Fire Hydrant System Market Size, Share, Opportunities, And Trends By Product Type (Dry Barrel, Wet Barrel), By Operation Type (Smart Fire Hydrant, Conventional Fire Hydrant), By End-User (Industrial, Residential), And By Geography - Forecasts From 2023 To 2028

Market Overview:

Fire hydrant systems in many businesses or manufacturing facilities are essential instruments for putting out a fire. A water pressurizing system that is disseminated throughout the building via pipes and hoses makes up the fire hydrant market. The rise in service requirements from business clients and industrial users is responsible for the expansion of the fire hydrant market. The UK government's fire and rescue services responded to 555,358 incidents in 2021, up 5% from 2020 (Source: gov.uk). Governmental adoption of stringent fire safety requirements is further boosting demand for fire hydrant systems.

Growth factors:

• Innovation in fire hydrant systems will drive the growth

In the upcoming years, it is anticipated that the global market for fire hydrant systems would grow at a reasonable rate. The use of smart nodes or wireless sensors is the main trend in the market for fire hydrant systems. Fire hydrant systems employ wireless sensors or smart nodes to increase efficiency while using less water. Additionally, the maintenance costs for these safety systems are low, and they react quickly. The market for safety systems currently has a huge potential because of the serious repercussions associated with installing fire hydrant systems in businesses and organizations. For instance, with a smart device it created for fire hydrants, the Israeli company HydrantTech hopes to cut water waste by warning authorities of leaks, water theft, or nefarious attempts to compromise a water supply. The sensor-encircled, metal smart device created by HydrantTech attaches to a hydrant's mouth. Data is gathered and transferred to the cloud, where notifications are delivered to individual operatives' phones or control systems so they may go solve the issue.

• Urbanization and Growing Industrialization Will Boost the Global Fire Hydrant Market's Growth

Approximately 4.4 billion people, or 56% of the world's population, now reside in cities. The number of people living in cities is expected to more than double by 2050 when almost 7 out of 10 individuals will do so. Rising Industrialisation and Urbanisation are causing several problems, including fire concerns. Significant urban fire danger is also being created by the informal construction of commercial and residential structures, which do not adhere to the regulatory criteria for fire safety and safeguards. This is especially true in places with dense populations. In this regard, governments are spending more money on infrastructure design and development, using materials that are fire-resistant and adding fire hydrant systems. Urbanization can support the sustainable growth of the fire hydrant market through greater productivity and innovation because more than 80% of the world's GDP is produced in cities (source: world bank data).

• An industrial segment to have a significant growth

The commercial and industrial segments of the world market for fire hydrants are based on end users. In business areas, fire hydrants seem to be waiting to be used on the side of the road. Increased urbanization, a boom in commercial construction, and a rise in asset protection awareness are all contributing to the segment's growth. To compete with rivals in the fire hydrant market, industry participants concentrate on new product innovations and improvements by combining cutting-edge technologies and features. A new version of the Crotone underground hydrant, the EUR-PRO, was first produced by Bocciolone Antincendio in November 2021. This new kind, which takes the place of the former EUR variation, is offered in DN 65 and DN 80 diameters.

Key Developments:

• June 2021: i2O Water, Ltd., a developer of pressure control solutions, was purchased by Mueller Water Products, Inc. for about $20 million. By offering clients solutions that let them instrument, analyze, and control water networks to reduce leakage, lower energy consumption, and improve supply, more than 100 water firms in more than 45 countries worldwide receive intelligent water networks from i2O Water. This helps to reduce water loss.
• January 2020: The acquisition of Safire, a significant Korean fire prevention engineering firm, was announced by Jensen Hughes, a global leader in safety, security, and risk-based engineering and consulting. The acquisition of Safire by Gryphon Investors portfolio company Jensen Hughes increases the company's core fire engineering business in Korea and gives it a platform to expand its fire protection engineering business throughout other Asia-Pacific markets.
• December 2020: The Mueller Super Centurion hydrant now, according to Mueller’s announcement, can act as a physical platform for pressure monitoring and leak monitoring devices as well as a communications hub. Mueller's pressure and leak monitoring systems can connect to the cloud-based Sentryx Water Intelligence Platform through the cellular network and can be integrated into the current water infrastructure.

COVID-19 Impact

The COVID-19 pandemic has compelled several businesses in the global fire hydrant market to temporarily suspend operations to abide by new government restrictions intended to stop the disease's spread. The global market's growth is immediately impacted by this halt in operations in terms of revenue flow. Additionally, due to a shortage of labour and raw materials during the lockdown, production of fire hydrants has ceased. As a result, the worldwide fire hydrants market analysis has been impacted by the suspension of construction operations and prolonged lockdowns, and a gradual recovery is projected throughout the forecast period. Additionally, as a result of the introduction of the COVID-19 vaccination, the number of cases is declining. Additionally, it is anticipated that this would result in fire hydrant businesses restarting at full capacity, which will help the fire hydrant industry recover.

Fire Hydrant System Market Scope:

Segmentation:

• By Product Type
  • Dry Barrel
  • Wet Barrel
• By Operation Type
  • Smart fire hydrant
  • Conventional fire hydrant
• By End-User
  • Industrial
  • Residential
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • Isreal
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others