Portable Fire Extinguisher Market Size - By Product Type (Water and Foam Fire Extinguishers, Dry Powder Fire Extinguishers, CO2 Fire Extinguishers), By Class of Fire, By Capacity, By Application, By Distribution Channel, Forecast 2024 - 2032

Portable Fire Extinguisher Market size is poised to expand at 5% CAGR from 2024 to 2032, propelled by stringent safety regulations. The influx of several government mandates and building codes is necessitating the installation of fire extinguishers in residential, commercial, and industrial settings. Compliance with these regulations is boosting the demand for portable fire extinguishers for ensuring preparedness for fire emergencies. For instance, in March 2023, the Maharashtra legislature enacted a fire bill stipulating that all new buildings with 22 storeys or more are required to have fire prevention devices, such as fire extinguishers, smoke detectors, sprinklers, and public address systems installed to protect public safety.

Additionally, industries, such as manufacturing, healthcare, and hospitality are largely prioritizing fire safety. The strong emphasis on workplace safety and insurance requirements is also contributing to the rising adoption of fire extinguishers. With businesses and individuals complying with safety standards, the demand for portable fire extinguishers is set to expand steadily to meet the growing demand for reliable fire protection solutions.

The portable fire extinguisher industry is segmented into product type, class of fire, capacity, application, distribution channel, and region.

Based on product type, the market value from the CO2 (carbon dioxide) fire extinguishers segment is projected to witness 4% CAGR between 2024 and 2032. CO2 fire extinguishers are gaining traction for their effectiveness in extinguishing electrical and flammable liquid fires without leaving residue. With industries increasingly relying on electronic equipment and machinery, the demand for these extinguishers is rising. Furthermore, benefits like non-conductive and non-corrosive properties will further contribute to increasing product preference for fire safety.

In terms of application, the portable fire extinguisher market from the residential segment is anticipated to attain 5% CAGR up to 2032. With increasing awareness about home safety, homeowners are seeking portable fire extinguishers as a crucial tool for fire prevention. The increasing availability of compact and easy-to-use extinguishers, designed for kitchen, garage, and living spaces, is helping cater to consumer preferences for convenience and accessibility. Moreover, insurance incentives and safety regulations are encouraging households to be equipped with fire extinguishing solutions, adding to the segment growth.

Regionally, the North America portable fire extinguisher industry is set to exhibit 5.2% growth rate from 2024-2032 driven by the stringent safety regulations and the strong emphasis on fire prevention measures. There is increasing awareness about the importance of fire safety in residential, commercial, and industrial settings across the region. Moreover, the presence of key market players offering innovative and technologically advanced products will further propel the regional market growth. For instance, in October 2023, Johnson Controls, the American multinational conglomerate, expanded its commercial portable fire extinguisher range with the newest, more ecologically friendly choice, CLEANGUARD+, which is available through ANSUL(R) and PYRO-CHEM(R).