LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global fire hose market is expected to grow at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Fire Hose Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Geographically, the global fire hose market is segmented into the following regions: APAC, EMEA, and the Americas. In terms of revenue, in 2015, the Americas accounted for 35% of the global fire hose market, followed by EMEA with a share of 34%, and APAC with a share of 31%.
With the presence of stringent safety regulation organizations like National Fire Protection Association (NFPA) and Occupational Safety and Health Administration in most of EMEA and North America, these regions will exhibit a steady growth over the forecast period. In APAC, the market penetration of fire hose is lower than other regions. So, vendors have potential opportunity to expand their market in APAC.
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Based on product type, the report categorizes the global fire hose market into the following segments:
Global fire hose market by product 2015
| Type 3 | 50% | ||
| Type 2 | 30% | ||
| Type 1 | 20% |
Source: Technavio
Global type 3 fire hose market
“Type 3 hoses have an exterior elastomeric covering that ensures low absorption of liquids and high resistance to abrasion and heat. This is the main reason for the growth of the type 3 fire hose market, along with high durability, adaptability to environment usage, and negligible friction loss,” says Sarah Haque, a lead research analyst at Technavio.
Type 3 fire hoses have an edge over type 1 and type 2 fire hoses as friction loss is minimal and a high tolerance for rough terrains. So, the global type 3 fire hose market will grow rapidly at a CAGR of more than 7% over 2015-2020. The market share of this segment is expected to increase to almost 53% by 2020.
Global type 2 fire hose market
Type 2 hoses have an external coating that prevents the absorption of liquids and improves resistance to abrasion. So, type 2 hoses have an edge over type 1 fire hoses. “These products are still used by end-users because of their cost-effectiveness compared with type 3 fire hoses and higher durability compared with type 1 fire hose,” adds Sarah.
Global type 1 fire hose market
Type 1 fire hose contains a circular woven jacket or support of a synthetic fiber with an impermeable internal lining. It has no external coatings like the other types of fire hoses. Type 1 fire hoses are mainly used by firefighters and industrial users. As it is uncoated, it lacks overall strength, which gradually reduces the durability and lifespan of a fire hose. So, this segment will grow at a sluggish rate over the period of 2015-2020.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Angus Fire
- Delta Fire
- Terraflex
- Ziegler
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