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.
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.
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.
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 would 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 would require fire safety and thus, would deploy the fire hydrants.
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 would result in the recurring cost of maintenance of the fire hydrant systems.
Based on Product Type, the market is segmented into Dry Barrel and Wet Barrel. The wet barrel segment acquired a significant revenue share in the fire hydrants market in 2020. This type of fire hydrant has an independently operating value for each outlet. The wet barrel fire hydrants are easy to access due to which, this type of fire hydrants are being adopted widely.
Based on Operating Type, the market is segmented into Conventional and Smart. The conventional segment procured the maximum revenue in the fire hydrants market in 2020. These types of fire hydrants have combined operational & medium pipes. The demand for conventional hydrants is increasing due to the better hydraulic conditions that they offer as compared to the other hydrants.
Based on Construction, the market is segmented into Above Ground and Under Ground. The underground segment recorded a substantial revenue share in the fire hydrants market in 2020. These are submerged valves and are connected with the water supply line. These are marked on the surface by fire hydrant indicator plates in order to know the exact location of the fire hydrant.
Based on End User, the market is segmented into Commercial and Industrial. The commercial segment acquired the largest revenue share in the fire hydrants market in 2020. It is not uncommon to find fire hydrants on the roadside. The main factors increasing the need for fire hydrants in the commercial sector is the high risk of human life loss associated with fire accidents due to presence of more people at such places.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 1 Billion |
| Market size forecast in 2027 | USD 1.4 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 4.2% from 2021 to 2027 |
| Number of Pages | 190 |
| Number of Tables | 400 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product Type, Operating Type, Construction, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Europe region garnered a significant revenue share in the fire hydrants market in 2020. The strict regulations of the government of various nations regarding fire safety which includes the necessity to install the fire hydrants in the corporate offices are resulting in the growth of the fire hydrants market in the region.
Free Valuable Insights: Global Fire Hydrants Market size to reach USD 1.4 Billion by 2027
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 Geography
The global fire hydrants market size is expected to reach $1.4 billion by 2027.
Growth of Construction Sector are driving the market in coming years, however, heavy investments in implementation and maintenance limited the growth of the market.
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.
The Dry Barrel segment has acquired maximum revenue share in the Global Fire Hydrants Market by Product Type 2020, and would continue to be a dominant market till 2027.
The Smart segment has high growth rate of 6.7% during (2021 - 2027).
The North America is fastest growing region in the Global Fire Hydrants Market by Region 2020, and would continue to be a dominant market till 2027.
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