The Fire Hydrant market size is projected to reach US$ 2,423.82 million by 2031 from US$ 1,667.15 million in 2023. The market is expected to register a CAGR of 4.8% in 2023–2031.
Fire Hydrant is an exclusive storage facility used to store temperature-sensitive goods or products, often perishable items, including frozen foods, fresh produce, and pharmaceutical products. Fire Hydrant facilities help to ensure the integrity, freshness, and safety of perishable products.
The rising consumer preference for processed and easy-to-cook canned food boosts the demand for Fire Hydrant facilities. In addition, the growing adoption of omnichannel grocery shopping and the proliferation of online shopping are also benefitting the Fire Hydrant market globally. Consumers are considering online shopping for groceries as it is safe and helps save time. The booming food & beverages sector, due to growing demand for canned and frozen food products, along with development in the pharmaceutical sector, is also propelling the global fire hydrant market.
The market growth is ascribed to the surge in urbanization and commercial and industrial buildings along with widespread awareness regarding asset protection. The rise in government regulations encouraging the installation of fire protection systems in residential and non-residential buildings is likely to catalyze the fire hydrant market expansion in the coming years. In smart fire hydrants, sensors, or artificial intelligence (AI) can be used to control the systems.
Fire hydrant systems are critical tools that are needed in various companies or manufacturing plants to extinguish a fire. A fire hydrant system consists of a water-pressurizing system dispersed throughout the structure via pipes and hoses. These systems include water storage tanks, pumps, pipelines and valves, fire brigade boosters, hydrant, landing valves, coupling, lay-flat fire hoses, and block plans. The principle of pressure drop governs the operation of fire hydrant systems. The water pressure drops when the operator opens the hydrant valve. The pressure switch activates the booster pump to counteract this effect, which takes more water from the source to raise the system's pressure. This pressurized water, with 7–10 bar pressures, is then directed to the origin of the fire to put it out. The fire hydrant systems are classified on the basis of their drive configurations, such as diesel, electric, and hybrid drive systems. The diesel, electric, and hybrid drive models use diesel, electricity, and a combination of both as fuel, respectively, for the operation of the fire hydrant system. Further, these systems can be made much more effective by automating them, as one or two people are always required to handle a fire hydrant system.
The growth of the fire hydrant market is attributed to the rapidly growing construction industry with the growing global population and urbanization. The countries, including Mexico, the US, Canada, Germany, and France, have shown significant investments in new construction and infrastructure development projects with government support and initiatives. Rising in construction work across residential, and commercial sectors owing to growing urbanization is driving the growth of the fire hydrant market growth.
The global market for residential buildings including new construction, renovation buildings, and remodeling, was valued at US$ 6.80 trillion in 2022 according to the Ceramics Organization Report. Government bodies are putting additional emphasis on strengthening construction and infrastructural development, which is further enduring the demand for the fire hydrant market. As per the Global Construction 2030, it is estimated that the volume of construction output will increase by 85% to US$ 15.5 trillion by 2030 worldwide. The US, Japan, and India are contributing to have the largest share and are growing with the highest CAGR during the forecast period. Moreover, investment to renovate old buildings and structures and increasing government rules and regulations towards safety of the buildings, which is further nurturing the fire hydrant market growth.
Smart fire hydrants allow water management to stay ahead of the problems by offering a complete picture of their distribution networks. With this knowledge, utilities may save money by preventing issues and gaining customer loyalty by making their lives easier. The smart hydrant can save money by detecting leaks significantly more rapidly and efficiently than current approaches. Even though utilities regularly monitor known trouble sites like major junctions, a minor leak can go undetected for long periods until it gets large enough to interrupt water pressure, erode pavement, or trigger a significant pipe break. A smart hydrant can enable system-wide monitoring daily. Allowing leak detection staff to work more efficiently can also help the utility lower its carbon footprint. Unauthorized hydrant openings can also be detected by smart hydrants, which can inform utilities. Smart fire hydrants could make a substantial dent in the amount of water wasted due to utility system leaks, but there is still the matter of individual water use to consider.
Key segments that contributed to the derivation of the fire hydrant market analysis are product type, operating type, construction, and application.
The geographic scope of the Fire Hydrant market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific comprises developing economies such as China, India, Singapore, and Vietnam, along with other southeast countries, and developed economies such as Japan and Australia. The manufacturing industries in Asian countries are expanding exponentially. Furthermore, rising investments in the construction industry from government bodies of India, China, and other Asia Pacific countries will accelerate the growth of industrial, residential, and commercial sectors, thereby creating significant growth opportunities for the fire hydrant market players.
The regional trends and factors influencing the Fire Hydrant Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fire Hydrant Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1,667.15 million |
| Market Size by 2031 | US$ 2,423.82 million |
| Global CAGR (2023 - 2031) | 4.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Fire Hydrant Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Fire Hydrant Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Fire Hydrant market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
The “Fire Hydrant Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
North America is expected to dominate the fire hydrant market in 2023.
Rapid growth in construction industry drives the fire hydrant market growth during the forecast period.
Increasing Adoption of the fire hydrants in the commercial buildings drives the market growth
American Cast Iron Company; AVK International A/S; BOCCIOLONE ANTINCEDIO; EJ Group, Inc; IMP Armature d.o.o; Kupferle Foundry Company; McWane International; Mueller Co. LLC.; NEWAGE FIRE PROTECTION SERVICES PVT. LTD; and Rapidrop Global Ltd.
Fire hydrant market size is projected to reach US$ 2,423.82 million by 2031 from US$ 1,667.15 million in 2023.
The market is expected to register a CAGR of 4.8% in 2023–2031.