Fire Pump Market Valuation USD 1.1 billion by 2032 | Asia-Pacific Fastest Growing Region
Fire Pump Market projected to grow at a CAGR of 4.6% from 2023 to 2032.
WILMINGTON, DELAWARE, UNITED STATES, June 14, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, the fire pump market size was valued at $0.7 billion in 2022, and is estimated to reach $1.1 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
A fire pump is a specially designed pump that enhances the water pressure in a fire protection system. It is commonly linked to a water source, such as a municipal water supply or a dedicated water tank. Fire pumps ensure that there is sufficient pressure to deliver water to firefighting equipment, such as hoses and sprinkler systems, even if the natural water pressure is insufficient.
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Asia-Pacific is the fastest-growing region of the fire pump market in 2022. Rapid urbanization in China, India, and Singapore fuels high-rise construction, demanding robust fire protection systems with essential fire pumps.
In addition, power generation sectors in Japan and South Korea rely on them for safety, especially in nuclear plants. All these factors increase the demand for fire pump in Asia-Pacific.
The major players operating in the global fire pump market analysis across Shaanxi Aerospace Power Hi-Tech Co. Ltd, Canariis Corporation, Grundfos Pumps Corporation., Xylem, Pentair plc, Cet Fire Pumps MFG Inc, EBARA CORPORATION, Sulzer Ltd., Shanghai Zhong Quan Pump Manufacturing Co. Ltd, Shanghai Liancheng (Group) Co., Ltd.
Fire pump market trend are typically integrated into a broader fire suppression system, which include sprinklers, water monitors, foam suppression systems, and other specialized equipment.
The coordinated operation of these systems, facilitated by the fire pump, is essential for a comprehensive and effective response to different types of fires that occur in industrial applications.
Two common types of fire pump market include centrifugal pumps and positive displacement pumps. Centrifugal pumps use an impeller to impart kinetic energy to the water, increasing its pressure, while positive displacement pumps trap a specific amount of water and then force it into the discharge pipe, providing a steady flow.
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The infrastructure within industrial facilities, including production units, control rooms, and storage areas, represents a significant investment.
Fire pumps contribute to the protection of this critical infrastructure by ensuring that water is readily available to control and extinguish fires.
The ability to promptly suppress a fire helps prevent extensive damage and minimize downtime, thereby safeguarding the overall economic viability of the industrial operation.
Power generation facilities, encompassing both traditional and renewable energy plants, rely on the integration of fire pumps as a fundamental component of their fire protection systems.
The utilization of fire pumps is paramount in safeguarding critical infrastructure within these facilities. The primary objective is to facilitate a swift and effective response to potential fires, thereby preventing catastrophic damage to power generation equipment and ensuring the continuous and reliable supply of electricity.
Fire pumps are carefully engineered to meet specific performance standards outlined by organizations such as the National Fire Protection Association (NFPA) to guarantee their effectiveness in emergency situations.
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In commercial buildings, fire pumps are a crucial component of the fire protection infrastructure. They ensure that there is an adequate water supply to the building's sprinkler system, standpipes, and other firefighting equipment. This is essential for the safety of occupants and the protection of property in the event of a fire.
By product type, the horizontal split case segment was the highest revenue contributor and fastest-growing segment representing 5.2% of CAGR to the market in 2022.
On the basis of application, the industry application is the fastest-growing segment of the fire pump market forecast in 2022. Fire pumps are essential for safeguarding transportation hubs like airports and train stations, ensuring swift responses to emergencies and protecting lives and assets.
In healthcare facilities these pumps are integral to preserving critical equipment and ensuring patient safety during fires. In addition, in shopping centers and retail spaces, fire pumps maintain water pressure, bolstering fire suppression systems to safeguard merchandise and individuals.
On the basis of powered basis, the others segment including dual pump, steam, and others is the fastest-growing segment of the fire pump market in 2022. Dual fire pumps offer enhanced safety in critical settings like hospitals or high-rises, ensuring continuous fire protection.
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In addition, steam-driven pumps suit remote areas like oil platforms due to steam availability, reducing mechanical failures. Moreover, electric pumps evolving with smart tech, connect to building systems for real-time monitoring and swift fire response in commercial spaces.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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