Fire Hydrant Systems Market - Drivers and Forecasts by Technavio

Technavio has published a new report on the global fire hydrant systems market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global fire hydrant systems market to grow at a CAGR of over 4% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global fire hydrant systems market for 2017-2021. This report considers major regions including the Americas, APAC, and EMEA. The geographical segmentation is determined according to revenue generated from the sales of fire hydrant systems.

In terms of geography, North America and Western Europe dominate the market due to stringent government regulations on deployment of fire hydrant systems. However, the markets in these regions are relatively mature and therefore growth opportunities for vendors largely exist in developing regions such as APAC, Central and South America, Central and Eastern Europe, and MEA. The markets in APAC are under-penetrated and thus offer potential growth opportunities for vendors.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global fire hydrant systems market:

Stringent fire safety training and regulations

The stringent fire safety regulations across APAC, EMEA, and the Americas will boost the fire hydrants systems market. Although, several measures have been taken to reduce the number of fires and minimize the injuries and losses during fire-related accidents, the number of fires has not seen a significant drop since 2010.

Sarah Haque, a lead research analyst at Technavio, says, “Governments of different countries in APAC are initiating model building codes, which would lead to the installation of fire suppression products such as fire hydrants in newly constructed houses. In India, the National Accreditation Board for Hospitals and Healthcare Providers deals with fire emergencies.”

Demand from industrial end-users

Fire hydrants are usually installed near industrial establishments that are prone to fire hazards. In such cases, fire hydrants must be installed within an approximate distance of 30 meters from the industrial building as this sector is more prone to fire-related threats because of the inherent nature of industrial production, which deploys processes that may trigger a fire. This is particularly true in the case of industries such as gas processing industries, refineries, offshore facilities, and the petrochemical industry.

“A rise in fire-related incidents across industries will drive the demand for fire hydrant systems. In 2015, Japan's Haneda airport near Tokyo, witnessed a fire after a blast at one of its warehouses located near the US military post,” adds Sarah.

Growth of municipal fire services

With government encouragement in various states and countries, municipal fire services have grown to be more efficient in cities. Municipal fire services are being set up to provide emergency services for existing demand, and in anticipation of future demand. Municipal fire services are growing across regions to prevent fire-related disasters in residential and commercial localities, respond to emergencies and provide immediate relief to public and property.

The growth of the municipal fire service industry is also backed by funding from organizations such as the FM Global, which supports organizations working on mitigating fire-related accidents. FM Global has come up with a fire prevention grant program, through which it offers financial support to fire departments, and other local, state, regional, national, and community organizations.

Top vendors:

  • Minimax
  • Naffco
  • Kennedy Valve
  • Angus Fire

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global fire hydrant systems market to grow at a CAGR of over 4% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com