The Global Portable Fire Extinguisher Market size is expected to reach $15. 6 billion by 2026, rising at a market growth of 12. 8% CAGR during the forecast period. Fire extinguishers are the safety tools that are used to stop the fire and save life and property.
New York, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Portable Fire Extinguisher Market By Product Type, By Distribution Channel, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06021898/?utm_source=GNW
These extinguishers are helpful in controlling the spread of fire across the property and surroundings. Portable fire extinguishers are usually cylindrical in shape. The fire extinguishers refer to pressure vessels containing an extinguishing agent inside it that assists in controlling or dousing fire. There are some features, which makes portable fire extinguisher differ from other fire extinguishers. Portable fire extinguishers are easy to handle, light in weight, and one can easily carry the extinguisher while moving.
The fire protection industry is very much relying on the fire extinguishers as it is the base of the fire protection strategies which are developed and executed. Fire extinguishing technologies are undergoing continuous advancement as it offers the intangible service and security against fire incidents. Although, the low confidence among the end-users related to the utilization and installation of traditional fire extinguishers have negatively impacted the strategic visions of the manufacturers in the fire protection industry.
The increasing concerns about the safety and security of life and property are leading the portable fire extinguisher market and will boost its demand over the forecast period. The increasing number of fire causalities cases in household and commercial premises is propelling the demand for portable fire extinguishers. Furthermore, the stringent government regulations towards the installation of the fire extinguisher at different places are expected to boost the market growth.
By Product Type
Based on Product Type, the market is segmented into Dry Chemical Extinguisher, Carbon Dioxide Extinguisher, Water Extinguisher, Foam Extinguisher, and Others. The carbon dioxide portable extinguishers are estimated to observe a promising growth during the forecast period, due to their massive demand in commercial spaces. These extinguishers are very effective in Class B and K fire types that leave no residue and collateral damage. Along with that, water and foam extinguishers are estimated to observe a notable growth during the forecast period. The cooling effect of foam extinguishers brings down the chances of re-ignition, makes it more effective. Although, the high price of portable extinguishers is hampering the growth of the market.
By Distribution Channel
Based on Distribution Channel, the market is segmented into Non-residential sector and Residential sector. The non-residential sector procured the largest market share in 2019 and is estimated to sustain its dominance during the forecast period. The swiftly increasing commercial and industrial sector is boosting the demand for the portable fire extinguisher market. The government is imposing some strict rules and regulations for fire safety in commercial, industrial, and public areas are raising the demand for portable extinguishers.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific region held the major market share in 2019 and is expected to continue its dominance during the forecast period. The market is mostly directed by demand from the large infrastructures in developing countries like India and Singapore. The swift growth of the commercial and industrial sectors in the region is supporting the demand for portable fire extinguishers market. Reconstruction activities, along with fire safety codes enforced by the governments includes the Code of Design for Building Fire Protection & Prevention in China and Fire Services Law and Building Standards Law in Japan are supporting the demand for the product in the region.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hochiki Corporation, Amerex Corporation (McWane, Inc.), Activar, Inc., Hatsuta Seisakusho Co., Ltd. (YOKOI Manufacturing Ltd.), Ceasefire Industries Pvt. Ltd., Yamato Protec Corporation, Flamestop Australia Pty. Ltd., Desautel SAS, Feuerschutz Jockel GmbH & Co., and Safelincs Ltd. (Nationwide Fire Extinguishers).
Scope of the Study
Market Segments covered in the Report:
By Product Type
• Dry Chemical Extinguisher
• Carbon Dioxide Extinguisher
• Water Extinguisher
• Foam Extinguisher,
By Distribution Channel
• Non-residential sector
• Residential sector
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Hochiki Corporation
• Amerex Corporation (McWane, Inc.)
• Activar, Inc.
• Hatsuta Seisakusho Co., Ltd. (YOKOI Manufacturing Ltd.)
• Ceasefire Industries Pvt. Ltd.
• Yamato Protec Corporation
• Flamestop Australia Pty. Ltd.
• Desautel SAS
• Feuerschutz Jockel GmbH & Co.
• Safelincs Ltd. (Nationwide Fire Extinguishers)
• Exhaustive coverage
• Highest number of market tables and figures
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• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06021898/?utm_source=GNW
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