The North America Fire Hydrants Market would witness market growth of 3.9% CAGR during the forecast period (2021-2027).
The fire hydrant is considered to be an active fire protection measure, & also a source of water for the municipal water service that allows firefighters to use the water to get control over fire accidents. These systems are also used for various other applications such as irrigation & water transfer. Additionally, the major benefit of having a home located near a fire hydrant is safety along with the significant decrease in the amount payable for home insurance premium. Various insurance companies prefer to know about the risk of their money to be claimed, due to which, they calculate that a home is located near an efficient fire hydrant. This is because of the fact that it will reduce the risk of damage as the fire brigade would not need to wait for filling their trucks in between a fire fighting operation.
Various advanced technologies are being introduced in the regional market such as such as wireless sensory networks, the Internet of Things (IoT) & smart buildings. In addition, the infrastructural governmental regulations are also surging the demand for fire hydrant systems. The North America region is accounting growth in the construction activities, especially in the construction of multi store & high rise buildings, which are further rising the demand for installation of fire hydrant systems in order to reduce the risk of damage due to fire outbreaks.
Additionally, the countries such as Canada and the United States are having continuous infrastructural developments because of the increasing population in the region. The demand for fire hydrants is mainly increasing from some particular sectors that include the industries using or producing flammables such as oil, gas, etc.
The US market dominated the North America Fire Hydrants Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $346.5 million by 2027. The Canada market is poised to grow at a CAGR of 6.3% during (2021 - 2027). Additionally, The Mexico market would display a CAGR of 5.3% during (2021 - 2027).
Based on Product Type, the market is segmented into Dry Barrel and Wet Barrel. Based on Operating Type, the market is segmented into Conventional and Smart. Based on Construction, the market is segmented into Above Ground and Under Ground. Based on End User, the market is segmented into Commercial and Industrial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Fire Hydrants Market is Estimated to reach $1.4 Billion by 2027, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Rapidrop Global Ltd., TALIS Beteiligungs GmbH (Triton Investments Advisers LLP), Mueller Water Products, Inc., McWane, Inc., The Kupferle Foundry Company, EJ Group, Inc., AVK Holding A/S, American Cast Iron Pipe Company, SFFECO Global, and Saint-Gobain Group.
By Product Type
By Operating Type
By Construction
By End User
By Country
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