Market Definition
Fire pumps are one of the major components of a building's fire protection system, especially in high-rise structures. Fire pumps are mainly used in distributing water through sprinkler systems where water pressure from water mains & firefighting equipment are incapable to reach. They are an essential part of a fire sprinkler system, as they provide high-pressure water accessibility to the fire sprinkler system. It is mainly used to receive water from an underground water supply, a water tank, a lake, or a reservoir.
Furthermore, Latin American countries such as Brazil, Mexico, Argentina, etc., are continuously working towards their construction sector, including both industrial & commercial, to leverage their economies, which is further estimated to lead to the large-scale installation of fire pumps in the forecast years.
Market Insights
The Latin America Fire Pumps market is projected to grow at a CAGR of 2.78% during the forecast period, 2022-27. The prominent driver for the growth of the market is the rising demand for fire pumps in industrial applications such as mining, oil & gas, etc. The growing consumer awareness of safety hazards has resulted in the installation of fire pumps in both residential & commercial buildings throughout the Latin America region. Moreover, the rapid urbanization in the region has been catalyzing the construction of multi-story buildings & commercial spaces like offices, retail buildings, etc. As a result, the growing trend of high-rise residential buildings, corporate offices, and so on in countries such as Brazil, Mexico, and Argentina is expected to increase the deployment of fire pumps. For instance:
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 2.78% |
| Country Covered | Mexico, Brazil, Argentina, Colombia, Chile, Peru, Others |
| Key Companies Profiled | Wilo Group, Pentair, AC Fire Pumps (Xylem), Peerless, Patterson, SPP Pumps, Others |
| Unit Denominations | USD Million |
Market Segmentation
Based on End User:
Among them, Mining and Oil & Gas are expected to hold a significant share in the Latin America Pumps market in the forecast years, in line with the new oil & gas field discoveries in the countries such as Brazil, Mexico, Peru, etc. In 2022, the Brazilian petroleum industry Petrobas discovered a new accumulation of oil in the pre-salt of the southern portion of the Campos Basin. In parallel, the company reported the discoveries of three offshore oil & gas fields in Brazil in 2021.
