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Global Fire Hydrant Market to Grow at a CAGR of 4.95% During 2022-2027, Aided by the Rising Urbanisation and Industrialisation

According to a new report by EMR titled, ‘Global Fire Hydrant Market Report and Forecast 2022-2027’, the the global market for fire hydrant attained a value of about USD 1178.9 million in 2021. The industry is further expected to grow at a CAGR of 4.95% between 2022 and 2027 to reach a value of around USD 1575.3 million by 2027.

The heightened urbanisation and industrialisation are driving the global fire hydrant industry. The construction of informal settlements in cramped areas without proper fire safety mechanisms, which could lead to a potential urban fire disaster, is supporting the market. Moreover, governments are increasingly investing in the strategic development and implementation of fire safety strategies in the construction of industrial and commercial buildings, which is expected to spearhead the growth of the fire hydrant industry.

The growing focus of the leading players in developing fire hydrant mechanisms by applying advanced technological solutions is expected to significantly catalyse the industry growth in the forecast period. In December 2021, Mueller Systems, a subsidiary of Mueller Water Products (NYSE: MWA), has announced the launch of a New Sentryx software enabled Super Centurion hydrant. This technology would help improve pressure and leak monitoring systems through a scalable, cloud-based software that would record and provide data from the hydrant, allowing users to make necessary decisions while also decreasing the operational costs. In addition, another leading fire hydrant manufacturer American Water Works Company Inc. (NYSE: AWK), in June 2020, announced the start of water flushing conducted by the New Jersey American Water, a subsidiary of AWK, in the South Orange village. Hydrant flushing would help in checking the proper functioning of hydrants while also helping in the removal of impurities, dirt, and debris collected in the pipes. This would also help clean the entire area's water supply through hydrants, further increasing their utility. These developments are expected to positively impact the fire hydrants industry in the forecast period.

Market Breakup by Product Type, Operating type, Construction, End-user, and Region:

  • The market is bifurcated based on product type into dry barrel and wet barrel.
  • On the basis of operating type, the market can be divided into conventional and smart.
  • Based on construction, the industry is segregated into underground and above ground.
  • The industry is branched, on the basis of end-user, into commercial and industrial.
  • Region-wise, the global market for fire hydrant can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for fire hydrants is being driven by rapid urbanisation and industrialisation.
  • The increasing incidences of urban fire have significantly contributed to the market expansion.
  • The increased government initiatives to implement the usage of fire hydrant systems are also aiding the industry growth.
  • The rising technological advancements and development in the manufacturing of hydrants such as smart hydrants are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for fire hydrant for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types, operating types, construction, end-users, and major regions of fire hydrants.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fire hydrant market are American Cast Iron Pipe Company, AVK Holding A/S, EJ Group Inc, and Kupferle Foundry Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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