fire pump controllers Market

The fire pump controllers market was valued at US$ 289.32 million by 2028, it is expected to grow at a CAGR of 6.2% during 2021-2028.

Fire-related hazards are severe and lead to loss of life and valuable assets. When dealing with a fire, it is important to remain alert and follow preventive measures to avoid the chances of getting burned. Thus, various initiatives and projects have been taken to increase awareness among people. For instance, in October 2021, a global coalition of over 80 fire safety leadership organizations launched a new Decade of Action for Fire Safety 2022-2032. The program aims to ensure an internationally consistent approach to the safety and management of buildings and infrastructure and to save lives by reducing risk and preventing devastating fires. Similarly, the UQ Fire Safety team of the University of Queensland, Australia, implemented various changes for 2022 by updating online courses and offering a revamped fire extinguisher training course using the latest technologies. The fire extinguisher training courses will be delivered by a member of the fire safety team and will utilize the fully immersive/virtual reality extinguisher training system. Such initiatives will fuel the fire pump controllers market growth over the forecast period.

The deployment of fire pumps across various industrial, commercial, and residential construction projects is catalyzing the demand for fire pump controllers market across the globe. North America has one of the most advanced infrastructures constructed with various safety and security regulatory norms. Every construction across the region is made prioritizing higher safety which is propelling the fire pump controllers market growth. Various types of safety and protection equipment, such as fire pumps, controller assemblies, and other safety tools, are installed. Rising commercial construction projects and increased industrial expansion are among the major factors supporting the installation of fire pumps and pump controllers across the region. The major vendors operating in the region, such as Eaton and Hubbell Inc., support the fire pump controllers market size. Moreover, vendors across the region have been focusing on developing new and innovative products to cater to the growing demands and remain competitive in the fire pump controllers market share. For instance, in January 2020, Metron (a subsidiary company of Hubbell Inc.) introduced a new FD5 Series fire pump controller that is certified with NFPA20, UL218, and FM 1321/1332 standards and comprises automated circuit systems with digital displays for diesel engine fire pump controllers.

The Europe fire pump controllers market is highly fragmented due to the presence of a large number of vendors operating across different European countries. The presence of vendors such as Grundfos Pumps Ltd, Stuart Group Ltd, Action Pumps Ltd, ComAp Control Ltd., SVE Corp, AquaGuard Pumps, Eaton, Pure Power, and Xylem UK is further catalyzing the growth of the fire pump controllers market size. These companies are collaboratively working with industrial facilities to understand their respective customers' demands and provide reliable solutions to remain competitive in the fire pump controllers market share. Moreover, the collaboration and acquisition strategies followed by these companies are leading to higher consolidation of the regional fire pump controllers market. In April 2022, Johnson Controls announced that it had acquired Powertec Pumps Ltd to enhance its fire pump products portfolio in the fire suppression sector.

The APAC fire pump controllers market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Europe. The rising industrialization across countries such as India, Malaysia, Indonesia, Singapore, Taiwan, and China is one of the major factors generating new demands for the installation of industrial pumps and controller systems across countries in Asia Pacific. Further, the region comprises three of the top five construction market countries worldwide, i.e., China, India, and Indonesia. These countries generate constant demand for the installation of fire protection systems during the construction of residential buildings, commercial buildings, and industrial facilities. Moreover, the growth in the demand for industrial construction and digitalization of the industrial sector across the region is adding impetus to the fire pumps and controller systems market expansion. For instance, the expansion of many manufacturing facilities in emerging countries such as India, Taiwan, and Southeast Asian countries is driving the deployment of fire pump and controller systems across the region. One of the major contributors to the Asia Pacific fire pump controllers market share is the presence of the manufacturing hub in China. The country supplies various components and products to several industries and manufacturing sectors. China is one of the major countries in the APAC region with the largest, as well as the fastest-growing construction industry. According to the Fitch Solutions Infrastructure Report, China is the world's largest construction market, which is predicted to grow at an annual average of 5.2% between 2021 and 2029. Also, the Chinese government constantly emphasizes on the development of robust, attractive, and safe construction structures, thus adding to the demand for fire safety systems. The country also has a significantly large industrial sector, encompassing several industries. The number of manufacturing facilities, warehouses, and storage facilities continues to surge year-on-year (Y-o-Y). Thus, the continuous increase of mentioned facilities further boosts the demand for fire pump controllers market in China.

The key players profiled in the fire pump controllers market study include ComAp AS; Eaton Corp Plc; Hubbell Inc; Master Control Systems Inc; NAFFCO FZCO; Firetrol Inc; and Tornatech Inc. The market report provides detailed market insights, which will help the key players strategize growth in the coming years.

The ongoing developments in fire pump controller technology are strengthening the fire pump controllers market share. For instance, in February 2022, Keltron Corporation announced the acquisition of MIJA Industries, Inc.-a leading medical, industrial, and fire protection pressure gauge application manufacturer. The acquisition will help Keltron enhance its fire extinguisher monitoring solutions by adding high-precision fire and oxygen gauges.

The fire pump controllers market is segmented based on type and end-user. Based on type, the market is bifurcated into electric fire pump controller and diesel fire pump controller. Based on end-user, the market is categorized into industrial, commercial, and residential.

The fire pump controllers market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. In 2022, Asia Pacific led the market with the largest share, followed by Europe. Further, North America is expected to register the highest CAGR in the fire pump controllers market from 2022 to 2028.