Global Fire Pump Market Research Report: Forecast (2023-2028)

Market Definition

Fire Pumps are a part of the fire sprinkler system, as it provides high-pressure water accessibility to the fire sprinkler system & increases the flow rate of the water. These pumps are mainly used in distributing water through sprinkler systems where water pressure from firefighting equipment is incapable to reach. They are typically driven by an electric motor or diesel engine & are available in different configurations, such as vertical, horizontal, or end-suction. They are critical components of fire protection systems used to fight fires in residential & commercial buildings, industrial facilities, and others.

Market Insights & Analysis: Global Fire Pump Market (2023-28):

The Global Fire Pump Market size was valued at around USD 1.5 billion during 2022 & is projected to grow at a CAGR of around 7.57% during the forecast period, i.e., 2023-28. The stringent fire safety regulation across various sectors, expansion of industrial & manufacturing sectors, and fire insurance requirements have fueled the sales of fire pumps across the globe. The oil & gas industry, chemical industry, aviation industry, etc., involve the handling, storage, and transportation of highly inflammable substances, due to which government entities in different countries have regulated them with stringent fire safety regulations to prevent disasters & minimize the impact of fire-related incidents.

Owing to this, the presence of a well-established oil & gas industry in the Middle East & North America has significantly enhanced the demand for fire pumps. Moreover, many new oil & natural gas projects, such as the Golden Pass project, Plaquemines LNG Project, Fujairah LNG Terminal, etc., are ongoing in these regions, which are anticipated to enhance the demand for fire pumps in their operational stages.

Additionally, the aviation industry has also shown substantial growth due to expanding tourism, urbanization, population, and airline competition. This further led to a rise in the number of airports globally. Airports, aircraft maintenance facilities, and aircraft manufacturing plants adhere to strict fire safety regulations, which has fueled the demand for these pumps, eventually aiding in enhancing the Fire Pump Market share. According to CAPA Center for Aviation, as of 2023, there are more than 225 new airport projects, of which approximately 70% are in the Asia-Pacific. The statistics also depict that Latin America has approximately 26 new airport projects & Asia-Pacific has 132 projects. These ongoing projects would positively affect the market growth during the forecast period.

Furthermore, the tourism & hospitality sector is also witnessing a surge in countries like Saudi Arabia, Qatar, Thailand, Singapore, etc., which is leading to the construction of new hotels, resorts, restaurants, and entertainment venues. These venues are required to comply with fire safety regulations to protect occupants and visitors, which would support the fire pump's demand in the ensuing years.

Global Fire Pump Market Driver:

Expansion of the Commercial Sector to Drive the Demand for Fire Pumps – The demand for fire pumps has been steadily growing in the commercial sector across the globe over the past few years. The market received a boost after the strict government regulation introduced by different countries, such as the US, India, Japan, etc., to mandate the installation of fire pumps at commercial sites.

The growth of corporate offices across sectors, including IT, hospitality, healthcare, etc., in nations like the US, China, India, Southeast Asia, the Middle East, and others have been consistently amplifying the demand for fire pumps. In the past few years, the GCC & APAC region has emerged as the preferred destination for establishing data centers. This was due to the constant push by the governments of countries like the UAE, Qatar, Saudi Arabia, India, South Korea, etc., to establish their countries as digital hubs & store government-specified data effectively.

Moreover, there has been a rising inclination of IT giants like Google, Amazon Web Services, and many more to expand their offices across countries like India, Mexico, Saudi Arabia, the UAE, etc. Hence, the expansion of the IT industry across different countries is anticipated to escalate the demand for fire pumps in the commercial sector in the forecasted years as well, therefore driving market growth.

Global Fire Pump Market Opportunity:

Government Initiatives to Promote Green Buildings Globally – The rise in the construction of green buildings has been witnessed over the past few years, with the growing necessity for adopting sustainable construction methods to reduce carbon emissions of greenhouse gas released by the construction industry. The building & construction industry accounts for more than two-thirds of the total greenhouse gas that releases globally. In this context, the construction sector has a tremendous opportunity to reduce greenhouse gas emissions.

The surge in the number of sustainable buildings resulted in stimulating the demand for fire pumps. These buildings have certain standards & regulations for fire protection & safety, such as National Fire Protection Association (NFPA): NFPA 72, National Fire Alarm Code; NFPA 2001, Standard on Clean Agent Fire Extinguishing Systems, etc. Hence, the growing number of green buildings across the country, owing to the rising government initiatives, would provide a lucrative opportunity for the Global Fire Pump Market during 2023-28.

Global Fire Pump Market Challenge:

High Initial Cost of Installation to Hinder Market Growth – Fire pumps are generally specialized equipment & require advanced engineering, precision manufacturing, and high-quality materials. The cost of developing & producing reliable & efficient fire pumps can be substantial in some countries across the globe. Thus, the competitive market landscape & price sensitivity among buyers resulted in putting pressure on manufacturers to deliver cost-effective solutions while maintaining product quality & performance.

Fire pump manufacturers & suppliers comply with various stringent regulations & standards related to fire safety, performance, and environmental impact. These regulations add complexity & cost to the design, manufacturing, and testing processes, potentially affecting the profitability & market competitiveness of fire pumps. Hence, owing to these factors, the cost of installation of fire pumps is high, which results in impeding the Fire Pump Market growth.

Global Fire Pump Market Trend:

Firming-up Free Trade Agreement to Boost Vehicle Production in Developing Regions – The rapid growth of the automotive industry has been mainly due to the foreign investments made by some of the largest automobile producers across the globe. This growth can be largely attributed to strengthening free trade agreements in the region which have reduced or eliminated most import taxes on US products. For instance:

• In 2022, United States-Mexico-Canada Agreement (USMCA) replaced the North American Free Trade Agreement (NAFTA) & governs trade among the US, Mexico, and Canada.

Thus, with the growing free trade agreement, the US & Asian countries' auto exporters are looking to expand in their market globally. By reducing the cost of importing EVs & related equipment, free trade agreements incentivize the production & adoption of electric vehicles in participating countries.

Major automotive car manufacturers, such as BMW, Mercedes-Benz, Audi, Volkswagen, Mitsubishi, Kia, Land Rover, Suzuki, Nissan, and Honda, have been building manufacturing facilities across Latin America and the Middle East & Africa. Hence, the increasing production of vehicles in the developing region led to escalating the demand for fire pumps in recent years, as they are reliable & have a safe firefighting system installed in the automotive manufacturing industry.

Global Fire Pump Market (2023-28): Segmentation Analysis

Global Fire Pump Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Product Type:

• Split Case
• Vertical Turbine
• In-line
• End Suction

Vertical Turbine has showcased considerable growth, capturing the potential share in the Global Fire Pump Market due to its increased adoption in commercial buildings, industrial facilities, and power plants. These pumps are capable of delivering high flow rates, making them ideal for applications like firefighting in large industrial complexes, airports, and high-rise buildings that require large volumes of water.

Its design enables quick & convenient access to internal components, facilitating easier maintenance & reducing downtime. Furthermore, countries in the Asia-Pacific & Middle East, such as Vietnam, Thailand, Saudi Arabia, etc., are witnessing a surge in the number of commercial spaces & industries. As vertical split cases are ideal fire pumps for these facilities, its demand from these regions would surge during the forecast period.

Based on End Users:

• Residential
• Commercial
• Industrial

The Industrial sector is predicted to be the prominent end-user in the Global Fire Pump Market due to the increasing expansion of the oil & gas industry as well as an upsurge in oil & gas exploration, transportation, and processing facilities. In the oil & gas industry, fire pumps are designed to deliver the necessary water flow & pressure, enabling efficient fire suppression in large-scale installations.

Companies often adhere to international codes & standards, such as the National Fire Protection Association (NFPA) and the American Petroleum Institute (API), which require the installation of fire pumps as part of comprehensive fire protection systems in the oil & gas industry. Thus, such new oil & gas field discoveries in the region would support demand for fire pumps, owing to the safety & health hazard concerns during operations in the forthcoming period.

Furthermore, to prevent hazards such as hydrogen sulfide released from trucks, wells, production, and surface equipment, these companies have made fire safety a top priority, thereby augmenting spending on the installation of fire pumps at various exploration facilities in the coming years.

Global Fire Pump Market Regional Projection:

Geographically, the Global Fire Pump Market expands across:

• North America
• Latin America
• Europe
• Asia-Pacific
• Rest of the World

Asia-Pacific dominated the Global Fire Pump market in 2022, owing to the rising investment to develop various sectors, such as educational institutes, healthcare, hospitality, etc., across the region. The focus of governments, especially across Southeast Asian countries, to establish themselves as tourist hub has been leading to the construction of several new hospitality projects across the region. These projects have catalyzed the demand for fire pumps at newly constructed hotels, restaurants, etc., in the coming years.

Besides, North America is the second leading nation dominating the market of fire pumps in the past few years. The US, completely governed the North American market. In Mexico, the government has been largely focusing on increasing the free trade agreements with countries like India, Canada, the US, etc., over the past few years. This has led to the expansion of several manufacturing sectors, including automotive, aviation, medical devices, etc., to leverage the free-trade agreement opportunities.

Also, automotive manufacturers & auto parts manufacturers from countries like China, Germany, etc., have been actively introducing their plans to expand their units across Mexico. Consequently, with the expansion of manufacturing facilities & corporate offices in the automotive sector across the region, the demand for fire pumps is anticipated to grow in the forthcoming years.

Global Fire Pump Market Industry Recent Development:

• 2023: Wilo Group signed an MoU with the Ministry of Investment in Saudi Arabia in order to expand in the region. The company would install an assembly facility in Saudi Arabia to manufacture & assemble pumps & systems locally.

Gain a Competitive Edge with Our Global Fire Pump Market Report

1. Global Fire Pump Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Fire Pump Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.