Global Portable Fire Extinguisher Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

"Global Portable Fire Extinguisher Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global portable fire extinguisher market report has been segmented on the basis of fire type, product type, end-use application, and region.

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Global Portable Fire Extinguisher Market: Overview

Portable fire extinguishers are operable portable devices, that includes an extinguishing agent that can be expelled under pressure for purpose of extinguishing or suppressing fire.

Global Portable Fire Extinguisher Market: Dynamics

Rapid urbanization across the globe, coupled with growing residential and non-residential construction, rising inclination towards security and safety protection among people are primary factors expected to drive the global market growth.

Increasing implementation of government rules and policies in developed and developing countries, and initiatives taken to spread awareness for the need of portable fire extinguishers in all the sectors are other factors expected to drive growth of the global portable fire extinguisher market.

Need to safeguard lives in fire accidents and decrease risk of property loss are factors projected to increase adoption of fire protection equipment, especially portable fire extinguisher owing to its advanced features as compared to conventional extinguishers. For instance, ADA technologies, Inc., which is a US-based company, has invented advanced hand-held fine water mist fire extinguisher using enhanced replacement technology for development of next generation fire extinguisher of manned spacecraft.

However, easy availability of substitutes of fire extinguishers at a reasonable cost is a major factor that could restrain growth of the global portable fire extinguisher market. In addition, recent product recalls due to technical issues may result in low adoption of products thereby hampering revenue growth for various companies operating in the global market to a certain extent.

Installation of portable fire extinguishers in educational institutes, school vans and other public transport across the globe  is a key trend observed in the market and is expected to drive growth of the target market.

Global Portable Fire Extinguisher Market: Segmentation

Among the fire type segments, the class B segment is expected to contribute higher revenue share as compared to other segments in the target market.

Among the product type segments, the dry chemical and powder-based segment are expected to account for major revenue share, owing to rising demand for dry chemical and powder-based portable fire extinguishers used in Class A, B, and C types of fire incidents. Dry chemical powder-based fire extinguishers are very effective as they interrupt the oxidation process quickly.

Among the end-use application segments, the residential segment is expected to dominate in the market and is projected to maintain a dominant position over the forecast period in the global portable fire extinguisher market.

Global Portable Fire Extinguisher Market: Region Analysis

Asia Pacific portable fire extinguisher market is expected to account for a major revenue share in the global market. Growing demand for portable fire extinguisher across public places, educational institutions, hotels, food service restaurants, government buildings, hospitals, and various other places that have possible fire risks. This in turn is projected to drive growth of the Asia Pacific portable fire extinguisher market, and revenue of the Asia Pacific market is expected to be mostly contributed by countries such as China, India, and Japan.

North America portable fire extinguisher market is estimated to register significant growth rate, owing to increasing demand for a portable fire extinguishers, and rapidly increasing number of residential construction. Manufacturers in the US market are mostly concentrating towards launching new products used for multiple class types of fire, which is expected to result in higher adoption of  portable fire extinguishers by various sectors in the country.

Global Portable Fire Extinguisher Market: Segmentation

Segmentation by Fire Type:

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

Segmentation by Product Type:

• Dry chemical & Powder Based
• Water & Foam Based
• Co2 Based
• Metal-Based
• Other (Clean Agents, Greased Fire-Based Extinguishers, and Sprinklers)

Segmentation by End-use Application:

• Residential
• Non-residential

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa