According to our latest market study on "Fire Hydrant Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Operating Type, Construction, End-User, and Geography," the market is expected to grow from US$ 1509.92 million in 2021 and is projected to reach US$ 2,070.22 million by 2028; it is expected to grow at a CAGR of 4.6% from 2021 to 2028

Market Overview

The construction industry has experienced growth in recent times, with increased infrastructural projects. Various governments are initiating programs to support the construction industry. The growth phase in the construction industry and building design has led to more professional designs, construction methods, and technologies being introduced to meet the demand for fire safety. The commercial and residential infrastructure projects are thriving with the growth of the construction industry. Malls, hotels, dwellings, and both domestic and residential buildings, especially high-rise buildings, are experiencing significant growth. Fire safety in multi-story and high-rise buildings has gained attention in recent years. Code bodies, as well as local, regional, and national governments, are working to enhance the safety of high-rise buildings. Countries such as the US, Japan, the UAE, China, South Korea, and Australia are home to a significant number of skyscrapers, which has led to the increased adoption of fire hydrant equipment. The construction industry in the Asia Pacific, North America, and the Middle East regions is thriving due to favorable economic conditions and low interest rates. Countries like the US, Canada, China, and India are experiencing steady growth in the commercial and industrial construction sectors, with private housing, commercial offices, and retail construction also on the rise. These developments are expected to create promising growth opportunities for the global market and have a positive impact on the fire hydrant market.   

Market Segmentation 

The global fire hydrant market is geographically divided into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America held a significant market share in 2020. The fire hydrant market is further segmented based on product type, operating type, construction, and end user. The two product types are dry barrel and wet barrel, with the former holding a larger market share in 2020. The operating types are conventional and smart, with the conventional segment accounting for a larger market share in 2020. The fire hydrant market is also divided by construction into above ground and underground, with the above ground segment holding a larger market share in 2020. Finally, the fire hydrant market is segmented by end user into commercial and industrial, with the commercial segment holding a larger market share in 2020.    

Impact of COVID-19

The COVID-19 pandemic has hit North America hard, with the US, Canada, and Mexico seeing a significant rise in the number of infected patients. To limit human movement, governments have imposed lockdowns, which has resulted in manufacturing facilities experiencing lower production volumes than usual. The US is one of the largest markets for fire hydrants, particularly in industrial, construction, and commercial buildings due to government regulations concerning environmental safety. However, the production and adoption of fire hydrants have declined during the pandemic as the activities of these sectors have come to a halt for several months.

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