The global portable fire extinguishers market size is expected to reach USD 16.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.2% over the forecast period. Growing demand for lightweight extinguishers is increasing among the consumers. Increasing number of casualties is a major factor driving the demand for portable extinguishers in the residential and commercial premises. Increasing government focus and strict mandates for safety are supporting the market growth. Growing awareness regarding safety and property protection among consumers is fueling the product demand. Growing need for compact extinguishers in automobiles is also surging the product demand.
As per the National Fire Protection Association (NFPA), in 2016, loss of 13.6 billion USD in property damage was caused due to fire incidents, resulting in death of 3,390 civilians. The Fire Extinguishing Trades Association (FETA) and Independent Fire Engineering and Distributors Association (IFEDA) conducted a study on effectiveness of portable extinguisher in 2100 fire cases in U.K. and found that in 80% of the cases, it successfully extinguished the flame and in 75% of those cases, the concerned department was not required to attend. Use of extinguishers vary on the basis of type, which, in turn is acting, as a major challenge for the market growth. Manufacturers are focusing on launching these products oriented to class A, B, and C fire types.
Dry chemical held the largest market share in 2018. It is the most commonly used extinguisher owing to its ability to extinguish class A, B, and C types. Relatively low price and versatile nature is also one of the major factors for high adoption of dry chemical portable extinguishers. It is estimated to be the fastest growing segment over the forecast period. Carbon dioxide extinguishers are estimated to witness significant growth over the forecast period. High adoption in the commercial sector, coupled with high effectiveness on class B and K types, is a major factor responsible for market growth over the forecast period.
Demand for portable extinguishers in the residential sector is increasing rapidly as compared to the non-residential sector owing to growing casualties, increasing number of property damages, and rising safety concerns among consumers. As per the National Fire Protection Association (NFPA), cooking equipment is the leading cause of home structure fire, followed by smoking materials during 2012–2016.
To request a sample copy or view summary of this report, click the link below:
Further key findings from the report suggest:
- The non-residential application segment held the largest market share in 2018 and is estimated to maintain its lead over the forecast period owing to growing commercial and industrial sectors and strict government mandates for safety
- Asia Pacific held the largest portable fire extinguisher market share in 2018 owing to growing infrastructure projects, increasing construction activities, and fire safety codes
- Middle East and Africa is estimated to be the fastest growing market in 2018 owing to recovering oil prices, growing hospitality sector, government initiatives, and revised life safety codes
- Major market players include Hochiki Corporation; Amerex Corporation; Activar Inc.; Britannia Fire Ltd.; Desautel SaS, Flamestop Australia Pty. Ltd.; Hatsuta Seisakusho Co., Ltd.; Feuerschutz Jockel Gmbh & Co. Kg; and Ceasefire Industries Pvt. Ltd.