Portable Fire Extinguisher Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Portable Fire Extinguisher Market


The global portable fire extinguisher market size was valued at USD 8.1 billion in 2018 and is expected to expand at a CAGR of 10.2% from 2019 to 2025. Rising number of fire causalities in household and commercial premises is boosting the demand for portable extinguishers. Moreover, strict government regulations mandating the installation of extinguishers are expected to support the market growth.

Growing need for lightweight and easy to move extinguishers is surging demand for portable extinguishers. Portable extinguishers are used as a first response on the fire to get it under control. In addition, growing awareness among consumers regarding personal safety and property protection in emergency situation is fueling demand for portable extinguisher. As per the National Fire Protection Association (NFPA), in 2016, loss of USD 13.6 billion in property damage was caused due to fire incidents and resulting in death of 3,390 civilians. 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 fire and in 75% of those cases, the fire department was not required to attend.

Moreover, governments mandate of installing extinguishers in automobiles is increasing the need for lightweight extinguishers. Manufacturers are focusing on making the product more compact and lightweight in relevance to cope up with growing demand for portable extinguishers. Availability of compact and lightweight extinguishers such as fire balls is increasing the adoption of the product.

Use of portable extinguishers vary depending on the fire type. This factor is acting as a challenge for market growth as there is no universal product for all types of fire. Manufacturers are focusing on launching extinguishers that can be used on Class A, B, and C fires as they are the major type of fires. ABC rating extinguishers are suitable for use on fire caused due to ordinary combustibles, flammable liquids, and energized electrical equipment. While, BC rating extinguishers are suitable for use on fire caused due to flammable liquids and energized electrical equipment.

Application Insights of Portable Fire Extinguisher Market

By application, the market is segmented into residential and non-residential. Non-residential sector held the largest market share in 2018 and is expected to maintain its lead over the forecast period. Rapidly growing commercial and industrial sector is supporting the product demand in the market. Strict government rules and regulations for fire safety in commercial, industrial, and public areas are increasing the demand for portable extinguishers.
The residential segment is estimated to witness the fastest growth over the forecast period. The growth is attributed to growing casualties due to fire, increasing 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 fires, followed by smoking materials during 2012 - 2016. Growing safety concerns among consumers is increasing the demand for portable extinguishers in the residential sector.
Product
Type Insights of Portable Fire Extinguisher Market

By product type, the portable fire extinguisher market is segmented as dry chemical, carbon dioxide, water, foam, and others. Dry chemical portable extinguishers held the largest market share in 2018 and is projected to be the fastest growing segment over the forecast period. Popularity of dry chemical among consumers is high owing to its ability to be used on class A, B, and C fires. In addition, they are commonly used in residential buildings as they can easily combat all three common household fire types. Relatively low price and high versatility are also supporting the market growth.

Carbon dioxide portable extinguishers are expected to witness strong growth over the forecasted period owing to its high demand in commercial spaces. These products are highly effective on class B and K fire types, leaving no residue and collateral damage. In addition, water and foam extinguishers are expected to witness significant growth over the forecast period. Cooling effect of foam extinguishers reduce chances of re-ignition, making it more efficient. However, high price of these portable extinguishers is posing challenge for growth. Water extinguishers are cheap and commonly used among consumers. However, they can only be used for class A fire, which is acting as a restrain for the market growth.

Regional Insights of Portable Fire Extinguisher Market

Asia Pacific held the largest market share in 2018 and is estimated to maintain its lead over the forecast period. The market is majorly driven by demand for large infrastructures in developing countries such as India and Singapore. Rapid growth of the commercial and industrial sectors in the region is boosting the demand for portable extinguishers. Reconstruction activities, coupled with fire safety codes implemented by the governments including Fire Services Law and Building Standards Law in Japan and the Code of Design for Building Fire Protection & Prevention in China, are boosting the product demand in the region.

Middle East and Africa is estimated to be the fastest growing market over the forecast period. Demand in the region is highly driven by recovering oil prices, government initiatives, and revised fire and life safety codes. Growing hospitality sector is one of the key verticals driving the demand for portable extinguisher in the region. North America is estimated to witness significant growth over the forecast period owing to increasing fire incidents and property damages over the forecast period.

Market Share Insights of Portable Fire Extinguisher Market

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; Ceasefire Industries Pvt. Ltd.; and Yamato Protec Corporation. Key players in the market for portable extinguisher are focusing on strategies such as product innovation. Increasing competition among the players is leading to introduction of compact and portable extinguishers. Many regional manufacturers have introduced throw able extinguishers purposely designed for residential use. For instance, Ceasefire Industries Pvt. Ltd., launched designer series home extinguishers ideal for home application and making it more easy to use than others because of their lightweight ˜point and shoot design.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Portable Fire Extinguisher Market Research Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global portable fire extinguisher market report on the basis of product type, application, and region:

Product Type Outlook (Revenue, USD Million, 2019 - 2030)

  
Dry Chemical
  
Carbon Dioxide
  
Water
  
Foam
  
Others

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Residential
  
Non-residential