The Global Portable Fire Extinguisher Market size was estimated to be US$ 7.8 billion in 2019 and expected to grow at a CAGR of 9% during 2020 and 2030. Fire extinguisher is a critical component of fire safety and emergency response system across residential, commercial and industrial facilities. Portable fire extinguishers are used as first response to fire and are adopted across the globe. Different types of portable fire extinguishers are used depending on nature and source of fire. The number of fire outbreak incidences has increased significantly, causing severe damage to life and property. According to the National Fire Protection Association (NFPA), in the United States, losses in property damage were around US$ 11 billion in 2018, up 3.7% from 2017. This has triggered effective structuring of emergency fire response systems across residential and commercial complexes. Increasing number of residential and commercial facilities and rising awareness regarding fire safety are the key factors driving the growth of portable fire extinguishers globally. The global portable fire extinguisher market is expected to grow significantly during the forecast period.
Read More@https://www.insightslice.com/portable-fire-extinguisher-market
)