Fire Pump Market 2022 Key Players, SWOT Analysis, Key Indicators and Forecast to 2030

Governments are enforcing stringent fire safety regulations across factories and making it mandatory for all industrial plants to have proper fire escape and firefighting facilities. To this end, countries such as the United States are appropriating their budgets to install fire pumps across industrial and household sectors respectively.

As manufacturing industries expand, fire hazards at industrial sites have heightened in equal proportion. The risks of fire outbreaks are especially high across chemical manufacturing, petroleum extraction and oil & gas industries. According to estimates by the International Association of Fire and Rescue Services, there were more than 1.3 million cases of fires reported in the United States and nearly 3 million cases in France respectively.

Get | Download Sample Copy with Graphs & List of Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-1953

Furthermore, fire hazards resulted in direct economic losses amounting to US$ 23 billion as of 2016. On the back of these trends, the demand for fire pumps across these sectors is anticipated to be the maximum in the next half-a-decade’s forecast period.

Electric Fire Pumps to Tower over Others due to Cost & Operational Benefits

In terms of operating power, electric fire pumps will gain the higher ground in comparison to other pumps such diesel pumps. A key differentiator between electric and diesel pumps is the cost factor, with the former proving comparatively more inexpensive than the latter. While electrical pumps require dedicated servicing and may have high electrical costs, diesel pumps require constant inspection of its batteries, oil intake, cooling system, engine and hose maintenance, in addition to a weekly run test.

This puts electric pumps at a higher pedestal, leading to heightened demand across the upcoming forecast period. Recently, however, usage of dual fire pumps has experienced an upward thrust. While electric pumps do result in major cost savings, several difficulties may arise while using it. The most important barrier to using electric pumps is the constant electricity supply it requires.

In case of power failure, electric pumps cannot be used. In this scenario, a combination pump which runs on both electricity and diesel is highly desirable. Whenever there is a power outage, users can simply switch over to the diesel mode, rendering it in working condition should an emergency arise.

For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-1953

Oil & Gas Spearheads Global Fire Pumps Market due to Increased Fire Hazard Vulnerabilities

When it comes to fire hazards, there is probably no industry which is as vulnerable as the oil & gas industry. While undertaking exploration and drilling activities, workers are constantly at the risk of severe injuries from fires induced by explosions due to ignition of flammable vapors or gases.

Volatile gases such as hydrogen sulfide are released from trucks, wells, production and surface equipment.When in close proximity to ignition sources such as cigarettes, lightning, static electricity, matchsticks, lighters, frictional heat and cutting and welding tools, these can easily vaporize and catch fire.

To prevent such hazards, oil and gas companies have made fire safety a top priority, thereby augmenting spending on the installation of fire pumps at various exploration facilities.

Regional Insights

Amongst all the regions profiled in this report, the North American fire pumps market is expected to remain the hegemon throughout the forecast period. Growth is majorly attributed to a rise in fire accidents across the industrial and residential sectors.

According to the National Fire Protection Association, in 2018, the U.S fire departments responded to approximately 1.3 billion fire incidents, which resulted in over 3,500 civilian fatalities and over 15,000 injuries. A loss of US$ 25.6 billion in property was recorded, most of them arising from the Californian wildfires. This has prompted government agencies to augur their spending on fire safety measures.

Significant growth opportunities exist in the Asia-Pacific region, with South Asia recording the highest number of industrial and residential fire hazards. Most of these incidents occur in India and Bangladesh.

This is largely ascribed to hazardous working conditions in factories, with no fire safety mechanisms in place. Most factories are not even equipped with basic fire extinguishers or exits, often causing immense fatalities on an annual basis. In September 2016, a massive fire at Tampaco Foils, a food and cigarette packaging factory, situated north of Dhaka, killed at least 34 people while injuring dozens. There have been worse incidents than this tragedy.

Fortunately, the government has been taking major steps to improve working conditions and ensure safety of its workers, thus increasing spending on fire pumps.

The COVID-19 pandemic has adversely affected the industrial automation & equipment industry, which also incorporates the fire pumps market within its ambit. Several fire pump manufacturers have recorded a slump in their sales and production due to ceasing business activities induced by mandatory social distancing protocols. Employees are being encouraged to remain indoors, leading to limited production on-site.

Logistical impediments are rendering it difficult for factory workers to travel to their workplace, inducing further downturns in the market.Governments have realized the importance of firefighting and have been taking measures to ensure that the market functions without hindrances. After all, firefighting is categorized as an essential service, putting it on an equal pedestal as healthcare & pharmaceuticals, food & agriculture, information & communications technology and power generation.

All firefighting personnel are being provided with personal protective equipment and being asked to maintain strict social distancing on-premises, keeping the industry afloat. Hence, the fire pumps market sales will rebound in the long-term forecast.

Competitive Landscape

Some prominent market players in the fire pump market include Xylem Inc., Grundfos Pumps Corporation, Pentair Ltd, CET Fire Pumps Mfg Inc, Eaton, Waterous, NAFFCO, Armstrong Fluid Technology and Canariis Corporation. Acquisition of certifications, product launches and research and development are the key expansion strategies resorted to by the vendors.

For instance, CET Fire Pumps Mfg Ltd., manufactures the PFP-9HPNHND-EM High-Volume Portable Fire Pump, the PFP-9HPHND-M and PFP-9HP-DSL pumps. Likewise, Waterous manufactures the PB18 and E500 portable fire pumps.

Ask Us Your Questions About This Report:
https://www.futuremarketinsights.com/ask-question/rep-gb-1953

Global Fire Pump Market Segmentation: