This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Portable Fire Extinguisher Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global portable fire extinguisher products market was valued at USD 3 billion in 2022 and is projected to expand at a CAGR of 5.6% from 2023 to 2030. Portable fire extinguishers are mainly used to detect, contain, and extinguish fires in commercial, industrial, and residential buildings. The growth of the market is attributed to stringent government regulations regarding fire safety, increased awareness among end-users regarding the benefits of portable fire extinguishers, and increased demand for fire safety products.
In terms of product type, the market is segmented into water-based, foam-based, dry powder, CO2, and others. The dry powder segment is anticipated to hold a dominant share in the market, attributed to its high efficiency in controlling fires involving combustible materials, such as wood, paper, and cloth. Furthermore, the water-based segment is expected to experience significant growth in the coming years, owing to its easy availability and low cost.
In terms of end-use, the market is classified into residential, commercial, and industrial. The industrial segment is anticipated to witness a significant growth in the market, mainly due to the increasing number of manufacturing plants, warehouses, and other industrial facilities across the globe. Furthermore, the increasing demand for portable fire extinguishers in the residential segment is driven by the growing awareness among consumers regarding fire safety.
The market is also segmented based on geography into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to hold a significant share in the market due to the presence of stringent fire safety regulations and the large number of fire safety equipment manufacturers in the region. The Asia Pacific region is expected to account for a major share in the market due to the rising demand for fire safety equipment in countries such as India, China, and Japan.
The increasing demand for fire safety equipment due to the growing awareness among consumers, coupled with the presence of stringent fire safety regulations, is expected to drive the growth of the market in the coming years. Furthermore, the introduction of new products based on innovative technologies and the increasing number of fire safety equipment manufacturers are expected to create lucrative opportunities for market participants.
Product Insights
The dry chemical segment led the market in terms of revenue and accounted for a share of around 36.8% in 2022. Portable fire extinguishers with dry chemical are the most commonly used and widely available type of fire extinguisher. Dry chemical extinguishers use a variety of agents such as monoammonium phosphate, sodium bicarbonate, and potassium bicarbonate, among others. They are used to extinguish fire by forming a barrier between the fuel, oxygen, and heat.
The foam segment is expected to expand at the fastest CAGR of 8.8% over the forecast period. Foam fire extinguishers are used to extinguish fires involving combustible liquids, flammable gases, and combustible metals. Foam extinguishers are effective in controlling and suppressing fire due to their ability to smother and blanket a fire, sealing off the fuel and oxygen, and forming a barrier between the heat and fuel. Foam fire extinguishers are gaining significant popularity due to their ability to extinguish fire quickly and effectively.
Distribution Channel Insights
The departmental stores segment held the major share of the market in 2022 and is anticipated to grow at a CAGR of 11.2% over the forecast period. The growth of the segment is attributed to the increasing demand for the product from the commercial sector, such as restaurants, warehouses, and offices. Department stores offer a wide range of products and services, including portable fire extinguishers, which enable customers to make quick and easy purchase decisions.
The online segment is expected to exhibit a significant growth rate over the forecast period. The growth of the segment is attributed to the increasing use of the internet and the growing demand for portable fire extinguishers in the residential sector. Moreover, the convenience to shop from the comfort of home and the availability of a wide range of products online have increased the demand for online purchase of portable fire extinguishers. Furthermore, the growing awareness about online shopping among consumers is expected to boost the growth of the online segment.
Type Insights
The dry chemical fire extinguishers segment accounted for the largest revenue share of 67.3% in the year 2022. The increasing demand for dry chemical fire extinguishers owing to its wide application in public buildings, commercial and residential areas is expected to drive the segment. Dry chemical fire extinguishers are filled with a powdery agent, which consists of monoammonium phosphate, sodium bicarbonate, or potassium bicarbonate, and is used to extinguish combustible and electrical fires.
The water and foam fire extinguishers segment is expected to register the highest CAGR of 14.7% over the forecast period. The increasing demand for foam and water fire extinguishers in commercial and industrial areas is expected to drive the segment growth. Foam fire extinguishers are used to extinguish flammable liquids, such as gasoline, oil, and greases, as well as combustible materials, such as wood and paper. Water fire extinguishers are filled with plain or salt water and are used to extinguish Class A fires, such as combustible materials, such as wood, paper, cloth, rubber, and some plastics.
Regional Insights
North America is expected to dominate the market and account for the largest revenue share of over 38.6% in 2022. This is mainly due to the presence of stringent fire safety regulations in the region. For instance, the NFPA (National Fire Protection Association) in the U.S. has implemented rules and regulations that require the installation of fire extinguishers in all commercial and residential buildings. This factor is expected to drive the growth of the portable fire extinguisher market in the region.
Europe is expected to witness the second-fastest growth in the coming years. Growing awareness regarding fire safety among consumers is a key factor behind this growth in the region. For instance, in April 2021, FireAngel, a leading manufacturer of fire safety products, launched a new range of portable fire extinguishers in the UK. This product is designed to meet the latest British standards and is expected to drive the growth of the market in the region.
Financial Projections
In this part of the Portable Fire Extinguisher Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your portable fire extinguisher products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a portable fire extinguisher products business comes from the sale of products, servicing and maintenance contracts, and training services. Here you will find a list with a description of each of them and other possible sources of profit such as partnerships, promotions, and sponsorships.
Projecting Expenses
In this section, all the regular expenses related to keeping the portable fire extinguisher products business running will be described. The list of operating expenses includes rent/mortgage, equipment, supplies, wages, insurance, advertising, maintenance, and others.
Key companies & market share insights
Some of the key companies operating in the portable fire extinguisher market are focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In December 2022, Amerex Corporation launched the Badger fire extinguisher, a lightweight, multi-purpose fire extinguisher designed for use in the home or business.
– In March 2022, Kidde Fire Safety launched the ProLine PRO 10 MP fire extinguisher, a multi-purpose fire extinguisher designed for use in commercial, industrial and marine applications.
– In April 2022, Ansul Incorporated launched the Red Line fire extinguisher, a multi-purpose fire extinguisher designed for use in commercial, industrial and marine applications.
Some of the prominent players in the portable fire extinguisher market include:
– Amerex Corporation
– Kidde Fire Safety
– Ansul Incorporated
– The Great Lakes Fire Equipment Co.
– Buckeye Fire Equipment Co.
– Fire Extinguisher Service Corporation
– FireAde, Inc.
– H3R Performance, Inc.
– Pyro-Chem Products, Inc.
– Tyco Fire Protection Products
Global Portable Fire Extinguisher Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global portable fire extinguishers market based on product, end use, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Dry Chemical
– Foam
– Carbon Dioxide
– Water
– Others
2. End-use Outlook (Revenue, USD Million, 2017 – 2030)
– Residential
– Commercial
– Industrial
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Trends in the Global Portable Fire Extinguisher Products Market?
[A]: The market is expected to be driven by the increasing demand for non-toxic, eco-friendly, and lightweight fire extinguishers. Additionally, the increasing demand for automatic fire extinguishers and the implementation of stringent regulations related to fire safety are expected to drive the growth of the market.
[Q]: What are the Key Drivers of the Global Portable Fire Extinguisher Products Market?
[A]: The key drivers of the market are increasing cases of fire outbreaks due to the increasing demand for fire safety, technological advancements in fire protection systems, the increasing focus on safety regulations and standards, and the increasing awareness about the benefits of fire safety products.
[Q]: What are the Key Challenges Facing the Global Portable Fire Extinguisher Products Market?
[A]: Some of the key challenges facing the market include high manufacturing costs, the lack of standardization, and the lack of trained personnel. Additionally, the limited availability of spare parts and the lack of awareness about the benefits of portable fire extinguishers are some of the key challenges facing the market.
[Q]: What are the Major Applications for Portable Fire Extinguishers?
[A]: Portable fire extinguishers are used in various applications, such as commercial and residential buildings, industrial settings, and vehicles. Additionally, portable fire extinguishers are also used in marine vessels, aircraft, and trains.
[Q]: Who are the Key Manufacturers in the Global Portable Fire Extinguisher Products Market?
[A]: Key manufacturers in the global portable fire extinguisher products market include Amerex Corporation, The Fire Extinguisher Corporation, Kidde Fire Safety, Tyco Fire Protection Products, National Fire Equipment Ltd., and FirePro Systems Pvt. Ltd.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
