Selbyville, Delaware,, Aug. 26, 2024 (GLOBE NEWSWIRE) --
The portable fire extinguisher market is predicted to hit USD 11 billion by 2032, as reported in a research study by Global Market Insights Inc. The rising incidents of industrial fires and emergencies are a crucial growth driver for the market. According to world metrics, the global economy incurs an annual loss of $37 billion due to industrial fires. As industries expand and operations become more complex, the risk of fires and hazardous situations increases, necessitating effective fire protection solutions. High-profile fire incidents and safety breaches underscore the importance of reliable fire extinguishing equipment. In response, industries are investing in advanced portable fire extinguishers to ensure swift and effective response to emergencies. The heightened awareness of fire risks and the potential for significant financial and safety repercussions will stimulate the industry expansion.
The portable fire extinguisher market from the class D segment will grow rapidly through 2032. Fire extinguishers for class D fire are designed specifically for combating fires involving combustible metals like magnesium, titanium, and sodium. These extinguishers have dry powder agents tailored to smother and control fires that are not effectively managed by conventional extinguishers. Their specialized nature and effectiveness in handling metal fires make them indispensable in sectors such as aerospace, automotive, and chemical manufacturing. As safety regulations become more stringent, the demand for Class D fire extinguishers is expected to rise, driving innovation and adoption in various industrial applications.
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The portable fire extinguisher market from the commercial sector segment will witness decent growth through 2032, driven by growing awareness of fire safety standards across diverse business environments. From office buildings and retail stores to hospitality and entertainment venues, the need for reliable and effective fire protection systems is more pronounced than ever. Commercial establishments are investing in state-of-the-art portable fire extinguishers to ensure the safety of their premises and occupants. The surge in demand for extinguishers that offer ease of use, quick deployment, and comprehensive coverage for various types of fires is garnering revenue from the commercial sector.
Europe portable fire extinguisher market will gain traction through 2032, fueled by a combination of regulatory frameworks, technological advancements, and increased safety awareness. The stringent fire safety regulations and standards mandate high-quality and reliable fire extinguishing equipment across various sectors. This regulatory environment has led to the widespread adoption of advanced portable fire extinguishers that meet European safety standards. Additionally, the emphasis on sustainability and eco-friendly products is driving the development of fire extinguishers with environmentally friendly agents and recyclable materials.
Major portable fire extinguisher market players include Kidde, Amerex Corporation, Badger Fire Protection, Minimax Viking, Tyco Fire Protection Products, Johnson Controls International, Globe Fire Sprinkler Corporation, BRK Brands, Inc, SFFECO Global, and Firemaster. Their growth strategies include investing in research and development to innovate and enhance the performance of fire extinguishing products, such as developing advanced agents and improving user-friendliness. Strategic partnerships and acquisitions are being pursued to broaden market reach and integrate complementary technologies. Additionally, companies are establishing regional distribution networks and adapting products to meet local safety regulations.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Portable Fire Extinguisher Market Insights
3.1 Industry ecosystem analysis
3.2 Technological overview
3.3 Regulatory landscape
3.4 Industry impact forces
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
