Portable Fire Extinguisher Global Opportunities and Strategies to 2033

This report describes and explains the portable fire extinguisher market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global portable fire extinguisher market reached a value of nearly $6.6 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.8% since 2018. The market is expected to grow from $6.6 billion in 2023 to $8.6 billion in 2028 at a rate of 5.5%. The market is then expected to grow at a CAGR of 6.4% from 2028 and reach $11.8 billion in 2033.

Growth in the historic period resulted from the strong economic growth in emerging markets, rise in the number of transportation vehicles, rising consumer awareness for personal safety and rising number of fire accidents. Factors that negatively affected growth in the historic period was regulatory compliance and certification.

Going forward, growing commercial and residential construction, rising urbanization, rising government initiatives and growing adoption of the smart city concept will drive the growth. Factor that could hinder the growth of the portable fire extinguisher market in the future include high cost of raw materials.

The portable fire extinguisher market is segmented by agent type into water-based, CO2-based, powder-based, foam-based and other agent types. The powder-based market was the largest segment of the portable fire extinguisher market segmented by agent type, accounting for 36.6% or $2.4 billion of the total in 2023. Going forward, the CO2-based segment is expected to be the fastest growing segment in the portable fire extinguisher market segmented by agent type, at a CAGR of 6.1% during 2023-2028.

The portable fire extinguisher market is segmented by fire type into class A, class B, class C, class D and class K. The class A market was the largest segment of the portable fire extinguisher market segmented by fire type, accounting for 34.9% or $2.3 billion of the total in 2023. Going forward, the class C segment is expected to be the fastest growing segment in the portable fire extinguisher market segmented by fire type, at a CAGR of 5.9% during 2023-2028.

The portable fire extinguisher market is segmented by application into residential, industrial, construction, commercial and vehicles. The industrial market was the largest segment of the portable fire extinguisher market segmented by application, accounting for 36.5% or $2.4 billion of the total in 2023. Going forward, the vehicles segment is expected to be the fastest growing segment in the portable fire extinguisher market segmented by application, at a CAGR of 5.8% during 2023-2028.

The portable fire extinguisher market is segmented by distribution channel into online and offline. The offline market was the largest segment of the portable fire extinguisher market segmented by distribution channel, accounting for 54.1% or $3.6 billion of the total in 2023. Going forward, the online segment is expected to be the fastest growing segment in the portable fire extinguisher market segmented by distribution channel, at a CAGR of 5.9% during 2023-2028.

Asia Pacific was the largest region in the portable fire extinguisher market, accounting for 36% or $2.4 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the portable fire extinguisher market will be Asia Pacific and Western Europe where growth will be at CAGRs of 6.1% and 5.9% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 5.8% and 5.2% respectively.

The global portable fire extinguisher market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 25% of the total market in 2022. Johnson Controls International Plc was the largest competitor with 7.4% share of the market, followed by Ceasefire Industries Pvt. Ltd. with 3.7%, Carrier Global Corp (Kidde) with 2.7%, Buckeye Fire Equipment Company with 2.4%, McWane Inc with 2.2%, Drägerwerk AG & Co. KGaA with 2.1%, Amerex Corporation with 1.6%, Morita Holdings Corporation with 1.4%, HOCHIKI Corporation with 0.8% and Resideo Technologies Inc. with 0.7%.

The top opportunities in the portable fire extinguisher market segmented by agent type will arise in the powder-based segment, which will gain $803.3 million of global annual sales by 2028. The top opportunities in the portable fire extinguisher market segmented by fire type will arise in the class B segment, which will gain $674.8 million of global annual sales by 2028. The top opportunities in the portable fire extinguisher market segmented by application will arise in the industrial segment, which will gain $766.5 million of global annual sales by 2028. The top opportunities in the portable fire extinguisher market segmented by distribution channel will arise in the offline segment, which will gain $1.03 billion of global annual sales by 2028. The portable fire extinguisher market size will gain the most in China at $447.6 million.

Market-trend-based strategies for the portable fire extinguisher market include launch of electrically non-conductive fire extinguishers, innovation in fire extinguishing devices with improved safety features, increased focus on environmentally friendly water mist fire extinguishers and strategic partnerships to develop new fire extinguishing solutions.

Player-adopted strategies in the portable fire extinguisher market include focus on strengthening operational and production capabilities through the launch of new products and new product developments.

To take advantage of the opportunities, the analyst recommends the portable fire extinguisher companies to focus on electrically non-conductive fire extinguishers for enhanced safety, focus on innovative fire extinguishing devices, focus on environmentally friendly water mist fire extinguishers, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on targeted education and training initiatives for enhanced end-user safety.