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.
Fire Hydrant Market Analysis
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 Market Overview
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.
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Fire Hydrant Market: Strategic Insights
Market Size Value in US$ 1,509.92 million in 2021 Market Size Value by US$ 2,070.22 million by 2028 Growth rate CAGR of 4.6% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Fire Hydrant Market: Strategic Insights
| Market Size Value in | US$ 1,509.92 million in 2021 |
| Market Size Value by | US$ 2,070.22 million by 2028 |
| Growth rate | CAGR of 4.6% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Fire Hydrant Market Drivers and Opportunities
Rapid Growth in the Construction Industry Drives the Fire Hydrant Market Growth During the Forecast Period
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.
Surge in Demand for Smart Fire Hydrants
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.
Fire Hydrant Market Report Segmentation Analysis
Key segments that contributed to the derivation of the fire hydrant market analysis are product type, operating type, construction, and application.
- Based on the product type, the market is divided into dry barrel and wet barrel. The dry barrel dominates the market due to increasing adoption in areas with freezing temperatures. Also, the protection rusts and reduced maintenance requirement compared to the wet barrel are augmenting the segment growth. However, the low price of a wet barrel fire hydrant and easy access in normal atmospheric temperature conditions support its growth. Adopting the dry and wet barrels fire hydrants is majorly dependent upon the environmental condition requirements.
- Depending upon the operating type, the market is divided into conventional and smart. Conventional fire hydrants dominate the market due to deep penetration in the market. However, increasing demand for water data monitoring is accelerating growth in the smart fire hydrant segment.
- Based on construction, the market is divided into underground and above-ground.
- Depending on the end user, the global fire hydrant market is divided into commercial and industrial.
Fire Hydrant Market Share Analysis by Geography
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.
Fire Hydrant Market Report Scope
Fire Hydrant Market News and Recent Developments
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:
- In March 2024, The Public Service Commission of the US West Virginia launched task force for addressing defective fire hydrants as three fire hydrants were failed to deliver water in the Charleston house that burned down. The homeowners filed lawsuit against water utility West Virginia American Water. (Source: Eurofins, Press Release)
- In June 2022, AVK Holding Company completed the acquisition of TALIS Group based in the UK. The company manufactures fire hydrant and other construction Equipments that operates as Atlantic Plastics Ltd.
Fire Hydrant Market Report Coverage and Deliverables
The “Fire Hydrant Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- Fire Hydrant Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Fire Hydrant Market Trends
- Detailed PEST Analysis and SWOT analysis
- Fire Hydrant Market Analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Fire HydrantMarket Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
- Detailed Company Profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Operating Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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