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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Fire Hydrant Market Share
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 Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global fire hydrant market attained a value of nearly USD 1,298.50 million.
The market is projected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2,005.74 million by 2032.
The major drivers of the industry, such as the increased focus on safety in commercial and residential buildings, rising incidences of fire worldwide, increased investments by the government in the development of fire protection strategies, and rapid technological advancements, are expected to aid the market growth.
The key market trends guiding the industry's growth include the rising urbanisation and industrialisation.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include dry barrel and wet barrel.
The major segments based on operating type include conventional and smart.
The significant segments based on construction include underground and aboveground.
The major end use segments include commercial and industrial.
The major players in the industry are American Cast Iron Pipe Company, AVK Holding A/S, EJ Group Inc., Kupferle Foundry Company, and others.
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