A recent report published by Infinium Global Research on fire pump market provides in-depth analysis of segments and sub-segments in the global as well as regional fire pump market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional fire pump market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global fire pump market. According to the report, the global fire pump market is projected to grow at a CAGR of 3.6% over the forecast period of 2018-2024.
The fire pump is a firefighting apparatus that can be easily transported to a fire scene and quickly made operational to deliver large quantities of water onto the fire. Additionally, fire pump is a part of a fire sprinkler system's water supply which is powered by diesel, electric or steam. It is designed for, to increase the pressure or energy of the water. The fire pump is usually connected to the external water supply and local water sources such as a well, tank, or reservoir. Fire pump starts working when the fire sprinkler’s pressure drops below a certain set point (threshold). Fire pumps are needed when the water supply cannot provide sufficient pressure to meet the hydraulic design requirements of the fire protection system. Apart from this, it is needed if the water supply is provided from a ground level water tank.
Increasing incidences of fire in an industrial and residential area are one of the key factor driving the growth of the global fire pump market. As per international association of fire and rescue services, in 2016, there were 1,34,2000, and 2, 85,661 cases of fire reported in the USA and France respectively. The fire resulted in direct economic losses of USD 23.0 billion. Thus, to prevent such a fire outbreak, governments are implementing public safety rules and regulation and setup necessary infrastructures to tackle any fire outbreak in busy spaces. Thus, will eventually increase the demand for fire pump market. Moreover, rapid industrialization across emerging countries has led to the growth of the market. However, less adoption of fire pump in undeveloped countries could hamper the growth of the fire pump market. Expansion of the oil and gas sector and rise in oil and gas exploration, transportation and processing facilities across the globe are expected to create beneficial growth opportunities for the fire pump market in a coming year. Strict guidelines and regulations across manufacturing industries over the globe are expected to positively impact on market growth.
North America is expected to be the maximum share in the fire pump market. As per the U.S. Fire Administration (USFA), in 2017, there were 3,400 cases of deaths are occurred and 14,670 peoples are injured due to fire in U.S. Addition to that, there are 1,319,500 cases of fires occurred. The government initiative for fire safety will make the growth opportunities for the fire pump market. The Asia Pacific is accounted to be the fastest growing region in fire pump market. In the Asia Pacific region, China is the leading country generating significant growth rate in fire pump market. The government of China set up regulation about fire safety for economic and social development. In the Middle East region, an initiative was taken by the number of organizations for the fire protection to install fire protection equipment creating opportunities for the fire pump market.
The report on global fire pump market covers segments such as type, powered basis, and application. On the basis of type, the sub-markets include horizontal split case, vertical split case, vertical in-line, vertical turbine, and end suction. On the basis of powered basis, the sub-markets include electric, diesel, gasoline, and others. On the basis of application, the sub-markets include field emergency, industry application, and commercial application.
The report provides profiles of the companies in the market such as Pentair plc, Cet Fire Pumps MFG Inc, Shaanxi Aerospace Power Hi-tech Co., Ltd., Zhongquan Group Zhejiang Pump Industry Co Ltd, EBARA CORPORATION, WATEROUS, WATERAX, Talco Fire Systems, and NAFFCO, and Pentair.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of fire pump market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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