Market Definition
Fire Pumps are a part of the fire sprinkler system, as they provide high-pressure water accessibility to the fire sprinkler system & increase the flow rate of the water. These pumps are majorly 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 a 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
The Global Fire Pump market was valued at about USD1.5 billion in 2022 & is projected to grow at a CAGR of around 3.45% during the forecast period, i.e., 2023-28. The stringent fire safety regulation across various sectors, expansion of industrial & manufacturing industries, and fire insurance requirements have fueled the sales of these pumps across the globe. The oil & gas industry, chemical industry, aviation industry, etc., involve 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 them.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 3.45% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA | |
| Key Companies Profiled | Flowserve, Sulzer, Pentair, Grundfos, IDEX, Ebara, Roserbauer, ITT, KSB, WILO, Others (Waterous, Shibaura, etc |
| Unit Denominations | USD Million/Billion |
Moreover, several new oil & natural gas projects, such as the Golden Pass project, Plaquemines LNG Project, Fujairah LNG Terminal, etc., are also anticipated to enhance the demand for fire pumps in their operational stages.
Additionally, in the aviation industry, airports, aircraft maintenance facilities, and aircraft manufacturing plants adhere to strict fire safety regulations, which has fueled the demand for these pumps. According to CAPA Center for Aviation, as of 2023, there are more than 225 new airport projects, of which approximately 70% are in Asia-Pacific. The statistics also depict that Latin America has nearly 26 new airport projects & Asia-Pacific has around 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., leading to the construction of new hotels, resorts, restaurants, and entertainment venues. Hence, these venues are required to comply with fire safety regulations to protect occupants & visitors, which would support the demand in the following years.
Market Dynamics
Key Driver: Expansion of the Commercial Sector to Drive the Demand
The demand for fire pumps has been growing steadily in the commercial sector across the globe in 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 them at commercial sites in recent years. Also, the growth of corporate offices across various sectors, including IT, hospitality, healthcare, etc., across the regions like the US, China, India, South East Asia, the Middle East, etc., has been gradually amplifying the demand for fire pumps. Moreover, 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.
Further, there has been a rising inclination of IT giants like Google, Amazon Web Services, etc., to expand their offices across countries like India, Mexico, Saudi Arabia, the UAE, and others. Thus, the expansion of the IT industry across different countries is anticipated to escalate the demand for fire pumps from the commercial sector in the forecasted years as well.
Possible Restraint: High Initial Cost of Installation to Hinder the 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. Also, the manufacturers & suppliers comply with various stringent regulations & standards related to fire safety, performance, and environmental impact. Therefore, these regulations add complexity & cost to the design, manufacturing, and testing processes, further potentially affecting the profitability & market competitiveness of these pumps. Hence, owing to these factors, the cost of installation of fire pumps is high, which would impede market expansion.
Market Segmentation
Based on Pump Type:
Among them, Vertical Spilt Case has showcased considerable growth in the global 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 requiring large volumes of water, such as firefighting in large industrial complexes, airports, and high-rise buildings. Moreover, its design enables quick & convenient access to internal components, facilitating more efficient maintenance & reducing downtime. Furthermore, countries in the Asia-Pacific & Middle East, such as Vietnam, Thailand, Saudi Arabia, etc., are witnessing a ripple in the number of commercial spaces & industries. Additionally, as vertical split cases are ideal for these facilities, their demand from these regions would uplift during the forecast period.
Based on End Users:
Based on End-user, the Industrial sector captured a prominent share of the Global Fire Pump market during the historical years. The market growth imputes to the increasing expansion of the oil & gas industry, as well as an upsurge in oil & gas exploration, transportation, and processing facilities around the world, as these facilities require substantial water flow rates & pressures to effectively combat fires over expansive areas. Further, in the oil & gas industry, these pumps are designed to deliver the necessary water flow and pressure, enabling efficient fire suppression in such large-scale installations. Also, companies often adhere to international codes & standards, such as the National Fire Protection Association (NFPA) and American Petroleum Institute (API), which require the installation of these pumps as part of comprehensive fire protection systems in the industry.
Thus, such new 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 the companies have made fire safety a top priority, thereby augmenting spending on the installation of these pumps at various exploration facilities in the coming years.
Regional Projection
Geographically, the market expands across:
Asia-Pacific dominated the Global Fire Pump market in 2022. The major factor that supported the market growth is rising investment for the development of various sectors, such as educational institutes, healthcare, hospitality, etc., across the region. Further, the focus of governments, especially across the Southeast Asian countries for establishing themselves as tourist hubs has been leading to the construction of several new hospitality projects across the region. hence, these projects have catalyzed the demand for fire pumps at newly constructed hotels, restaurants, etc., during the historical period.
Besides, North America is another leading nation overpowering the market over the past few years as the US completely governed the North American market. In Mexico, the government has been largely focusing on extending free trade agreements with countries like India, Canada, the US, etc., over previous 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.
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Frequently Asked Questions
A. The Fire Pump Market is expected to grow at a CAGR of around 3.45% during 2023-28.
A. Industrial Segment is the dominating end-user in the Fire Pump Market.
A. Expansion of commercial sector to drive the Fire Pump Market during 2023-28.
A. The top players in the Fire Pump Market are Flowserve, Sulzer, Pentair, Grundfos, IDEX, Ebara, Roserbauer, ITT, KSB, WILO, Waterous, Shibaura, and Others.
A. Integration of fire pumps with building automation systems, allowing for seamless communication & control is the key trend in the Fire Pump Market.
A. The high initial cost of installation to impede the Fire Pump Market.
