Portable Fire Extinguisher Market 2022 Expanding at a CAGR of nearly 4%

The fire protection industry has always, and will continue to, bank on fire extinguishers as the bedrock upon which a complete fire protection strategy is developed and executed. Being an intangible service and security, fire protection is undergoing constant advancements, and fire extinguishing technologies are constantly being enhanced. However, the lack of confidence among end users regarding the use and installation of conventional fire extinguishers is leading to a drastic change in the strategic outlook for manufacturers in the fire protection industry.

The sea of evolution in the fire safety landscape, in general, and the portable fire extinguisher market, in particular, are too important to be overlooked. Transparency Market Research, in its new research, lays bare the undercurrents that are likely to remain instrumental in the development of this landscape in the future.

Planning to lay down future strategy? Perfect your plan with our report brochure here

Portable Fire Extinguishers: The First Line of Defense is Convenience

End-user perception about portable fire extinguishers is changing, as convenience drives the launch of new products. The rapidly-transforming fire industry is weighing fire safety and ease of using fire extinguishers on the same scale. Manufacturers have responded by leveraging the prowess of automation technology, along with equipping their offerings with portable components. End-users’ need to fight new fire hazards dictated by modern technologies while minimizing the risk of damage to life and property is pushing manufacturers to ring in the changes, and simplify the designs of portable fire extinguishers to facilitate ease of use with greater efficiency.

Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html

How the Portable Fire Extinguisher Market is Shaping Up

In the United States alone, property loss caused by fires increased from over US$ 14 billion in 2007 to around US$ 23 billion in 2017. The collective effort towards minimizing the number of international fire incidents has instigated a spurt in the adoption of fire extinguishers and other types of fire protection equipment.

In addition, governments across the world have been formulating strict rules that are boosting the sales of portable fire extinguishers. The portable fire extinguisher landscape recorded a sales of over US$ 52 billion in 2018, and the stringent regulatory environment is expected to continue to underpin the penetration of portable fire extinguishers in the coming years.

Want to know the obstructions to your company’s growth in future? Request a PDF sample here

Impact of Undercurrents on Market Trends

Over 6 in 10 portable fire extinguishers are sold in the commercial and industrial sectors. Leading companies are incorporating tech-driven manufacturing strategies to foray into the most rugged industrial areas, such as mining, oil & gas, and waste management, where the risk of fire loss is the highest. Product design and development strategies are heavily impacted by the need for portable fire extinguishers so as to withstand harsh environments and severe corrosion conditions in these end-user segments.

With governing bodies in developing countries amassing to implement strict fire safety regulations for the residential sector, product penetration is projected to reach new heights in housing estates and condominiums. TMR’s study opines that, increasing growth of the construction industry and growing number of skyscrapers will create new business opportunities for manufacturers in the residential sector, in the coming future.

portable fire extinguisher market analysis and forecast by agent type

Looking for exclusive market insights from business experts? Request a Custom Report here

Read Our Latest Press Release:

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

Contact

Transparency Market Research State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

USA – Canada Toll Free: 866-552-3453

Email: [email protected]

Website: https://www.transparencymarketresearch.com