Global Fire Pump Market: Analysis and Forecast (2016-2026) - Growing at a CAGR of 4.5%

Global Industry Analysis

The global fire pump market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2016 to 2026. The market is driven by various factors, including the growing construction industry, increasing demand for fire protection systems, and government regulations mandating the installation of fire protection equipment in buildings. Moreover, the rising number of natural disasters and industrial accidents has increased the need for fire pumps in various applications, including industrial, commercial, and residential settings.

The demand for fire pumps is expected to increase soon as a result of rapid industrialization. A fire pump is the water supply component of a fire sprinkler system and is powered by steam, diesel or electricity. Both static water sources (tanks, lakes, reservoirs, etc.) and groundwater supply pipes are connected to fire pumps. They are usually connected to static water sources such as tanks, reservoirs, lakes, and public groundwater supply pipes. Fire pump machines provide high pressure water flow to fire sprinkler systems.

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The fire pump activates when the fire sprinkler pressure drops below a given set point (threshold). An adequate number of fire pumps should be installed depending on the occupancy risk and the specific requirements of the fire fighting equipment. Most fire pumps are listed, inspected, and certified by accredited organizations and qualified laboratories. According to numerous research reports on January 1, 2020, the fire pump market is expected to grow significantly during the forecast period.

Dynamic:

Rising fire rates in manufacturing facilities and residential areas have increased the demand for fire pumps in recent years. Increased industrialization around the world is expected to increase the demand for fire pumps during the forecast period.

A growing manufacturing sector is expected to increase the demand for fire pumps and is anticipated to drive the global fire pump market during the forecast period. The oil and gas industry is expected to experience significant growth in the near future and will be another driving force for the fire pump market.

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Segmentation:

Global fire pumps are segmented based on horsepower to operate as electric fire pumps, diesel fire pumps, steam turbines, and duplex fire pumps. The global fire pump market can also be segmented based on product types such as Horizontal Split Case, Vertical Split Case, Vertical Inline, Vertical Turbine, and End Suction.

The global market for fire pumps can also be segmented based on applications such as irrigation, sludge treatment, wastewater, boiler water supply, and stormwater treatment.

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Regional Perspectives:

The global fire pump market can be segmented based on geography such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, Middle East, and Africa. North America is expected to dominate the global fire pump market during the forecast period. Furthermore, Europe is expected to account for a significant share of the global fire pump market from 2016 to 2026.

However, Europe is expected to lose some share due to high growth in Asia-Pacific during the forecast period. North America is expected to experience steady growth due to slow growth in end-use industries. Revenue generated from sales of fire pumps in the Middle East and Africa is also projected to grow at a high CAGR during the forecast period. 

Market players

Major players identified in the global fire pump market value chain include Pentair Ltd., Cet Fire Pumps MFG inc., Xylem Inc., Grundfos Pumps Corporation, Armstrong Fluid Technology, Talco Fire Systems, Waterous, NAFFCO, Canariis Corporation and Eaton. much more.

Companies are focusing on research and development and new product development to maintain their competitive edge in the global fire pump market during the forecast period. To meet the growing demand for fire pumps, companies around the world are seeking certification to expand their product portfolios and strengthen their sales strategies.

The research report presents a comprehensive assessment of the market and includes in-depth information, facts, historical data, and statistically supported and industry-validated market data.

The regional analysis includes

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, United Kingdom, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia, New Zealand)
• Japan
• Middle East and Africa (GCC, South Africa, North Africa)

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This release was published on openPR.