Portable Fire Extinguishers Market Size is
Projected To Reach $16.0 Billion By 2025
The global portable fire extinguishers market size is projected to touch USD 16 billion by 2025. It is anticipated to grow
at 10.2% CAGR through the forecast period of 2019 to 2025. Demand for extinguishers that are lightweight is growing
amongst the consumers. Rising number of casualties is a key factor propelling the demand for such extinguishers in
commercial and residential premises. Governments are majorly focusing on strict measures to ensure safety, which is
expected to have a positive impact on the growth of the market. Increasing awareness about property protection and
safety amongst consumers is propelling the demand of the product. Increasing demand for compact extinguishers in
automobiles is also uplifting the product demand.
According to the National Fire Protection Association (NFPA), there was property damage of USD 13.6 billion and 3,390
civilians succumbed to death because of fire incidents in 2016. The Independent Fire Engineering and Distributors
Association (IFEDA) and Fire Extinguishing Trades Association (FETA) conducted a study showing the effectiveness of
portable extinguishers in 2,100 fire cases in U.K. and came know that in 80% of the cases the flame was extinguished
successfully and in 75% of those cases the concerned department was not required to attend. Manufacturers are
concentrating on introducing these products on the basis of class A,B and C fire types.
Dry chemical dominated the portable fire extinguisher market in 2018. It is the most commonly used extinguisher
because of its ability to douse class A,B and C types. They are comparatively priced at a low rate and are versatile in
nature that makes them highly adoptable. It is expected to grow at the fastest CAGR in the forecast duration.
CO2extinguishers are anticipated to witness considerable growth in the forecast period. Increasing use of these
extinguishers in the commercial sector along with its hi