Portable Fire Extinguisher Market Size to grow by USD 1925.3 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Portable Fire Extinguisher Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The global housewares and specialties market, a segment of the larger household durables industry, encompasses various product categories such as cookware, bakeware, tableware, kitchen electrics, and kitchen tools and accessories. According to Technavio's market research, the household durables market size is determined by the consolidated revenues of manufacturers in sectors like consumer electronics, homebuilding, household appliances, houseware and specialties, and leisure products. Factors fueling growth in the housewares and specialties market include the introduction of innovative designs and vibrant colors in houseware products. Consummers' preference for stylish, distinctively colored kitchen essentials is driving market expansion. - The Portable Fire Extinguisher Market is experiencing significant growth, fueled by the Implementation of stringent fire safety regulations. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Implementation of stringent fire safety regulations
  • Rise in development of commercial and residential buildings
  • Fluctuating raw material prices
  • Increasing environmental concerns with foam-based portable fire extinguishers
• Growth Projections

The market size is estimated to grow by USD 1925.3 million, at a CAGR of 7.44% during the forecast period. The global portable fire extinguisher market is poised for substantial expansion in the coming years, driven by advancements in technology and mergers and acquisitions (M&A). Strategic M&A and collaborations enable vendors to enhance the efficiency of their offerings and boost profitability. Capital outlays are made to introduce new product lines or acquire other service providers. For instance, in April 2022, Resideo Technologies finalized the acquisition of First Alert, Inc., a leading home safety solutions provider, from Newell Brands Inc. This deal underscores the market's dynamic nature and the competitive drive for growth and innovation.

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• Regional Insights

The Portable Fire Extinguisher market represents a significant business opportunity due to the increasing demand for fire safety solutions in both residential and commercial sectors. These devices are essential for mitigating fire risks and ensuring business continuity. Market growth is driven by factors such as stringent regulatory compliance, technological advancements, and rising awareness about fire safety. Key players in this market include Kidde, Amerex, and Ansul, among others.

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