Global Fire Hydrant Market to reach US$ 1.8 BN by 2031, driven by the Rising Service Requirements from Industrial and Commercial Clients: Global Insight Services
New York, November 2022: According to a new research study by Global Insight Services (GIS), the fire hydrant market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 1.8 billion by 2031.
Hydrants are water extraction devices used in pipelines and water distribution systems. A fire hydrant can ensure quick water supply in the event of a fire. The connections to the pipes are tapped with hydrant wrenches and hydrant standpipes, and the fire vehicles are then attached. The tops of hydrants are coloured to signify the amount of flow they can produce in gallons per minute (gallon per minute). Over 1,500 gallons per minute in blue (gallon per minute), 1000 to 1,499 gallon per minute in green, 500 to 999 gallon per minute in orange, red indicates that the flow rate is less than 500 gallon per minute.
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Global Fire Hydrant Market: Market Drivers and Trends
The global market for fire hydrant systems is developing as a result of rising service requirements from industrial and commercial clients. Governments around the world have chosen to enforce severe fire safety standards, resulting in an increase in demand for fire hydrant systems.
The global market for fire hydrant systems is predicted to grow at a reasonable rate in the future years. The deployment of smart nodes or wireless sensors is the key trend in the fire hydrant systems industry. The latest market trend is to use less water more efficiently. Wireless sensors, also known as smart nodes, are used in fire hydrant systems to attain such efficiency since maintenance is less expensive and the action is lightning fast.
Global Fire Hydrant Market: Market Restraints and Challenges
The market for fire hydrant systems is quite large, but there are some limitations that must be overcome. The cost of installation and maintenance is the most significant barrier, followed by the need for testing and certifications. Fire prevention technologies that are more efficient and cost-effective are required. Exams and certifications, on the other hand, are unavoidable.
Global Fire Hydrant Market Report Findings
https://www.globalinsightservices.com/reports/fire-hydrant-market/
The dry barrel segment is likely to hold the major share of the market in 2021
Based on product type, it is bifurcated into dry barrel and wet barrel. The dry barrel category is anticipated to hold a considerable part of the fire hydrant industry based on product type. This can be due to the greater use of dry barrel fire hydrants in colder climate locations. Dry barrel hydrants are intended for use in colder climates since the barrels above ground keep dry and the water main is positioned below ground, preventing it from freezing. Furthermore, as fire hydrant systems evolve around the world, manufacturers are merging both the wet and dry barrel qualities to create a hybrid fire hydrant, such as wet-top dry barrel hydrants, that can work in a variety of conditions. This is projected to help the industry even more during the forecast period.
The smart segment is likely to hold the major share of the market in 2021
Based on operating type, the market is bifurcated into conventional, and smart. Because of its superior features, smart fire hydrant accounted for the majority of the market share. Intelligent fire hydrants offer significant opportunities for facility management service companies. Sensors or artificial intelligence can be used to control these hydrants (AI). Key players are utilizing IoT technology to detect fires through the usage of sensors. This accounts for larger market growth throughout the forecast period.
The above ground segment is likely to hold the major share of the market in 2021
Based on construction, the fire hydrant market is bifurcated into underground and above ground. The above ground segment is likely to hold the major share of the market in 2021, as the underground fire hydrants cause too many complications. Hooking up is more difficult; hoses kink, and you have to get down on the ground to work with them. Snakes, black widows, and other insects are getting into them. Snakes, black widows, and other insects will get into them. But above-ground hydrants may be reached and hooked up in under a minute using a five-inch hose. Drop the cap, flush the hydrant, turn it off, connect the hose, and turn it back on when the engine says so and also making the hydrant adapt to smart environment is highly possible in above ground segment. Using it is simple and quick. Due to the reason the above ground segment is expected to grow during the forecast period.
The industrial segment is likely to hold the major share of the market in 2021
Based on end-user, the fire hydrant market is bifurcated into commercial and industrial. The industrial segment is likely to dominate the market during the forecast period. All industries and business entities are obligated to have safety measures on their premises. The increased development of industrial buildings is the primary driver of the fire hydrant market’s expansion.
As the population grows, so does the demand for hospitals, and industries such as oil, gas, and other manufacturing businesses that use volatile substances such as crude oil, flammable gases, and petroleum necessitate the use of fire hydrants due to the increased risk of fire accidents. In addition, rising urbanization, industrialization, and increased awareness of asset safety are driving up demand for fire hydrant resources.
The Asia-Pacific region is accounted for the majority of market share in 2021
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. With the growing population of APAC nations, an increasing number of factories, hospitals, commercial complexes, and residential constructions are projected to be built during the next few years. This clearly reflects the region’s high demand for fire hydrant systems.
Furthermore, the market in Asia Pacific is expected to expand at a significant rate during the forecast period due to the adoption of higher safety practices, an increase in commercial places such as shopping malls and offices, and large piping systems covering longer distances in countries such as China, India, Japan, and other Southeast Asian countries.
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Competitive Landscape
The key players studied in the global fire hydrant market are American Cast Iron Company(U.S.), AVK International A/S(Denmark), Bocciolone Antincendio(Italy), Ej Group, Inc.(U.S.), Imp Armature d.o.o(Solvenia), Kupferle Foundry Company(U.S.), Mueller Co. LLC(U.S.), M&H Valve Company(U.S.), Newage Fire Protection Services Pvt, Ltd.(India), and Rapidrop Global Ltd.(UK).
Global Fire Hydrant Market: Recent Developments
· June 2021, Mueller Water Products has completed the acquisition of i2O Water, a pressure control solution provider. This acquisition would assist the corporation in expanding its software offerings.
· March 2021, McWane purchased Waterman, a well-known reader in water control products for wastewater, water treatment, hydro-power, agricultural, rural water distribution, and flood control management.
· February 2019, AVK purchased a 60% share in AC.MO, a firm that designs and manufactures hydraulic water distribution systems. Under this acquisition, the current owners of AC.MA would be the company’s management and stakeholders.
Global Fire Hydrant Market Report Coverage
· The report offers a comprehensive quantitative as well as qualitative analysis of the current global Fire Hydrant Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
· A thorough analysis of market trends and restraints is provided.
· Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
· The forecasts in this report are made by examining the recent trends along with future global Fire Hydrant Market potential from 2021 to 2031 in terms of revenue.
· Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Fire Hydrant Market are also analyzed.
· Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Fire Hydrant Industry.
Global Fire Hydrant Market Segmentation
By Product Type
· Dry Barrel
· Wet Barrel
By Operating Type
· Conventional
· Smart
By Construction
· Above Ground
· Underground
By End-User
· Commercial
· Industrial
By Region
· North America
o The U.S.
o Canada
o Mexico
· Europe
o UK
o Germany
o France
o Spain
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
· Rest of the World
o Latin America
o Middle East
o Africa
Key Players
• American Cast Iron Company(U.S.)
• AVK International A/S(Denmark)
• Bocciolone Antincendio(Italy)
• Ej Group, Inc.(U.S.)
• Imp Armature d.o.o(Slovenia)
• Kupferle Foundry Company(U.S.)
• Mueller Co. LLC(U.S.)
• M&H Valve Company(U.S.)
• Newage Fire Protection Services Pvt, Ltd.(India)
• Rapidrop Global Ltd.(UK)
