Dublin, May 06, 2022 (GLOBE NEWSWIRE) — The “Analysis Report of the Global Fire Hydrants Market Size, Share, and Trends Worldwide by Product Type, By Operation Type, By Construction, By End-User (Commercial & Industrial), By regional outlook and forecast, 2021-2027” report has been added to from ResearchAndMarkets.com offer.
The global fire hydrant market size is expected to reach USD 1.4 billion by 2027, growing the market at a CAGR of 4.2% during the forecast period.
A fire hydrant system is an effective way to put out the fire which can lead to heavy destruction. The systems are capable of fighting the fire from a long distance due to the large piping system. Fire hydrant systems cover every point of the building due to which it has comparatively more penetrating capabilities. Valves for a fire hydrant are placed throughout the building, making it very accessible. It is important for fire safety service providers that the water source is quickly accessible. Hydrant systems provide a place to store and supply water. In addition to this, it is important to have a readily available secondary source to use when the water is depleted to a great extent. For such a situation, fire hydrants also keep in underground pipes.
Hydrants are an essential tool for any industry or manufacturing plant to control fire in an emergency. Mechanical devices are normally placed outside a building connected to any water distribution network. In addition, the internal fire hydrant is installed in certain parts of a building where the exterior cannot reach or protect. Usually, a fire hydrant system consists of a water pressurization system that is distributed throughout the building using pipes and hoses.
The diesel model uses diesel as the fuel for the operation of the hydrant system, the electric model uses electricity, and the hybrid system uses both electricity and diesel. All industries and businesses are required to have security measures on their premises. The increasing construction of commercial and industrial buildings is the major factor responsible for the growth of the fire hydrant market.
Increase in population resulting in high demand for hospitals, business complexes etc., industries like oil, gas and various manufacturing industries that involve flammable substances like crude oil, flammable gas and oil require basically fire hydrants because they have more risk of fire accidents. Additionally, increasing urbanization, industrialization, and increased asset safety awareness are increasing the demand for fire hydrant resources.
COVID-19 Impact Analysis
The COVID-19 pandemic has affected various industries in one way or another. The fire hydrant market has had a negative impact during the pandemic. Various companies have been forced to stop their activities for a short time due to new government regulations to limit the effect of diseases. Furthermore, lesser availability of raw materials and labor has also negatively affected the growth of the market. Construction activities have also been restricted in various countries, which has led to a drop in demand for fire hydrants.
However, as the cases are reduced, the government has lifted restrictions on construction, and the opening of various offices and other buildings will help the hydrant market return to growth.
Market Growth Factors:
Risk of human life associated with fire accidents
Human life is considered the most valuable asset in the world. Increasing industrialization is also increasing the occurrences of site fires, which can lead to loss of life as well as damage to property and assets. A large number of people lose their lives in fires. According to information from the World Health Organization, approximately 18,000 people die each year from burns and this occurs mainly in low and middle income countries.
According to research conducted by the National Fire Protection Association (NFPA), in the United States, the fire department recorded an increase in the number of fire cases across the United States in 2016. They also added that approximately 3390 people lost their lives and a large number of people were seriously injured due to these fires.
Construction sector growth
The construction sector is responsible for the immense growth due to the increasing infrastructure project in recent years. Also, the government of different nations are taking many initiatives which are expected to further increase the construction activities across the world. This growth in the construction industry and building design leads to the development of more advanced construction methods, professional designs, and technologies capable of providing safety against unexpected fires.
The construction of shopping malls, hotels and housing continues to increase in developing countries. Moreover, residential buildings and smart city projects are increasing due to the expanding population in the world. All these new buildings should require fire safety and therefore should deploy the fire hydrants.
Marketing Restriction Factor:
Heavy investments in implementation and maintenance
Companies are required to invest large sums in the installation of fire hydrant systems. Due to the increase in fire accidents, fire safety vendors are making continuous progress in the existing solution and also introducing the latest technologies and products. The investment of large quantities by manufacturing companies increases the costs of purchasing these solutions such as fire hydrants for private and government organizations. In addition, hydrants should be regularly inspected and tested to ensure that they are working properly and should also be maintained regularly, which is expected to result in recurring maintenance costs for hydrant systems.
Main topics covered:
Chapter 1. Market Scope and Methodology
Chapter 2. Market Overview
22.214.171.124 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints
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 Type of Operation
5.1 Global Conventional Market by Region
5.2 Global Smart Market by Region
Chapter 6. Global Fire Hydrant Market by Construction
6.1 Global Soil Market by Region
6.2 Global Underground 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. Business 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 Strategies and recent developments:
126.96.36.199 Product launches and product extensions:
188.8.131.52 Acquisitions and mergers:
9.4 McWane, Inc.
9.4.1 Company Overview
9.4.2 Strategies and recent developments:
184.108.40.206 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 Strategies and recent developments:
220.127.116.11 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 and engineering costs
For more information on this report, visit https://www.researchandmarkets.com/r/fy7pk7