Fire Hydrant Market Trends and Opportunities Assessment 2023-2028: Growing Adoption of Smart Technologies in Fire Hydrant Systems

DUBLIN, Aug. 9, 2023 /PRNewswire/ -- The "Fire Hydrant Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global fire hydrant market is expected to experience promising growth opportunities, reaching an estimated value of $1.8 billion by 2028 with a CAGR of 4.4% from 2023 to 2028. The major drivers for this market's growth include the increasing industrialization and urbanization, rising commercial and industrial construction activities, and the implementation of strict fire safety regulations by governments.

The market is segmented based on various factors, including product type, operating type, construction, end-use industry, and region. The product types analyzed in the study are dry barrel and wet barrel fire hydrants. Among these, the dry barrel segment is expected to remain the largest over the forecast period, particularly in regions with colder climates. Dry barrel fire hydrants are designed to prevent freezing in areas with lower temperatures, making them suitable for regions with harsh weather conditions.

The operating types considered in the study are conventional and smart fire hydrants. As the adoption of smart technologies continues to increase across various industries, the demand for smart fire hydrants is also expected to grow. Smart fire hydrants offer advanced features such as remote monitoring, leak detection, and real-time data analysis, enhancing their efficiency and effectiveness in fire safety management.

Based on construction, the market is segmented into underground and above-ground fire hydrants. The choice of construction type depends on factors such as geographic location, weather conditions, and infrastructure requirements.

The end-use industries analyzed in the report include commercial and industrial sectors. The commercial segment is expected to remain the largest due to the high risk of human life losses associated with fire accidents in commercial spaces, where large numbers of people are present. Increasing awareness of asset protection is also contributing to the demand for fire hydrants in commercial establishments.

Geographically, North America is projected to hold the largest share of the fire hydrant market over the forecast period. This can be attributed to strict government regulations, the availability of corrosion-free hydrants, and the region's emphasis on quick water storage for fire safety.

In the competitive landscape, companies in the market focus on product quality, expansion of manufacturing facilities, R&D investments, and integration opportunities across the value chain to cater to increasing demand, develop innovative products, and reduce production costs.

Overall, the fire hydrant market is expected to witness substantial growth due to the increasing need for fire safety measures in commercial and industrial settings and the growing adoption of smart technologies in fire hydrant systems.

Key Topics Covered

1. Executive Summary
2. Global Fire Hydrant Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2017 to 2028
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players

A selection of companies mentioned in this report includes:

• American Cast Iron
• AVK International
• Bocciolone Antincedio
• EJ Group
• IMP Armature
• Kupferle Foundry
• McWane International
• Mueller
• Newage Fire Protection Services
• Rapidrop Global

For more information about this report visit https://www.researchandmarkets.com/r/kr6jkp

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets