Fire Pump Controller Market Size, Share, Growth, and Industry Analysis, By Type (Diesel Driven Fire Pump Controller, Electric Driven Fire Pump Controller and Others), By Application (Irrigation, Sludge Handling, Wastewater, Boiler Feed, Stormwater Handling and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Fire Pump Controller Market REPORT OVERVIEW

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The global fire pump controller market size was USD 1321.6 million in 2022 and is projected to touch USD 2098 million by 2031, exhibiting a CAGR of 5.3% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

A device known as a fire pump controller regulates the activation of a fire pump by combining sensors and logic. A fire pump controller's job is to make sure that there is enough water on hand to put out flames in buildings and other structures. The market is expanding as a result of the rising awareness of safety and security precautions around the world and the rising need for fire protection systems.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

During the COVID-19 pandemic in 2020, the global market experienced significant slowing due to the temporary halt in most industrial activities, particularly those related to construction, manufacturing, industrial solutions, oil and gas, chemical, and other industries/sectors. However, in 2021, the start of large-scale vaccination efforts eased the lockdown and travel restrictions, allowing manufacturing operations to resume. These factors are projected to boost the market during the forecast period.

LATEST TRENDS

"The Emergence of VFD Fire Pumps to Soar Up Market Potentially"

A variable frequency drive, or VFD, is a motor controller that controls the frequency and voltage applied to an electric motor to ensure optimal control. It is primarily intended to work at a specific pressure as specified at the moment of installation. The primary application of VFD in fire pump controller is to improve energy economy while also enhancing overall service quality and lowering associated maintenance costs. A number of well-known suppliers are expected to incorporate VFD into their product lines. As a result, these factors are projected to propel the growth of the fire pump controller market over the forecast period.

Fire Pump Controller Market SEGMENTATION

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• By Type

Based on type the market is classified as diesel driven, electric driven and others.

• By Application

Based on application the market is classified as irrigation, sludge handling, wastewater, boiler feed, stormwater handling and others.

DRIVING FACTORS

"Penetration of IoT-enabled Devices Interconnecting Industrial Activities to Reinforce the Market Growth "

The Internet of Things (IoT) is being increasingly adopted across industries to expedite corporate processes and cut operating expenses without sacrificing quality. The fundamental benefit of IIoT is that it allows for the interconnection of all machinery, sensors, controllers, and other connected systems, as well as the continuous collection of performance data to increase efficiency through big-data analytics.Furthermore, the incorporation of IoT-enabled devices in enterprises has resulted in the emergence of smart factories with increased efficiency, lower inventory, and minimal waste of raw materials. One of the primary benefits of implementing IoT in fire safety systems is that it helps connect fire sensors to the central fire safety room and speeds up fire detection. As a result, such applications are projected to fuel the growth of the market over the forecast period.

"The Boiler Feed Water Supply Applications to Witness Tremendous Market Growth"

Due to its vast breadth across many sectors worldwide, boiler feed water supply was expected to be one of the largest application segments in 2015. Boiler feed pumps are widely employed in a variety of industries, including power generation and steel production, to provide hot water from boilers at industrial temperatures. Controllers placed in these applications enable safe operations at all times, as well as reliable delivery under pressure when it is most needed - at startup or emergencies - without severely impacting production rates.

RESTRAINING FACTORS

"Pandemic Caused Industrial Slow-Down to Obstruct the Market Growth"

Even though the worldwide fire pump controller market is predicted to increase, the industry may face a substantial danger due to a slowdown in industrial expansion and an economic recession. China is one of the primary countries with the greatest market share for the controller.

However, the economic downturn and weaker currency have had a substantial influence on China's market growth. In addition to China, numerous oil and gas-exporting countries have been hit hard by this drop, including Brazil, Russia, Argentina, various Middle Eastern economies, and several African countries. As a result, such factors are projected to impede the fire pump controller market growth over the forecast period.

Fire Pump Controller Market REGIONAL INSIGHTS

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"European American Region to Dominate the Market with Major Production and Multiplying Manufacturers"

In terms of revenue, Asia Pacific dominated the global fire pump controller market share. This can be ascribed to rising demand for diesel-powered and electric-powered fire pumps in a variety of applications such as irrigation, wastewater, sludge treatment, and boiler feed. The area is a major hub for the manufacturing activities of a majority of sectors, including the key end-users of fire pump controller, which is one of the main reasons for the considerable expansion of the global market. According to the World Bank Group, the region's global population has surpassed 2 billion people. As a result of the increased population, the need for various consumables and other commodities has increased, which in turn leads to more manufacturing operations and so raises the demand for the fire pump controller. All these factors combined are significantly contributing in the regions fire pump controller market growth.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics.The research is an in-depth examination of a list of market participants who promote market growth. The data is a compilation of the most recent manufacturing industry trends, mergers and acquisitions, market research, and technology breakthroughs. To comprehend market share, product growth, revenue growth, and other variables over the forecast period, additional criteria such as regional and segmental analysis are considered.

List of Market Players Profiled

• Eaton (Ireland)
• UL (U.S.A)
• Grundfos (Denmark)
• Tornatech (Canada)
• Vertiv (U.S.A)
• Hubbell (U.S.A)
• Naffco (U.A.E)
• Flotronix (U.S.A)
• Metron Eledyne (U.K)
• ComAp (Czech Republic)
• Pentair (U.K)
• Master Control Systems (U.S.A)
• Flowserve (U.S.A)
• SPP Pumps (U.K).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study.The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions.