Latest News- Portable Fire Extinguisher Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Portable Fire Extinguisher Market is being driven by Implementation of stringent fire safety regulations

The Portable Fire Extinguisher Market is expected to grow at a CAGR of 7.44% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1925.3 million. The global portable fire extinguisher market is poised for substantial expansion in the coming years, driven by innovative product developments and mergers and acquisitions (M&A) activities. Strategic M&A and collaborations among market players enable them to create more efficient fire extinguisher solutions and enhance profitability. Investments in the form of capital outlays for new product development or acquisitions of other service providers are common industry practices. For instance, in April 2022, Resideo Technologies finalized the acquisition of First Alert, Inc., a leading provider of home safety products, from Newell Brands Inc. This strategic move will expand Resideo's product portfolio and strengthen its market position. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• End-user
  • Residential
  • Commercial
  • Industrial
• Geography
  • North America
    • US
  • APAC
    • China
    • India
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Implementation of stringent fire safety regulations
• Rise in development of commercial and residential buildings
• Rising governmental concerns to prevent fire hazards

However, the market also witnesses some limitations, which are as follows:

• Fluctuating raw material prices
• Increasing environmental concerns with foam-based portable fire extinguishers
• Presence of alternative fire extinguishers

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Market Scope in Portable Fire Extinguisher Market Research Report

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Research Analysis Overview

The Portable Fire Extinguisher market caters to the safety needs of individuals and businesses, particularly during construction activities, industrial projects, and machinery and electrical equipment operations. These devices are essential for combating Class A fires caused by flammable materials, ensuring first response for vehicle fires, and protecting property from damage or destruction. Lightweight and compact extinguishers, such as those using foam or dry powder, are popular choices for their ease of use and effectiveness. Summit Fire Protection is a leading provider of fire safety measures, offering a range of portable fire extinguishers as a crucial firefighting tool for personal safety and property protection. In the event of a fire emergency, these devices can prevent fire causalities, minimize property damage, and even save lives. Fire extinguishers come in various classes, including A, B, C, D, and E, each designed to combat specific types of fires using firefighting agents like foam, dry powder, carbon dioxide, or wet chemicals. The nozzle on the portable device directs the agent effectively, making it an indispensable tool for small fires.

Market Research Overview

The Portable Fire Extinguisher market is a significant segment within the broader context of the global Fire Safety Equipment industry. Key end-users include individuals, businesses, and construction sites, where machinery, electrical equipment, flammable materials, and vehicles are prevalent. Demand for portable fire extinguishers is driven by the need for first response in mitigating Class A fires, which involve ordinary combustibles like wood, paper, and cloth. Fire safety measures in commercial spaces, residential settings, and industrial projects further boost market growth. The environmental impact of fire incidents and the importance of personal safety and property protection are additional factors fueling product demand. Technavio's market analysis indicates that the global Portable Fire Extinguisher market will experience steady growth due to increasing fire safety awareness and the continuous development of innovative fire extinguishing technologies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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