Report : South America 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)
Commercial Segment to Dominate SAM Fire Hydrant Market During 2021–2028
According to a new market research study on “SAM 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$ 60.10 million by 2028 from US$ 50.13 million in 2021. The market is estimated to grow at a CAGR of 2.6% from 2021 to 2028. The report provides trends prevailing in the SAM fire hydrant market along with the drivers and restraints pertaining to the market growth. Increase in demand for smart fire hydrants and surge in conceptualization of smart cities and buildings are the major factor driving the growth of the SAM fire hydrant market. However, high cost of installation and maintenance hinder the growth of SAM fire hydrant market.
The government bodies of SAM countries have taken an array of actions to protect their citizens and contain the COVID-19 spread. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19’s spread through lockdowns, trade bans, and travel restrictions. The spread of the virus has interrupted the manufacturing and supply of different fire safety products in buildings from residential to industrial sectors. With the expansion in the manufacturing industries in the region, the scope of using fire hydrants in them is also expected to rise over the forecast period.
The SAM 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 dry barrel 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 Brazil, Argentina, and rest of SAM.
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 SAM 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.
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