Portable Fire Extinguisher Market Report 2024-2033: Global Outlook, Growing Demand, Rising Trends And Major Players

The portable fire extinguisher market size has grown strongly in recent years. It will grow from $7.54 billion in 2023 to $8.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to stringent fire safety regulations, industrial growth, commercial infrastructure development, stringent fire safety regulations, increasing urbanization.

The portable fire extinguisher market size is expected to see strong growth in the next few years. It will grow to $11.16 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to smart fire safety solution, renewed emphasis on residential safety, e-commerce growth, rising construction activities, global climate changes. Major trends in the forecast period include strategic partnerships, technological advancements, IoT integration for monitoring, environmentally friendly extinguishing agents, advanced fire detection technologies.

Market Overview -
A portable fire extinguisher is any portable device that includes liquid, powder, or gases for reducing or extinguishing fires. It operates by releasing an extinguishing substance that is designed to cool the fuel, replace oxygen, or stop the chemical reaction. It is only utilized when the fire is minor, localized, and does not involve highly combustible materials.

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The Role Of Increasing Transportation Vehicles In Boosting The Portable Fire Extinguisher Market
The rise in the number of transportation vehicles is expected to propel the growth of the portable fire extinguisher market going forward. Transportation vehicles are designed and used to transport people, goods, or both from one location to another. Portable fire extinguishers are used as safety measures in many vehicles like buses, coaches, and minibuses to help combat fires on board. Also, it is mandatory for the government in a few countries to install portable fire extinguishers in those vehicles that carry or transport inflammable material to improve road safety. For instance, in January 2023, according to the National Automobile Dealers Association (NADA), a US-based trade organization, there were 13.7 million new light-vehicle sales in the United States, with 14.6 million new light-vehicle sales expected in 2023, representing a 6.6% increase above 2022 predictions. Therefore, the rise in the number of vehicles is driving the growth of the portable fire extinguisher market.

Competitive Landscape -
Major companies operating in the portable fire extinguisher market report are Hochiki Corporation, Raytheon Technologies Corp, Johnson Controls International PLC, Morita Holdings Corporation, Nationwide Fire Extinguishers, Minimax GmbH & Company KG, Britannia Fire, Ansul, First Alert Inc., Kidde Fire Systems, Yamato Protec Corporation, Ceasefire Industries Pvt Ltd., Desautel, Activar Construction Products Group, Tyco Fire Products LP, Jorgensen Co, FlameStop Australia Pty. Ltd., Kanex Fire, JL Industries Inc., Safelincs Ltd., Fireboy-Xintex, Safety Technology International Inc. (STI), Strike First Corporation, Buckeye Fire Equipment, Badger Fire Protection, Elide Fire USA, Feuerschutz Jockel GmbH & Co KG, Hatsuta Seisakusho Co Ltd., Fest Fire Security

Innovative Advancements In Portable Fire Extinguishers For Enhanced Aircraft Fire Safety
Major companies operating in the portable fire extinguisher market are focused on innovating new products to sustain their position in the market. For instance, in January 2021, CASP Aerospace, a Canada-based product design company, launched the Halotron BrX (stabilized 2-BTP)-filled 375H673 portable fire extinguisher. This new-generation portable aircraft fire extinguisher with a hose is ecologically friendly and suitable for new construction and retrofit installations. It features a bracket that is 16G-rated and has the same hole pattern as the bracket for the extinguishers' previous model, the B722538. Users may concentrate their firefighting efforts directly on blazes in confined spaces, such as beneath seats or within overhead bins, with the flexible hose attachment. The 375H673 covers the void left by other 2-BTP-loaded extinguishers that can only be purchased with a nozzle attachment.

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Key Segments -
The portable fire extinguishers market covered in this report is segmented -
1) By Agent Type: Chemical-based, Water-based, CO2-based, Metal-based, Powdered-based, Foam-based.
2) By Fire Type Outlook: Class A, Class B, Class C, Class D, Class K.
3) By Distribution Channel: Online, Offline.
4) By Application: Residential, Industrial, Manufacturing, Construction, Warehouse, Factories, Commercial, Vehicles.

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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