Global Fire Hydrant Systems Market 2017-2021

Global fire hydrant systems market forecasts

According to fire hydrant systems industry analysis, the global fire hydrant systems market is anticipated to grow at a steady rate and will post a CAGR of more than 4% during the forecast period. The stringent fire safety regulations and the implementation of effective fire safety practices across APAC, EMEA, and the Americas will drive the growth prospects for the global fire hydrants systems market for the next four years. Due to the implementation of stringent fire safety practices, a large number of newly constructed houses are installed with fire suppression products such as fire hydrants in various countries in APAC. Moreover, numerous training programs are being implemented in various countries to increase the fire safety awareness and preparedness for firefighters that encourage hands-on usage of fire hydrant systems. All the above factors will drive the demand for fire hydrant systems and accelerate the fire hydrant systems market growth.

In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market until the end of 2021. Some of the major factors responsible for the for the market’s growth in the region is the strong presence of many vendors in the US and stringent fire regulations made by the US government and the regulatory agencies like Occupational Safety and Health Administration (OSHA), and Environmental Protection Agency(EPA). 

Competitive landscape and key vendors

The global fire hydrant systems market is highly competitive and diversified due to the presence of a numerous regional and international vendors across the globe. It has been observed that these vendors are increasingly competing against each other based on factors such as price, quality, branding, and customer service. Furthermore, several vendors are increasingly focusing on providing high-performance products by adopting advanced material and processing technologies and are heavily investing in the research and developmental activities.