Fire Pump Market Projected to Witness a Double-Digit CAGR During 2016-2026
Future Market Insights has announced the addition of the “Fire Pump Market Projected to Witness a Double-Digit CAGR During 2016-2026" report to their offering.
Valley Cottage, NY -- (SBWire) -- 12/27/2017 --Rapid industrialization is expected to positively impact the demand for fire pump in the near future. A fire pump is a part of water supply of fire sprinkler systems is run by using electric, diesel or steam. The fire pump is connected to either a static water source (tank, lake, and reservoir) or an underground water supply piping. Generally, it is connected with the public underground water supply pipe or any static water source such as tank, reservoir, and lake. The fire pump machine offers high pressure water flow to the fire sprinkler systems. The fire pump starts working when the fire sprinkler's pressure drops below a certain set point (threshold). The number of fire pump should be installed depending on the occupancy hazard and the specific fire installation standard. Most of the fire pumps are listed, tested, certified by the accredited laboratories and authorized institutions. According to various research reports, the fire pumps market is anticipated to increase at a significant rate over the forecast period.
Global Fire Pump Market Dynamics:
Increasing incidences of fire at manufacturing facilities and residential areas has increased the demand for fire pumps in the recent few years. The growing industrialization across the globe is expected to drive the demand for fire pumps over the forecast period. The increasing manufacturing sector is expected to increase the demand for fire pumps, which in turn is expected to drive the global fire pumps market over the forecast period. The oil & gas industry is expected to witness substantial growth in the near future, will be another driving factor for fire pumps market.
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Global Fire Pump Market Segmentation:
The global fire pump is segmented on the basis of power for operating as electric fire pumps, diesel fire pumps, steam turbine and dual fire pumps. The global fire pump market can also be segmented on the basis of product type as horizontal split case, vertical split case, and vertical in line, vertical turbine and end suction.
The global fire pump market can also be segmented on the basis of application as irrigation, sludge handling, wastewater, boiler feed and stormwater handling and others.
Global Fire Pump Market: Regional Outlook:
The global fire pump market can be segmented on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, and Middle East and Africa. North America is expected to dominate the global fire pumps market throughout the forecast period. Moreover, Europe is also anticipated to contribute a major share in the global fire pump market over 2016–2026.
However, Europe is expected to lose some share due to the high growth of Asia-Pacific over the forecast period. North America is anticipated to witness stable growth due to sluggish growth in end-use industries. Revenue generated from sales of fire pumps in Middle East and Africa is also projected to increase at a high CAGR over the forecast period.
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Global Fire Pump Market Players
The major players identified across the value chain of global fire pump market include Pentair Ltd., Cet Fire Pumps MFG inc., Xylem Inc., Grundfos Pumps Corporation, Armstrong Fluid Technology, Talco Fire Systems, Waterous, NAFFCO, Canariis Corporation, Eaton and many more. The companies are emphasizing on research and development and new product development in order to maintain the competitive advantage in global fire pump market during the forecast period. In order to meet the increasing demand of fire pump, companies all over the world are looking for certification in order to expand the product portfolio and increase the sales strategies.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
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