Report : Asia Pacific Fire Hydrant Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Dry Barrel and Wet Barrel), Operating Type (Conventional and Smart), Construction (Underground and Above Ground), and End User (Commercial and Industrial)
Conventional Segment to Dominate APAC Fire Hydrant Market During 2021–2028
According to a new market research study on “APAC Fire Hydrant Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Operating Type, Construction, and End User” is expected to reach US$ 407.50 million by 2028 from US$ 280.11 million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report provides trends prevailing in the APAC fire hydrant market along with the drivers and restraints pertaining to the market growth. Growing demand for smart fire hydrants and rise in conceptualization of smart cities and buildings are the major factor driving the growth of the APAC fire hydrant market. However, expensive installation and maintenance hinder the growth of APAC fire hydrant market.
The COVID-19 outbreak resulted in a massive financial loss in APAC. The imposed lockdown to limit the outbreak hampered the manufacturing sector significantly. China, India, South Korea, and Taiwan dominate the global manufacturing sector with a number of manufacturing units. Since the emergence of the COVID-19, Asian countries underwent several lockdown phases, which adversely affected the manufacturing and construction industries. Due to the imposition of lockdown, the production of fire alarms, sprinklers, and extinguishers has witnessed disruption. In addition, the decline in the construction of commercial, industrial, and residential sectors also interrupted the adoption of fire hydrants in buildings.
The APAC fire hydrant market is segmented on the basis of product type, operating type, construction, end user, and country. Based on product type, the market is bifurcated into dry barrel and wet barrel. The wet barrel segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on operating type, the market is divided into conventional and smart. The conventional segment dominated the market in 2020 and smart segment is expected to be fastest growing during forecast period. The market, by construction, is bifurcated into underground and above ground. The above ground segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on end user, the market is categorized into commercial and industrial. The commercial segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market is divided into China, India, Japan, South Korea, Australia, and rest of APAC.
AVK International A/S; EJ Group, Inc.; McWane, Inc.; Mueller Co. LLC; Newage Fire Protection Services Pvt. Ltd; and Rapidrop Global Ltd are among the leading companies in the APAC fire hydrant market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Mueller Water Products, Inc. has introduced the Super Centurion A-403 Fire Hydrant, which is designed for one-person installation and maintenance. Mueller is also adding a new end design to its 250/300 Resilient Wedge Gate Valve product range.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com