DUBLIN--(BUSINESS WIRE)--The "Global Fire Hydrants Market Size, Share & Industry Trends Analysis Report By Product Type, By Operating Type, By Construction, By End User (Commercial and Industrial), By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
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 a fire which can result in heavy destructions. The systems are capable of fighting against a 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.
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.
Growth of Construction Sector
The construction sector is accounting the immense growth due to the increasing infrastructural projects from the past few years. Also, the government of various nations are taking numerous initiatives that are 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 of these new buildings are expected to require fire safety and thus, are expected to deploy 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.
Market Segments Covered in the Report:
By Product Type
- Dry Barrel
- Wet Barrel
By Operating Type
- Conventional
- Smart
By Construction
- Above Ground
- Under Ground
By End User
- Commercial
- Industrial
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
- Rapidrop Global Ltd.
- TALIS Beteiligungs GmbH (Triton Investments Advisers LLP)
- Mueller Water Products, Inc.
- McWane, Inc.
- The Kupferle Foundry Company
- EJ Group, Inc.
- AVK Holding A/S
- American Cast Iron Pipe Company
- SFFECO Global
- Saint-Gobain Group
For more information about this report visit https://www.researchandmarkets.com/r/vbh57o
