According to a new report published by Allied Market Research, titled, “Fire Hydrants Market by Product Type, Operating Type, Construction, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global fire hydrants market size was $1.1 billion in 2020, and is expected to reach $1.8 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030. In 2020, the conventional fire hydrants segment dominated the global market, in terms of revenue, accounting for over four-fifths share of the global market.
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Fire hydrants are vital tools essential for any industry or industrial plant to regulate fire in case of fire or related disasters. Typically, a fire hydrant comprises a water pressurizing system, which is distributed all over a building using hoses and pipes. The fire hydrants market is competitive, owing to a huge level of fragmentation in the industry. In spite of the fragmentation, the industry is chiefly linked by regulatory conditions for operation and establishment. The key factor that drives of the market include rise in industrial activities and commercial construction activities globally.
The conventional fire hydrant segment accounted for the highest market share in 2020, and is expected to grow at a substantial CAGR during the forecast period. In terms of construction, the underground segment is expected to contribute for the highest fire hydrants market share in the coming years. Moreover, increase in emphasis on smart fire hydrants is expected to provide wide growth opportunities to key players globally.
Asia-Pacific is expected to exhibit the highest fire hydrants market growth rate during the forecast period, owing to the presence of various manufacturing industries in the region. Major players have focused on developing new products to strengthen their presence in the market. Moreover, these companies expand their business by acquiring small businesses to sustain intense competition. For instance, in June 2018, Mueller launched the Super Centurion A-403 Fire Hydrant. The new fire hydrant features a two-piece ductile iron upper barrel with a nozzle section. In addition, the hydrant is designed especially for installation and maintenance by one person.
The global fire hydrants market to avert their business processes due to the lockdown imposed by governments around the world to reduce ethe xponential spread of the deadly virus. This break in operations directly affects the market. Besides, there is a shortage of raw material and shortage of manpower and capital. Furthermore, the COVID-19 has already affected the fire hydrants industry in the first half of 2020 and is likely to cause a negative impact on the market growth throughout the year. Further, after this pandemic ends and the current situation steadies, fire hydrants manufacturers will have to scale up services to adopt the companies after lockdown.
The key players profiled in the Fire Hydrants Market report include American Cast Iron Company AVK International A/S, Compagnie De Saint -Gobain S.A., EJ Group, Inc, Kupferle Foundry Company, McWane, Inc, Mueller Water Products, Inc, Talis Management Holding GmbH, Terminal City Iron Works Ltd, Bocciolone Antincendio S.P.A., CSA S.R.L., HAWLE BETEILIGUNGSGESELLSCHAFT G.m.b.H., IMP Armature D.O.O., Rapidrop Global Ltd, Newage Fire Fighting Co. Ltd, NT Agni Solutions Pvt Ltd, Shaoxing Shangyu Hongye Fire Protection Equipment Factory (HONGYE), Smith & Sharks Projects Pvt Ltd, Steel Recon Industries SDN. BHD., Torvac Solutions PTY Ltd, ALBILAD Fire Fighting Systems Company, Ltd, Bristol Fire Engineering, NAFFCO FZCO, and SFFECO Global.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging fire hydrants market trends and dynamics.
- Depending on product type, the dry barrel segment dominated the market, in terms of revenue in 2020 and others is projected to grow at a substantial CAGR during the forecast period.
- By operating type, the conventional-segment registered highest revenue in 2020.
- Depending on construction, the above ground segment dominated the market, in terms of revenue in 2020 and is projected to grow at a substantial CAGR during the forecast period
- Depending on end-user, the commercial segment dominated the market, in terms of revenue in 2020 and is projected to grow at a substantial CAGR during the forecast period.
- The key players within the fire hydrants industry are profiled region-wise in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market.
- The report provides an extensive analysis of the fire hydrants and emerging opportunities of the market.
- In-depth fire hydrants market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.
- The global fire hydrants market forecast analysis from 2021 to 2030 is included in the report.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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