Fire Pump Market Size, Share, Growth, and Industry Analysis by Type (Diesel Engine Power, Gasoline Engine Power, Electric Motor Power, Others), by Application (Industry Application, Commercial Application, Field Emergency, Others), and Regional Forecast to 2032

Updated On: 08 April 2024

FIRE PUMP MARKET REPORT OVERVIEW

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The global fire pump market size was USD 1452.8 million in 2020 and the market is projected to touch USD 2097.07 million by 2032, exhibiting a CAGR of 3.1% during the forecast period.

A fire pump is a water sprinkler system used as a fire extinguisher that can be operated with electricity, diesel, or steam. The fire pump is connected to a stationary water source or an underground water supply line. It is also known as firefighting apparatus which can be easily transported to a location where a fire incident takes place and can operate for quick delivery of large water quantity to extinguish the fire. It is specially designed to increase the pressure of water which results in quick quenching of fire. Fire pumps are used to maintain the necessary water pressure in the sprinklers and standpipes during a fire. There is always a risk of fire outbreaks due to short circuits and other reasons, owing to which every residential building is equipped with a fire water pump to extinguish the sudden fire. Building rules also outline the locations where fire pump engines and fire pump controllers must be installed. 

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered the Market Due to Unexpected Disruption in The Sector

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 market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

FIRE PUMP MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into diesel engine power, gasoline engine power, electric motor power, others

Diesel engine power will capture the maximum market share through forecast period.  

Diesel engine power - The market for diesel engine-powered pumps will experience steady growth over the forecast period, due to their affordability and reliability on a global scale. Diesel engines are also used as auxiliary generators for mobile equipment that may require electric power during emergencies or outages.

Gasoline engine power - Gasoline engine power is a type of fire pump that uses gasoline to generate the pressure needed. Gasoline engines are often used in remote areas and other regions where there may be an issue with electricity supply or availability of diesel fuel for generators.

Electric motor power - Electric motor power is the most expensive among all, but it offers high efficiency and can be operated in any weather condition. Electric motors are also very quiet when running which is an advantage for commercial use. Safety standards will need to be met before electric fire pumps start using them.

Others -This category might include fire pumps powered by alternative means such as hybrid systems, natural gas, or possibly new, innovative power sources.

• By Application Analysis

According to application, the market can be segmented into industry application, commercial application, field emergency, others.

Fire pump market players cover segment as industry application will dominate the market share during forecast period.

Industry application - Fire pumps are in use by industry to supply water for cooling applications. The temperature of the fire and fuel production is high enough that it boils any available liquid present, which can then be used as a coolant.

Commercial application - Fire pumps are used in commercial applications to replenish water supplies and pressure. This covers fire pumps used in commercial buildings like offices, shopping malls, and hotels. These pumps are crucial for meeting safety regulations and protecting assets and people.

Field emergency - Fire pumps are often deployed in field emergency situations for firefighting or to provide access to water. They can be used at wildfires, chemical accidents, and other emergencies that require large volumes of water.

Others- This includes specialized applications like residential use, use in marine environments, or other less common scenarios.

DRIVING FACTORS

"Rise In Sudden Fire Catching Incidents To Boost The Market Growth"

Upsurge in the sudden fire-catching incidents in various industrial and residential areas, fuelling demand for fire pumps globally. With a rise in global manufacturing industries, fire hazard risk also rises simultaneously. This type of risk is highly associated with flammable manufacturing bases like chemical industries, petroleum refineries, and oil & gas industries. The most hazardous industry like the oil & gas industry, refineries, and flammable product manufacturing industry demand fire pumps for safety purposes, which fuel the market. 

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the fire pump market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. The introduction of new technology is aimed at enhancing fire pump machines, like pumps having IoT-enabled controllers in them and artificial fire pump systems equipped with several sensors having the ability to assess and respond appropriately without human operation. This technical improvement saves time and allows for quicker resolution of the problem or carrying out any operation. 

RESTRAINING FACTOR

"High initial cost To Hamper The Market Growth"

The cost of manufacturing and installing fire pumps can be high. This high initial investment can be a barrier for new entrants into the market and can also affect the adoption rate among potential users. Technical difficulties will reduce the industry revenue.

FIRE PUMP MARKET REGIONAL INSIGHTS

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"North America to Dominate the Region Due To Increase In Fire Incidents In Industrial & Residential Sectors"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

North America is further expected to witness growth in the fire pump market share. The region is dominating the market due to increase in fire incidents in both the industrial and residential sectors.  The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• Grundfos (Denmark)
• Flowserve (U.S.)
• Sulzer (Switzerland)
• Rosenbauer (Austria)
• Ebara (Japan)

INDUSTRIAL DEVELOPMENT

November 2021: suzler expanded its portfolio through the acquisitions of Haselmeier and Nordic water both based in Germany & Sweden. This acquisition have significantly strengthened Suzler’s presence in the domains of drug delivery systems and high tech pumps, positioning the company further growth and innovation in these sectors.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.