The Global Fire Hydrants Market size is expected to reach $1.4 billion by 2027, rising at a market growth of 4.2% CAGR during the forecast period.
A fire hydrant system is an effective way for extinguishing the fire which can result in heavy destructions. The systems are capable of fighting against the fire to a long distance because of the large piping system. Fire hydrant systems cover each point of the building due to which, it has comparatively more penetration capabilities. The valves of a fire hydrant are placed throughout the building, making it highly accessible. It is important for the fire safety service providers that the water source is quick to access. Fire hydrant systems provide a place for storage and water supply. In addition to this, it is important to have a secondary source readily available as to use when the water is used up for at a high extent. For such a situation, fire hydrants preserve in underground pipes also.
Fire hydrants are an essential tool for any industry or manufacturing plant to control the fire if an emergency arises. Mechanical devices are normally placed outside a building connected to any water service network. Also, the internal fire hydrant is installed in some portions of a building where the exterior one cannot reach or safeguard. Usually, a fire hydrant system consists of a water pressurizing system that is distributed across the building with the help of pipes & hoses.
The diesel model uses diesel as a fuel for the operation of the fire hydrant system, the electricity model uses electricity & the hybrid system uses both electricity as well as diesel. All the industries & corporate companies are required to have safety measures on their premises. The rising construction of commercial & industrial buildings is the major factor responsible for the growth of the fire hydrant market.
Increasing population resulting in high demand for hospitals, commercial complexes, etc., industries like oil, gas & various manufacturing industry which involve flammable substances like crude oil, flammable gases & petroleum essentially require fire hydrants as they have more chances of fire accidents. Also, rising urbanization, industrialization along with increased awareness toward the safety of assets is increasing the demand for fire hydrant resources.
COVID-19 Impact Analysis
The COVID-19 pandemic has affected various industries in one or another manner. The fire hydrant market has accounted a negative impact during the pandemic. Various companies were forced to stop their operations for a short term due to the new regulations of government to curb the effect of diseases. Furthermore, the less availability of raw material & manpower has also affected the growth of the market negatively. The construction activities were also restricted in various countries which has resulted in the decreased demand for fire hydrants.
However, as the cases are reduced the government has uplifted restrictions over the construction, and opening of various corporate offices & other buildings will help the fire hydrant market to come back to the track of growth.
Market Growth Factors:
Risk of human life associated with fire accidents
Human life is considered as the most precious asset in the world. The increasing industrialization is also rising the cases of fire accidents at sites which may lead to the loss of lives along with the damage to property & assets. A large number of people loss their life in fire accidents. As per the information of World Health Organization, around 18000 people loss their life due to burns each year and this mainly happens in low-income and middle-income countries.
According to the research conducted by National Fire Protection Association (NFPA), in the United States, the fire department has recorded an increase in the number of fire cases across the United States in 2016. They also added that around 3390 people lost their lives and a large number of people got serious injuries due to these fire outbreaks.
Growth of Construction Sector
The construction sector is accounting the immense growth due to the increasing infrastructural project from the past few years. Also, the government of the various nations is taking numerous initiatives that is expected to further increase the construction activities across the world. This growth of the construction industry & building designs is leading to the development of more advanced construction methods, professional designs, and technologies that are capable of ensuring safety from unexpected fire breakouts.
The construction of malls, hotels, and dwellings is continuously increasing in developing nations. Also, the residential buildings and smart city projects are increasing due to the expansion in the population in the world. All these new buildings is expected to require fire safety and thus, is expected to deploy the fire hydrants.
Marketing Restraining Factor:
Heavy investments in implementation and maintenance
The companies are required to invest a large amount in the installation of fire hydrants systems. Owing to the increasing fire accidents, fire safety providers are making continuous advancements in the existing solution and are also introducing the latest technologies and products. The investment of large amounts by the manufacturing companies is rising the purchasing costs of these solutions such as fire hydrant for the private & government agencies. In addition, the fire hydrants are required to be regularly inspected & tested in order to ensure that they are working properly and are also required to be maintained regularly which is expected to result in the recurring cost of maintenance of the fire hydrant systems.
Chapter 3. Recent Strategies deployed in Fire Hydrants Market
Chapter 4. Global Fire Hydrants Market by Product Type 4.1 Global Dry Barrel Market by Region 4.2 Global Wet Barrel Market by Region
Chapter 5. Global Fire Hydrants Market by Operating type 5.1 Global Conventional Market by Region 5.2 Global Smart Market by Region
Chapter 6. Global Fire Hydrants Market by Construction 6.1 Global Above Ground Market by Region 6.2 Global Under Ground Market by Region
Chapter 7. Global Fire Hydrants Market by End User 7.1 Global Commercial Market by Region 7.2 Global Industrial Market by Region
Chapter 8. Global Fire Hydrants Market by Region
Chapter 9. Company Profiles 9.1 Rapidrop Global Ltd. 9.1.1 Company Overview 9.2 TALIS Beteiligungs GmbH (Triton Investments Advisers LLP) 9.2.1 Company Overview 9.3 Mueller Water Products, Inc. 9.3.1 Company Overview 9.3.2 Financial Analysis 9.3.3 Segmental Analysis 9.3.4 Research & Development Expenses 9.3.5 Recent strategies and developments: 9.3.5.1 Product Launches and Product Expansions: 9.3.5.2 Acquisitions and Mergers: 9.4 McWane, Inc. 9.4.1 Company Overview 9.4.2 Recent strategies and developments: 9.4.2.1 Acquisitions and Mergers: 9.5 The Kupferle Foundry Company 9.5.1 Company Overview 9.6 EJ Group, Inc. 9.6.1 Company Overview 9.7 AVK Holding A/S 9.7.1 Company Overview 9.7.2 Recent strategies and developments: 9.7.2.1 Acquisitions and Mergers: 9.8 American Cast Iron Pipe Company 9.8.1 Company Overview 9.9 SFFECO Global 9.9.1 Company Overview 9.10. Saint-Gobain Group 9.10.1 Company Overview 9.10.2 Financial Analysis 9.10.3 Segmental Analysis 9.10.4 Research & Engineering Expense
