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Fire Hydrants Market Opportunities & Challenges in Latest Research Report By 2030
Fire Hydrants Market
The global fire hydrants market size was $1.1 billion in 2020, and is expected to reach $1.8 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.
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The conventional fire hydrant segment accounted for the highest market share in 2020, and is expected to grow at a substantial CAGR during the forecast period. In terms of construction, the underground segment is expected to contribute for the highest fire hydrants market share in the coming years. Moreover, increase in emphasis on smart fire hydrants is expected to provide wide growth opportunities to key players globally.
The global fire hydrants market to avert their business processes due to the lockdown imposed by governments around the world to reduce exponential spread of the deadly virus. This break in operations directly affects the market. Besides, there is a shortage of raw material and shortage of manpower and capital. Furthermore, the COVID-19 has already affected the fire hydrants industry in the first half of 2020 and is likely to cause a negative impact on the market growth throughout the year. Further, after this pandemic ends and the current situation steadies, fire hydrants manufacturers will have to scale up services to adopt the companies after lockdown.
Asia-Pacific is expected to exhibit highest fire hydrants market growth rate during the forecast period, owing to presence of various manufacturing industries in the region. Major players have focused on developing new products to strengthen their presence in the market. Moreover, these companies expand their business by acquiring small businesses to sustain intense competition. For instance, in June 2018, Mueller launched the Super Centurion A-403 Fire Hydrant. The new fire hydrant features two-piece ductile iron upper barrel with a nozzle section. In addition, the hydrant is designed, especially for installation and maintenance by one person.
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Report Highlights by Segments:
By Product Type -
Dry Barrel
Wet Barrel
By OPERATING TYPE -
Conventional
Smart
By END USER
Commercial
Industrial
Major Players:
The key players profiled in the Fire Hydrants Market report include American Cast Iron Company AVK International A/S, Compagnie De Saint -Gobain S.A., EJ Group, Inc, Kupferle Foundry Company, McWane, Inc, Mueller Water Products, Inc, Talis Management Holding GmbH, Terminal City Iron Works Ltd, Bocciolone Antincendio S.P.A., CSA S.R.L., HAWLE BETEILIGUNGSGESELLSCHAFT G.m.b.H., IMP Armature D.O.O., Rapidrop Global Ltd, Newage Fire Fighting Co. Ltd, NT Agni Solutions Pvt Ltd, Shaoxing Shangyu Hongye Fire Protection Equipment Factory (HONGYE), Smith & Sharks Projects Pvt Ltd, Steel Recon Industries SDN. BHD., Torvac Solutions PTY Ltd, ALBILAD Fire Fighting Systems Company, Ltd, Bristol Fire Engineering, NAFFCO FZCO, and SFFECO Global.
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