Portable Fire Extinguishers Market Size Worth $23.77 Billion By 2032 | CAGR: 9.2%

Portable Fire Extinguishers Market Size Worth $23.77 Billion By 2032 | CAGR: 9.2%

The global portable fire extinguishers market size is expected to reach USD 23.77 billion by 2032, according to a new study by Polaris Market Research. The report “Portable Fire Extinguishers 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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising obligatory government guidelines regarding the installation of extinguishers globally and continuous surge in the consumer awareness towards their personal and property protection and safety in dangers occur by fire, are pushing the global market forward at significant pace. Moreover, surge in the demand for automobiles for both commercial and personal use across the globe has fueling the demand for the product, as authorities have mandated the installation of lightweight portable fire extinguishers in vehicles, thus manufacturers are also focusing on introducing lighter and more compact products, which is influencing the market.

For instance, in May 2022, Bharati Fire, introduced its latest lithium-ion battery fire extinguisher named FIREFITE LITHEX FIRE EXTINGUISHER. It is mainly designed for EV battery fires that consists AVD fire extinguishing agent, which used portable and fixed delivery techniques to combat the fires.

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Ongoing technological advancements and investments in infrastructure developed across the Western Europe are projected to grow significantly, as countries like Sweden and Norway have imposed several laws and regulations regarding the use of fire extinguishers especially for residential purposes. Moreover, aggressive marketing strategies that are being opted by key industry players in the region to gain consumer attention and make them more aware is further making positive impact on the market.

Aside from the necessity of complying with several types of local regulations being introduced by governments, there are many other reasons or factors due to which portable fire extinguishers are aging high popularity and traction including acting as an excellent choice for organizations to ensure that their staff are safe, as it is very tiny and easy to use so, most of the employees will be able to utilize it in critical situations.

Portable Fire Extinguishers Market Report Highlights

  • Dry chemical segment accounted for largest market share in 2022, on account growing use of these agents in the residential sector due to its ability to tackle household fires
  • Class B segment is expected to grow at rapid pace over the projected period, due to several types of government regulations on prioritizing the safety of residential and commercial buildings
  • Non-residential segment held the significant market revenue share in 2022, which is mainly driven by rapidly growing urbanization and industrialization in countries like India and China
  • Asia Pacific region dominated the global market in 2022, that is highly attributable to increasing consumer awareness regarding the benefits of these extinguishers and need to safeguard their properties
  • The global key market players include Morita Holdings Corporation, Amerex Corporation, Raytheon Technologies, Johnson Controls International, and Grap Fire Industries

Polaris Market Research has segmented the portable fire extinguishers market report based on agent, file type, application, and region:

Portable Fire Extinguishers, Agent Outlook (Revenue - USD Billion, 2019 - 2032)

  • Dry Chemical
  • Carbon Dioxide
  • Water
  • Foam
  • Others

Portable Fire Extinguishers, File Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Class A
  • Class B
  • Class C
  • Class D
  • Class K

Portable Fire Extinguishers, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Residential
  • Non-Residential

Portable Fire Extinguishers, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa