The Fire Pump Market was at US$ 283.78 Million in 2021 and is growing to approx US$ 680.18 Million by 2030, with a CAGR growth of 5.5% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, September 11, 2022 /EINPresswire.com/ -- According to the study, The Global Fire Pump Market was estimated at USD 283.78 Million in 2021 and is anticipated to reach around USD 680.18 Million by 2030, growing at a CAGR of roughly 5.5% between 2022 and 2030.

Fire Pump Market: Overview

Fire pumps are used to maintain the needed water pressure in the sprinklers and standpipes during a fire. It is a particular kind of specialized motor-driven application that is crucial to the operation of building security systems. In the near future, growing industrialization is predicted to benefit from the requirement for a fire pump. A spike in accidents over the past several years has increased the need for fire pumps in both residential and manufacturing settings. Throughout the anticipated timeframe, increased demand for fire pumps is expected to be caused by ongoing global industrialization. A rise in the industrial sector is anticipated to be prompted by the need for fire pumps..

Fire Pump Market: Growth Drivers

The expanding industrial sector is projected to increase demand for fire pumps, driving growth in the worldwide market for fire pumps during the course of the forecast period. The oil and gas industry, which is anticipated to grow considerably in the near future, will serve as another major market driver for fire pumps. Firms worldwide are being compelled to invest in human resource safety measures by strict rules and regulations. In the upcoming years, this aspect is also probably going to help fire pumps become more widely used.

The global market for fire pumps is also anticipated to gain from the oil and gas sector’s promising pace of expansion as well as the rise in oil and gas processing, transportation, and exploration facilities throughout the globe. Due to stringent standards and laws, businesses everywhere are being obliged to invest in measures to preserve their human resources. Over the next years, it is also anticipated that this factor will support the widespread use of fire pumps. The oil and gas industry is expected to expand at a promising rate during the ensuing years, and there will likely be a rise in infrastructure for oil and gas exploration, processing, and transportation globally.

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Key Insights:

A) As per the analysis shared by our research analyst, the Fire Pump market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2022-2030).
B) In terms of revenue, the Fire Pump market size was valued at around USD 283.78 Million in 2021 and is projected to reach USD 680.18 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The increased expense involved with putting the fire pump into use might hinder market expansion. Many industries compromised their safety standards due to costs associated with their operations and installations.
D) It is intended to include new technology into new fire pump machines to further improve them, such as an artificial fire pump system with several sensors that can assess and react appropriately without human assistance.
E) It reduces the amount of time needed to solve the problem. New prospects for the fire pump market are anticipated to be driven by the advantages and viability of the related factors.

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Regional Landscape

North America held a dominant position and is predicted to be in the dominating state during the forecast period in the fire pump market. North America is anticipated to increase steadily due to the end-use sectors’ slow expansion. In addition, the region’s fire pump market has tremendous development potential during the time covered by the research due to the region’s well-established oil and gas industry. Additionally, the market expansion is anticipated to be enhanced by the rising accessibility of IoT-enabled pump controllers. Construction of new warehouse facilities and an increase in the sales of fire safety equipment are both being sparked by the expanding global warehouse inventory across all sectors and manufacturing sites. Fire pump installations are growing as a result in this region.

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Key Players

Pentair Plc.
Cet Fire Pumps MFG Inc
Shaanxi Aerospace Power Hi-Tech Co. Ltd
Ebara Corporation
Grundfos Pumps Corporation
Canariis Corporation
Xylem, Inc
Liancheng Group
Shanghai Zhong Quan Pump Manufacturing Co. Ltd
Sulzer Saudi Pump Company LLC.

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The Fire Pump Market is segmented as follows:

By Power

Electric
Diesel
Gasoline
Others

By Application

Industry Application
Commercial Application
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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