Fire Hydrants Market Size, Industry Analysis Report By Product (Dry Barrel, Wet Barrel), By Operating Type (Conventional, Smart), By Construction (Underground, Aboveground), By End-User (Commercial, Industrial) & Region – Forecast By 2030
- PUBLISHED ON
- 1970-01-01
- NO OF PAGES
- 262
- CATEGORY
- Machinery & Heavy Industry
The Fire Hydrants Market is valued at around USD 1,133.3 million in 2022 and is expected to reach USD 1,775.1 million by 2030, registering a CAGR of 4.3% over the forecast period.
Market Growth Factor
Because industrial and commercial customers have higher standards for service, the market for fire hydrant systems is growing globally. Globally, governments have chosen to impose stringent fire safety laws, which has increased demand for fire hydrant systems. In the upcoming years, it is anticipated that the global market for fire hydrant systems will grow at a reasonable rate.
Market Trends
• Globally, rapidly escalating urbanisation is a major contributor to fires, and by 2050, two-thirds of the world's population would reside in urban areas.
• This is causing a number of problems, including fire hazards. A significant urban fire risk is also being created by the informal construction of commercial and residential structures, which do not adhere to the regulatory standards for fire safety and precautions.
• This is especially true in areas with dense populations. In this regard, governments are spending more money on infrastructure planning and development, using materials that are fire-resistant and adding fire hydrant systems.
Market Segmentation
The Fire Hydrants Market fragrance concentrates market has been sub-classified into product type, operating type, construction, end-user.
On The Basis Of Product Type, The Fire Hydrants Market Is Bifurcated Into:
• Wet barrel
• Others
On The Basis Of Operating Type, The Market Is Segmented Into:
• Conventional
• Smart
• Others
On The Basis Of Construction, The Market Is Segmented Into:
• Underground
• Aboveground
• Others
On The Basis Of End-User, The Market Is Segmented Into:
• Commercial
• Industrial
• Others
Market Regional Analysis
North America dominated the global Fire Hydrants Market, is anticipated to hold a sizable portion of the global fire hydrant market. This can be attributed to the strict rules established by the local government and other regulatory bodies.
Key Market players
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
he Fire Hydrants Market is valued at around USD 1,133.3 million in 2022 and is expected to reach USD 1,775.1 million by 2030, registering a CAGR of 4.3% over the forecast period.
What are the drivers shaping various markets?
Industrial and commercial customers have higher standards for service, the market for fire hydrant systems is growing globally. Globally, governments have chosen to impose stringent fire safety laws, which has increased demand for fire hydrant systems.
Who are the key competitors of market Players?
Some of the major players operating within the market are American Cast Iron Pipe Company, AVK International A/S (AVK Holding A/S), Bocciolone Antincendio S.p.a., EJ Group Inc., Hawle Valves India Private Limited, IMP Armature d.o.o., McWane International, Mueller Co. LLC (Mueller Water Products Inc.), Naffco Fzco, NewAge Fire Protection Industries Pvt. Ltd and Rapidrop Global Ltd., and others.
What are the top performing segments, and countries / regions of each of the markets?
North America dominated the global Fire Hydrants Market.
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