Report : Europe Fire Hydrant Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Dry Barrel and Wet Barrel), Operating Type (Conventional and Smart), Construction (Underground and Above Ground), and End User (Commercial and Industrial)
Wet Barrel Segment to Dominate Europe Fire Hydrant Market During 2021–2028
According to a new market research study on “Europe Fire Hydrant Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Operating Type, Construction, and End User” is expected to reach US$ 656.91 million by 2028 from US$ 473.46 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the Europe fire hydrant market along with the drivers and restraints pertaining to the market growth. Rise of construction sector and strong implications regarding installation of fire protection systems are the major factor driving the growth of the Europe fire hydrant market. However, overpriced installation and maintenance hinder the growth of Europe fire hydrant market.
In case of COVID-19, Europe is highly affected specially the UK. European countries are amongst the major market for fire hydrant demand owing to increasing residential commercial sector driven by increasing migration of people and tourism. However, due to business lockdowns, travel bans, and supply chain disruptions, the region has witnessed decline in the construction activities of above-mentioned sectors. Decline in such activities has caused limited procurement of new fire hydrants in buildings. Italy, Spain, the UK, and Sweden are some few countries witnessed the highest number of fires. The scope of fire hydrant in above-mentioned countries is anticipated to grow with increasing construction and need to mitigate the impact of fires.
The Europe fire hydrant market is segmented on the basis of product type, operating type, construction, end user, and country. Based on product type, the market is bifurcated into dry barrel and wet barrel. The wet barrel segment dominated the market in 2020 and dry barrel segment is expected to be fastest growing during forecast period. Based on operating type, the market is divided into conventional and smart. The conventional segment dominated the market in 2020 and smart segment is expected to be fastest growing during forecast period. The market, by construction, is bifurcated into underground and above ground. The above ground segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on end user, the market is categorized into commercial and industrial. The commercial segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market is divided into the UK, Germany, France, Italy, Russia, and rest of Europe.
AVK International A/S; Bocciolone Antincendio SpA; EJ Group, Inc.; IMP Armature d.o.o.; McWane, Inc.; Mueller Co. LLC; Newage Fire Protection Services Pvt. Ltd; and Rapidrop Global Ltd are among the leading companies in the Europe fire hydrant market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Mueller Water Products, Inc. has introduced the Super Centurion A-403 Fire Hydrant, which is designed for one-person installation and maintenance. Mueller is also adding a new end design to its 250/300 Resilient Wedge Gate Valve product range.
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