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.
For full research report on Portable Fire Extinguisher Market visit here:
https://www.grandviewresearch.com/industry-analysis/portable-fire-extinguisher-market
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.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/portable-fire-extinguisher-market/request/rs1
Grand
View Research has segmented the global portable fire extinguishers market on
the basis of product type, application, and region:
Portable
Fire Extinguishers Product Type Outlook (Revenue, USD Million, 2015 -
2025)
- Dry
Chemical
- Carbon
Dioxide
- Water
- Foam
- Others
Portable
Fire Extinguishers Application Outlook (Revenue, USD Million, 2015 - 2025)
- Residential
- Non-residential
Portable
Fire Extinguishers Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- Japan
- Central
& South America
- Brazil
- Middle
East & Africa
- Saudi
Arabia
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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