The global fire pump market is experiencing growth due to several factors such as the expansion of various industries, such as manufacturing, petrochemical, and energy, which necessitates robust fire safety measures. Fire pumps play a crucial role in protecting industrial facilities and ensuring the safety of personnel and assets.
WILMINGTON, Del., Dec. 6, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Fire Pump Market by Product Type (Horizontal Split Case, Vertical Split Case, Vertical Turbine, Vertical In-Line, and End Suction), Powered Basis (Diesel, Electric, Gasoline, and Others), and Application (Industry Application, Commercial Application, Field Emergency, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global fire pump market was valued at $0.7 billion in 2022, and is projected to reach $1.1 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
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Prime determinants of growth
The global fire pump market is experiencing growth due to several factors such as smart and efficient systems in fire pump technology where the Internet of Things (IoT), fire pumps are equipped with sensors that collect data on various parameters, such as pressure, temperature, and flow rates. However, the high initial costs of fire pump hinders the market growth to some extent. Moreover, the green and sustainable fire pump technologies offers remunerative opportunities for the expansion of the fire pump market.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$0.7 billion |
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Market Size in 2032 |
$1.1 billion |
|
CAGR |
4.6 % |
|
No. of Pages in Report |
270 |
|
Segments covered |
Product Type, Powered Basis, Application, and Region. |
|
Drivers |
• Smart and efficient systems in fire pump technology • Growth in oil and gas exploration activities |
|
Opportunities |
• Green and sustainable fire pump technologies |
|
Restraints |
• High initial costs of fire pump |
The horizontal split case segment is expected to grow faster throughout the forecast period.
By product type, the horizontal split cast segment held the highest market share in 2022, accounting for nearly one third of the global fire pump market revenue and is estimated to maintain its leadership status throughout the forecast period. This is due to horizontal split-case fire pumps are commonly used in fire protection systems to ensure a reliable water supply for firefighting. These pumps are designed to efficiently handle large volumes of water at high pressures. However, the horizontal split-case segment is projected to manifest the highest CAGR of 5.2% from 2023 to 2032
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The diesel segment is expected to lead the trail by 2032
By powered basis, the diesel segment held the highest market share in 2022, accounting for nearly two fifth of the global fire pump market revenue and is estimated to dominate during the forecast period. This can be attributed to the fact that Diesel fire pumps find extensive use in industrial applications where large volumes of water are required to fight potential fires. Industries such as petrochemicals, manufacturing, and mining often rely on diesel fire pumps as a primary source of firefighting water supply due to their robustness and ability to function in diverse environmental conditions. However, the other segments including dual pump, steam, and others are projected to manifest the highest CAGR of 5.2% from 2023 to 2032, as dual fire pumps are often employed in critical applications where uninterrupted fire protection is paramount, such as in hospitals, data centers, and high-rise buildings.
The industry application segment is expected to grow faster throughout the forecast period.
By application, the industry application segment held the highest market share in 2022, accounting for two fifth of the global fire pump market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that manufacturing plants, refineries, and chemical processing units utilize fire pumps to enhance the efficiency of their fire protection systems. The pumps are designed to handle various types of emergencies, from small fires to large-scale incidents, providing the necessary water flow and pressure to control and extinguish the flames. However, the industry application segment is projected to manifest the highest CAGR of 5.1% from 2023 to 2032.
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Asia-Pacific to maintain its dominance by 2032.
By region, Asia-Pacific held the highest market share and fastest growing region in terms of revenue in 2022 representing for 5.0% of the CAGR, accounting for more than one third of the global fire pump market revenue, and is expected to rule in terms of revenue throughout the forecast timeframe. Asia-Pacific countries are home to a wide range of industries, including manufacturing, petrochemicals, and power generation. These industries often involve the handling of flammable materials, making them susceptible to fires. Fire pumps are integral to industrial fire protection systems, providing the necessary water flow and pressure to control and extinguish fires effectively.
Leading Market Players: –
SHAANXI AEROSPACE POWER HI-TECH CO. LTD
CANARIIS CORPORATION
GRUNDFOS PUMPS CORPORATION
XYLEM
PENTAIR PLC
CET FIRE PUMPS MFG INC
EBARA CORPORATION
SULZER LTD.
SHANGHAI ZHONG QUAN PUMP MANUFACTURING CO. LTD
SHANGHAI LIANCHENG (GROUP) CO., LTD
The report provides a detailed analysis of these key players in the global fire pump market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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