Portable Fire Extinguisher Market By Key Players, Applications, Growth Trends, Region & Segment Forecast To 2019 - 2027
Global Portable Fire Extinguisher Market - Overview
- The global portable fire extinguisher market is expected to reach a value of around US$ 73,000 Mn by 2027, expanding at a CAGR of nearly 4% from 2019 to 2027.
- In terms of volume, the global portable fire extinguisher market is expected to reach nearly 270,000.0‘000 units by 2027, expanding at a CAGR of nearly 4% during the forecast period.
- Across the world, sustained government initiatives are increasing awareness about the benefits of portable fire extinguishers among the general public. Portable fire extinguishers are almost mandatory in commercial buildings across the world.
- The Asia Pacific portable fire extinguisher market is a prominent market, followed by North America and Europe.
Global Portable Fire Extinguisher Market - Driving Factors
- Rise in both, commercial and residential construction, is increasing the demand for fire extinguishers, which subsequently is increasing the demand for portable fire extinguishers.
- In various countries across the world, the installation of portable fire extinguishers is mandatory as per government regulations. Increase in commercial establishments, factories, manufacturing plants, warehouses, etc., are increasing the demand for commercial & industrial portable fire extinguishers.
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- Morita Group is a portable fire extinguisher manufacturer based in Japan. As per its investor presentation dated May 9, 2019, the demand for portable fire extinguishers is expected to rise, as the installation of fire extinguishers becomes mandatory in small-scale restaurants in Japan.
- In various countries, transportation vehicles carrying inflammable and hazardous substances are mandated to carry portable fire extinguishers as per law.
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