GVR Report cover Portable Fire Extinguisher Market Size, Share & Trends Report

Portable Fire Extinguisher Market Size, Share & Trends Analysis Report By Agent (Foam, Dry Chemical), By Fire Type (Class A, B, C), By Application (Residential, Non-residential), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-3-68038-572-4
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global portable fire extinguisher market size was valued at USD 9.10 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.1% from 2022 to 2030. The growing number of fire causalities in commercial and household premises is boosting product demand across the globe. Furthermore, strict government rules and regulations regarding the installation of extinguishers are anticipated to support the industry's growth over the forecast years. The growing need for lightweight and easy-to-move extinguishers is boosting the demand for portable extinguishers. Portable extinguishers are used as a first response to the fire to get it under control.

 U.S. portable fire extinguisher market size, by application, 2020 - 2030 (USD Billion)

Also, growing awareness among consumers regarding personal safety and property protection in an emergency is fueling the demand. As per the National Fire Protection Association (NFPA), in 2020, a loss of USD 21.9 billion in property damage was caused due to fire incidents in the U.S. and resulting in the death of 3,500 civilians. Fire extinguishers play a vital role in safeguarding properties and infrastructure in the event of a fire accident. The Fire Extinguishing Trades Association (FETA) and Independent Fire Engineering and Distributors Association (IFEDA) conducted a study on the effectiveness of portable extinguishers in 2100 fire cases in the U.K. and found that in 80% of the cases, they successfully extinguished the fire and in 75% of those cases, the fire department was not required to attend.

Moreover, government mandates for installing extinguishers in automobiles are increasing the need for lightweight extinguishers. Manufacturers are focusing on making the product more compact and lightweight to cater to the growing demand for portable extinguishers. The availability of compact and lightweight extinguishers, such as fireballs, is increasing product adoption. The use of portable extinguishers varies 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 fires caused due to flammable liquids, ordinary combustibles, and energized electrical equipment. While BC rating fire extinguishers are suitable for use on fires caused due to energized electrical equipment and flammable liquids. However, the high costs associated with raw materials are the major restraint for the industry. In addition, the rising demand for fire sprinkler systems from various manufacturing industries and commercial buildings may hinder industry growth. Moreover, strict government rules and regulations regarding fire safety in industrial, commercial, and residential places and regulatory mandates are expected to accelerate industry growth over the forecast period.

Agent Insights

On the basis of agents, the global industry has been further categorized into dry chemicals, carbon dioxide, water, foam, and others. The dry chemical portable extinguishers segment dominated the global industry in 2021 and accounted for the largest share of more than35.27% of the overall revenue. The popularity of dry chemicals among consumers is high as these products can be used on class A, B, and C fires. They are also commonly used in residential buildings as they can easily combat all three common household fire types. Moreover, relatively low prices and high versatility are expected todrive the segment further.

 Global portable fire extinguisher market share, by agent, 2021 (%)

On the other hand, the carbon dioxide segment is expected to register the fastest growth rate from 2022 to 2030. This can be attributed to its high demand in commercial spaces. These products are highly effective in class B and K fire types, leaving no residue and collateral damage. Also, water and foam extinguishers are expected to witness significant growth over the forecast period. The cooling effect of foam extinguishers reduces the chances of re-ignition, making them more efficient. However, the high price of these portable extinguishers is posing a challenge for the segment's growth.

Fire Type Insights

The class C type segment dominated the global industry in 2021 and accounted for the highest share of around 38.35% of the overall revenue.The increasing demand for class c fire extinguishers for energized electrical components, and chemical, or flammable liquid fires can occur in commercial and residential places due to power acting as a continuous source of fire ignition, which is propelling the segment growth. Moreover, the increasing number of fire accidents around the globe supports segment growth. The Class B type segment is expected to register the fastest CAGR from 2022 to 2030.

Class B fire extinguisher used for a fire involving flammable and combustible liquids is driving the segment growth. Organizational bodies around the world have laid down strict safety regulations, which are to be followed by commercial and residential buildings. These rules and regulations have been stated to guarantee the protection of life & property in case of an occurrence of fire. These regulations mandate the presence of various types of fire extinguishers, such as Class B, in the building premises, which is expected to accelerate the segment growth over the forecast period.

Application Insights

On the basis of applications, the global industry has been further categorized into residential and non-residential. The non-residential segment accounted for the largest share of more than 80.00% of the overall revenue in 2021. The segment will expand further at a steady growth rate during the forecast period. The rapidly growing commercial and industrial sectorsare supporting the product demand. Strict government rules and regulations for fire safety in commercial, industrial, and public areas are increasing the demand for portable extinguishers.Moreover, increasing investments in the construction of commercial places across the globe are accelerating the segment growth.

On the other hand, the residential application segment is estimatedto register the fastest growth rate during the forecast period. The growth of this segment can be attributed to the growing casualties due to fire, increasing property damage, 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. Growing safety concerns among consumers are increasing the product demand in the residential sector.

Regional Insights

Asia Pacific emerged as the largest region in 2021 and accounted for the maximum share of more than 36.27% of the overall revenue. The region is estimated to expand further at the fastest growth rate during the forecast period. The regional market is majorly driven by the requirement for large infrastructures in developing economies, such as India and China. In addition, the rapid growth of the industrial and commercial sectors in the region is accelerating product demand. Reconstruction activities, coupled with fire safety codes implemented by the governments, such as the 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.

Portable Fire Extinguisher Market Trends by Region

The Middle East & Africa region is estimated to record the second-fastest growth rate during the forecast period. The product demand in the region is driven by the rising government initiatives, revised fire and life safety codes, and recovering oil prices. Moreover, the growing hospitality industry is one of the key verticals accelerating the product demand in the region. North America is estimated to witness a significant growth over the forecast period owing to increasing fire incidents and property damage cases.

Key Companies & Market Share Insights

Key industry participants are focusing more on product innovation. Increasing competition among the players is leading to the 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 of home extinguishers that are easy to use as they have a lightweight point-and-shoot design

  • For instance, in June 202, SFP Holding, Inc. announced that the company’s subsidiaries, Summit Fire & Security and Summit Fire Protection, recently completed ten strategic acquisitions. Summit Companies provides inspection, testing and monitoring, service and repair, installation, and consulting services for fire protection, life safety, and security systems

Some of the prominent players in the global portable fire extinguisher market include:

  • Raytheon Technologies Corp.

  • Johnson Controls International Plc

  • Morita Holdings Corp.

  • Hochiki Corp.

  • Amerex Corp.

  • Ceasefire Industries Pvt. Ltd.

  • Activar Inc.

  • Yamato Protec Corp.

  • FlameStop Australia Pty. Ltd.

  • Feuerschutz Jockel GmbH & Co.

  • Britannia Fire Ltd.

  • Minimax

  • Kanex Fire

Portable Fire Extinguisher Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 9.86 billion

Revenue forecast in 2030

USD 19.98 billion

Growth rate

CAGR of 9.1% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Agent, fire type, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Germany; U.K.; France; China; India, Japan; Saudi Arabia; Brazil

Key companies profiled

Raytheon Technologies Corp.; Johnson Controls International Plc; Morita Holdings Corp.; Hochiki Corp.; Amerex Corp.; Ceasefire Industries Pvt. Ltd.; Activar Inc.; Yamato Protec Corp.; FlameStop Australia Pty. Ltd.; Feuerschutz Jockel GmbH & Co.; Britannia Fire Ltd; Minimax; Kanex Fire

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

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Global Portable Fire Extinguisher Market Segmentation

This report forecasts revenue 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 the purpose of this study, Grand View Research has segmented the global portable fire extinguisher market report on the basis of agent, fire type, application, and region:

Global Portable Fire Extinguisher Market Segmentation

  • Agent Outlook (Revenue, USD Million, 2017 - 2030)

    • Dry Chemical

    • Carbon Dioxide

    • Water

    • Foam

    • Others

  • Fire Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Class A

    • Class B

    • Class C

    • Class D

    • Class K

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Residential

    • Non-residential

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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