In 2022, it is expected that the market for fire hydrant systems will be worth US$1,344.2 Million. Sales of Fire Hydrant Systems are anticipated to increase at a CAGR of 3.2% from 2022 to 2032, reaching a value of US$ 1.8 billion.
With the expanding population of APAC nations, an increasing number of factories, hospitals, commercial complexes, and residential structures are likely to be developed during the next several years. This undoubtedly points to the region’s overwhelming demand for fire hydrant systems.
Because of increased service expectations from industrial and commercial clients, the global market for fire hydrant systems is expanding. Governments around the world have chosen to enforce strict fire safety regulations, resulting in an increase in demand for fire hydrant systems.
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With the expanding population of APAC nations, an increasing number of factories, hospitals, commercial complexes, and residential structures are likely to be developed during the next several years. This undoubtedly points to the region’s overwhelming demand for fire hydrant systems.
Because of the tight consequences for installing fire hydrant systems in enterprises and organizations, the market for such safety systems has a lot of potential in the near future. The Startup India initiative in India has resulted in an increase in the number of startups, which will undoubtedly need the incorporation of more fire safety equipment in the future years.
Furthermore, owing 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, the market in Asia Pacific is expected to expand at a significant rate during the forecast period.
The global market for fire hydrant systems is expected to grow at a reasonable rate in the coming years. The adoption of smart nodes or wireless sensors is the primary trend in the fire hydrant systems market. 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 achieve such efficiency because maintenance is less expensive and the action is lightning fast.
Market Competition
During the forecast period, major players in the worldwide fire hydrant market are projected to confront severe rivalry. Companies are also pursuing mergers and acquisitions in order to improve their performance and outcomes. The following companies are major participants in the worldwide fire hydrant market:
- Tyco Fire Products
- K.B. Building Solutions
- ZedEx Fire Services
- Fire Hydrant Systems Pty Ltd
- Akash Uni Safe Equipment
- Waterous
- Smith & Sharks
- Minimax
- Naffco
- Kennedy Valve
- Angus Fire
- Rapidrop
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Key Segments Profiled in the Fire Hydrant Systems Industry Survey
Fire Hydrant Systems Market by Product Type:
- Wet Barrel Fire Hydrant Systems
- Dry Barrel Fire Hydrant Systems
Fire Hydrant Systems Market by Operation:
- Diesel-operated Fire Hydrant Systems
- Electric-operated Fire Hydrant Systems
- Hybrid-operated Fire Hydrant Systems (Diesel/Electric)
Fire Hydrant Systems Market by End Users:
- Fire Hydrant Systems for Industrial Use
- Fire Hydrant Systems for Commercial Use
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