Report : North America 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)
Dry Barrel Segment to Dominate North America Fire Hydrant Market During 2021–2028
According to a new market research study on “North America 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$ 840.57 million by 2028 from US$ 625.09 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the North America fire hydrant market along with the drivers and restraints pertaining to the market growth. Rising construction sector and strict implications regarding installation of fire protection systems are the major factor driving the growth of the North America fire hydrant market. However, expensive installation and maintenance hinder the growth of North America fire hydrant market.
Due to government regulations regarding environmental safety, the US has surfaced as one of the largest fire hydrant consumers, deploying them in almost every industrial, construction, and commercial building. As the manufacturing sector was restricted for a few months, the production and uptake of fire hydrants have experienced a decline. In addition, the Division of the Fire Marshal (DFM) states that fires in residential homes claimed the lives of more than 3,600 in the US in 2018. Fire safety products are growing to lower the harmful impact of fire on the people.
The North America 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 dry barrel segment dominated the market in 2020 and same 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 US, Canada, Mexico.
American Cast Iron Company; AVK International A/S; EJ Group, Inc.; Kupferle; McWane, Inc.; Mueller Co. LLC; Newage Fire Protection Services Pvt. Ltd; and Rapidrop Global Ltd are among the leading companies in the North America 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 2020, The street was constructed in the summer of 2020, and AVK P7 hydrants were included in the design. The authorized AVK distributor Vestra Industry delivered the hydrants under a three-year procurement contract with the water company. More than 500 underground hydrants and 500 above-ground hydrants are included in the deal.
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