Fire Hydrants Market Growth, Trends and Report Highlights
According to a new report, published by KBV research, The Global Fire Hydrants Market size is expected to reach $1.4 billion by 2027, rising at a market growth of 4.2% CAGR during the forecast period.
The Dry Barrel segment has acquired maximum revenue share in the Global Fire Hydrants Market by Product Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $992.6 million by 2027. These types of fire hydrants are mainly used in frosty places. This is because the two drain outlets are placed slightly above the main water level on the dry barrel fire hydrant. A major factor resulting in the growth of this segment is continuous urbanization.
The Smart segment has high growth rate of 6.7% during (2021 - 2027). The increased demand for advanced technologies such as artificial intelligence (AI), the internet of things (IoT) is further increasing the demand for smart fire hydrants in the market.
The Above Ground segment is leading the Global Fire Hydrants Market by Construction 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $974 million by 2027. These hydrants are positioned above the street level. The main factor driving the growth of this segment is that the above ground fire hydrants are easy to find and are comparatively fast. Also, these are available in stainless steel material which can easily be fitted into the urban landscape.
The Industrial segment is showcasing a CAGR of 5.7% during (2021 - 2027). The growth of this segment is rising continuously because of the increased focus of manufacturers on new product innovations, and the rise in construction activities. The installation of heavy machinery needs heavy investment which all can be destroyed within seconds due to fire accidents which arises the need of fire hydrants systems in industrial sector.
The North America is fastest growing region in the Global Fire Hydrants Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $480.3 million by 2027. The Europe market is estimated to grow at a CAGR of 4% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 4.5% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/fire-hydrants-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Rapidrop Global Ltd., TALIS Beteiligungs GmbH (Triton Investments Advisers LLP), Mueller Water Products, Inc., McWane, Inc., The Kupferle Foundry Company, EJ Group, Inc., AVK Holding A/S, American Cast Iron Pipe Company, SFFECO Global, and Saint-Gobain Group.
Global Fire Hydrants Market Segmentation
By Product Type
• Dry Barrel
• Wet Barrel
By Operating Type
• Above Ground
• Under Ground
By End User
• Rest of North America
• Rest of Europe
• South Korea
• Rest of Asia Pacific
• Saudi Arabia
• South Africa
• Rest of LAMEA
• Rapidrop Global Ltd.
• TALIS Beteiligungs GmbH (Triton Investments Advisers LLP)
• Mueller Water Products, Inc.
• McWane, Inc.
• The Kupferle Foundry Company
• EJ Group, Inc.
• AVK Holding A/S
• American Cast Iron Pipe Company
• SFFECO Global
• Saint-Gobain Group