The Asia Pacific Fire Hydrants Market would witness market growth of 4.5% CAGR during the forecast period (2021-2027).
The fire hydrant systems do not only come in red color, but it is the most commonly used color found on the roads. The red color of the fire hydrant helps the fire fighters to identify the hydrant even from far away. Also, the different colors of the hydrants denote different things. For instance, violet colour means that the water comes from a lake or pond, & yellow color indicates that water is used from the public supply systems.
Furthermore, various advancements are made in fire hydrants which would serve as a growth opportunity for the market. Many of the fire hydrants are operated by the use of advanced sensors like smart nodes or artificial intelligence (AI) and IoT technology. This would let the fire hydrants use less quantity of water along with the increased efficiency.
Increasing population in the Asia Pacific region is resulting in the growing number of industries, commercial complexes, hospitals & residential buildings and is expected to grow more in number within the next few years. This would further rise the demand for fire hydrants to be installed in such buildings. Also, the increasing technological and economical advancements in the region are leading to the adoption of better and efficient fire hydrants systems.
Moreover, according to the National Disaster Management Authority (NDMA) Of India, the reason of 1.5 deaths in every 100,000 person is because of fire hazards and the total number of incidents is around 3.1 million. The growing number of cases of fire accidents in the region is forcing the government to implement strict regulations to ensure safety from fire accidents that includes the compulsion to install fire hydrants near the buildings.
The China market dominated the Asia Pacific Fire Hydrants Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $112.3 million by 2027. The Japan market is exhibiting a CAGR of 3.8% during (2021 - 2027). Additionally, The India market would witness a CAGR of 5.1% during (2021 - 2027).
Based on Product Type, the market is segmented into Dry Barrel and Wet Barrel. Based on Operating Type, the market is segmented into Conventional and Smart. Based on Construction, the market is segmented into Above Ground and Under Ground. Based on End User, the market is segmented into Commercial and Industrial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Fire Hydrants Market is Projected to reach USD 1.4 Billion by 2027, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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, and Saint-Gobain Group.
By Product Type
By Operating Type
By Construction
By End User
By Country
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