Press release
(6.2% CAGR) Fire Pump Controllers Market to Hit USD 289.32 Million by 2028
The Insight Partners
Fire Pump Controllers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Electric Fire Pump Controller and Diesel Fire Pump Controller) and End-User (Industrial, Commercial, and Residential)
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The growing demand for fire pump controllers market has compelled the players to boost their investment in developing new and innovative product offerings. A few of the major product developments are mentioned below:
- In August 2021, Armstrong Fluid Technology unveiled its design envelope fire pump unit and a fire pump manager, a new connected service to track pump performance. The new design envelope fire pump is the first self-regulating variable-speed fire pump that meets NFPA-20 (2019 Edition), Section 4.8 standards. Also, it is reliable and safe, supported by real-time and historical test and performance data.
- In January 2020, Metron released its new FD5 Series, a microprocessor-based fire pump controller with a touchscreen display. It is compact and lightweight, making it ideal for commercial use. Also, it meets NFPA20, UL218, and FM 1321/1332 standards for diesel engine fire pump controllers.
- In December 2019, Tornatech announced the upgrade of its fire pump controllers. From January 2020, all Tornatech Model GPL and GPL+GLU controllers have been manufactured and equipped with various features such as an externally operable circuit breaker, a continuous rating of 115% of fuzzy logic controller (FLC), non-thermal type, and a quick trip of 20 times the FLC. Also, it has locked rotor protection and runs a test solenoid valve.
ComAp AS, Eaton Corp Plc, and Hubbell Inc are among the key players profiled during this study on the fire pump controllers market. Several other important market players were analyzed during the course of this market research study to get a holistic view of the global fire pump controllers market size and its ecosystem.
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The impact of the COVID-19 pandemic on the construction industry has been severe. Before the COVID-19 pandemic, the construction industry was prevalent, owing to the rising global population and the growing construction of manufacturing facilities. The population in metro cities was continuously rising, propelling the need for infrastructure development. However, in 2020, the COVID-19 pandemic disrupted the entire construction industry with the cancellations and postponements of several construction projects. The downfall in the construction industry negatively impacted the growth of the fire pump controllers market. Furthermore, governments diverted their focus from development activities to healthcare. Thus, the overall impact of the COVID-19 pandemic on the fire pump controller market was negative in 2020. Further, in 2021 and 2022, the relaxation of lockdown measures and resumption of construction activities in urban areas positively impacted the fire pump controllers market. According to the World Bank Group data, by 2045, the global urban population will increase to 6 billion. Due to the increase in the urban population, the demand for residential and commercial construction will also increase. Also, the growing construction of power plants, fuel storage facilities, manufacturing facilities, and warehouses will drive the fire pump controllers market growth during the forecast period.
The Europe market is highly fragmented due to the presence of a large number of vendors operating across different European countries. The presence of vendors such as Grundfos Pumps Ltd, Stuart Group Ltd, Action Pumps Ltd, ComAp Control Ltd., SVE Corp, AquaGuard Pumps, Eaton, Pure Power, and Xylem UK is further catalyzing the growth of the fire pump controllers market size. These companies are collaboratively working with industrial facilities to understand their respective customers' demands and provide a reliable solution to remain competitive in the fire pump controllers market share. Moreover, the collaboration and acquisition strategies followed by these companies are leading to higher consolidation of the regional fire pump controllers market share. In April 2022, Johnson Controls announced that it had acquired Powertec Pumps Ltd to enhance its fire pump products portfolio in the fire suppression sector.
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