes including energized electrical components, chemicals, and flammable liquid fires along with the rise in the number of fire accidents due to continuous source of fire ignition worldwide have propelled the use of these safety products.
Non-residential segment held the significant market share
The non-residential segment held the significant revenue share and will expand further at a steady growth rate over the coming years. The growth of the segment market is mainly attributable to extensively increasing commercial and industrials with high industrialization especially in the emerging economies like China, India, and Indonesia coupled with the significant rise in the investments in construction of large commercial places worldwide. Moreover, governments form many countries have laid down several rules and regulations for ensuring fire safety in public areas and commercial places, which in turn, propelling the growth of the segment market.
The residential segment is likely to expand at considerable growth rate over the anticipated period, owing to increasing safety concerns among consumers, surging casualties due to the fire, and increasing property damage from these accidents. Rising consumer awareness regarding the availability of improved and advanced fire extinguishers in the market and growing focus of market players to make consumers aware towards the availability and advantages of these products, resulting in higher adoption in residential sector.
Asia Pacific region dominated the global market in 2022
The Asia Pacific region dominated the global market with healthy share, and is expected to maintain its dominance throughout the projected period. The growth of the regional market is mainly driven by continuously growing spending or investments on infrastructure development in developing nations such as China and India and growth in the industrial and commercial sectors with surging reconstruction activities along with the safety codes, that are being implemented by the governments.
Middle East & Africa region is expected to emerge as fastest growing region with a healthy growth rate over the anticipated period, due to presence of well-developed and structured infrastructure and high consumer disposable incomes in countries like US and Canada. In addition, a rise in the number of property damage cases and fire incidents in the region, are further likely to contribute towards the market growth.
Competitive Insight
Some of the major players operating in the global portable fire extinguisher market include Raytheon Technologies, Ceasefire Industries, Morita Holdings, Johnson Controls, Hochiki Corporation, Amerex Corporation, Kanex Fire, Britannia Fire, Yamato Protec, FlameStop Australia, Minimax, Fire Safety Devices, Mamta Engineering, Grap Fire Industries, and Vintex Fire Protection.
Recent Developments
- In September 2022, Pye-Barker Fire & Safety announced that they have acquired Industrial Fire and Safety Equipment in Alabama, which strengthens the company’s footprint in Birmingham, Alabama, and nearby areas. The company will be operated with some additional resources and support provided by the Pye-Barker Fire & Safety, which helps them to improve their products capabilities and offerings.
- In February 2021, Win Time Technology introduced plant-based fire extinguishing agent. The new plant based agent has been developed with milk bush, mint, & dried ginger that meets various international standards including toxic-free tests, SGS biodegradability, & heavy metal tests.
Portable Fire Extinguisher Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 11.76 billion |
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Revenue forecast in 2032 |
USD 23.77 billion |
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CAGR |
9.2% from 2024– 2032 |
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Base year |
2023 |
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Historical data |
2019– 2022 |
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Forecast period |
2024– 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Agent, By File Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Raytheon Technologies Corporation, Ceasefire Industries Pvt. Ltd., Morita Holdings Corporation, Johnson Controls International Plc, Hochiki Corporation, Amerex Corporation, Kanex Fire, Britannia Fire Ltd., Yamato Protec Corporation, FlameStop Australia Pty. Ltd., Minimax, Fire Safety Devices Pvt. Ltd., Mamta Engineering, Grap Fire Industries, and Vintex Fire Protection Ltd. |
FAQ's
key companies in portable fire extinguisher market are Raytheon Technologies, Ceasefire Industries, Morita Holdings, Johnson Controls, Hochiki Corporation, Amerex Corporation, Kanex Fire, Britannia Fire.
The global portable fire extinguisher market expected to grow at a CAGR of 9.2% during the forecast period.
The portable fire extinguisher market report covering key segments are agent, file type, application and region.
key driving factors in portable fire extinguisher market are rise in the commercial and residential constructione sources of energy.
The global portable fire extinguishers market size is expected to reach USD 23.77 billion by 2032.
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