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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.
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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.
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