Global Fire Hydrant Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global Fire Hydrant Market Outlook

The global fire hydrant market stood at a value of around USD 1,298.50 million in 2023. The market is further expected to grow at a CAGR of 4.9% in the forecast period of 2024-2032 to attain a value of around USD 2,005.74 million by 2032.

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Increasing Utilisation of Dry Barrel Fire Hydrants to Catalyse the Growth of the Global Fire Hydrant Industry

Based on product type, the dry barrel segment is estimated to occupy a significant share in the fire hydrant industry. This can be attributed to the increased use of dry barrel fire hydrants in regions with a colder climate. Dry barrel hydrants are designed for areas with lower temperatures, as the barrels above ground remain dry and the water main is located below the ground, which prevents it from freezing. In addition, with subsequent developments in fire hydrant systems worldwide, manufacturers are combining both the wet and dry barrel properties to create a hybrid fire hydrant, such as wet-top dry barrel hydrants, that could work in varied climates. This is expected to further aid the market in the forecast period.

The North American Region to Possess a Significant Market Share in the Global Fire Hydrant Industry

North America is predicted to occupy a significant share of the global fire hydrant industry. This can be attributed to the stringent regulations put in place by the government and other regulatory agencies in the region. According to a report issued by the World Bank, fires cause more than 180,000 fatalities in a year globally, which is three times more than the annual average of natural hazards, and in the US alone, fire-related expenses amount to 1-2% of the GDP, annually. As a result, strict fire regulations are increasingly being implemented in order to reduce the risk of fires. These factors are expected to positively impact the market growth of fire hydrants in the forecast period.

Fire Hydrant: Market Segmentation

Fire hydrants are water outlets that are essential in the active fire protection process. Fire hydrants are found in most urban and suburban areas, where the water is connected to the municipal water network that can be easily used to draw out a large volume of water by the fire rescue team in extinguishing a fire. These are found underneath the ground and aboveground. They come in bright red and yellow colours to increase their visibility, and sometimes have different coloured tops to indicate the volume of water a fire hydrant can deliver in gallons per minute (GPM), with blue having the highest GPM and red, the lowest.  In addition, these hydrants are also used in water transfer and irrigation processes.

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By product type, the market is distributed into:

• Dry Barrel 
• Wet Barrel

On the basis of operating type, the industry can be categorised into:

• Conventional 
• Smart

Based on construction, the market can be segmented into:

• Underground 
• Aboveground

On the basis of end user, the industry can be bifurcated into:

• Commercial
• Industrial

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Industrialisation and Urbanisation to Augment the Growth of the Global Fire Hydrant Industry

According to the World Bank report dated October 2020, rapidly increasing urbanisation is a major cause of fires globally, and by 2050, two-third of the entire world's population would be living in cities. This, in turn, is leading to numerous issues such as fire hazards. Moreover, heightened industrialisation, especially in areas with high population density, is leading to the informal construction of commercial and residential buildings that do not meet the regulatory standards of fire safety and precautions and pose a major urban fire risk. In this regard, governments are increasingly investing in infrastructure planning and construction by utilising fire-resistant materials and installing fire hydrant systems. The growing installation of fire hydrant systems in and around the building to increase safety while efficiently decreasing the chances of a huge disaster is expected to aid the market in the forecast period.

Key Industry Players in the Global Fire Hydrant Market

The report gives a detailed analysis of the following key players in the global fire hydrant market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• American Cast Iron Pipe Company
• AVK Holding A/S
• EJ Group Inc.
• Kupferle Foundry Company
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report

Fire Hydrant Market Report Snapshots

Fire Hydrant Market Size

Fire Hydrant Market Growth

Fire Hydrant Market Share

Fire Hydrant Companies