The latest research study on Fire Hydrant Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Dry Barrel and Wet Barrel), Operating Type (Conventional and Smart), Construction (Underground and Above Ground), and End User (Commercial and Industrial)”, published by The Insight Partners.
American Cast Iron Company; AVK International A/S; BOCCIOLONE ANTINCEDIO; EJ Group, IMP Armature d.o.o; Kupferle Foundry Company; McWane International; Mueller; NEWAGE FIRE PROTECTION SERVICES; and Rapidrop Global are among the major companies operating in the fire hydrant market. Companies are focusing on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities in fire hydrant market.
In February 2021, the IMP Armature d.o.o. received the platinum certificate of creditworthiness from Dun & Bradstreet. This chart depicts a corporation above average in the business world and is based on numerous distinct metrics. This will continue to strive for success for business partners and staff.
The growth of the fire hydrant system market is attributed to the upsurge in service expectations from industrial users and commercial customers. The enactment of strict fire safety regulations by governments is further propelling the demand for fire hydrant systems. Wireless sensors or smart nodes are used in fire hydrant systems to attain greater efficiency by consuming less water. Also, these safety systems exhibit cheap maintenance and lightning-fast action. At present, the market for safety systems has tremendous potential due to the severe implications surrounding fire hydrant systems installations in companies and organisations. The Startup India campaign led to an upsurge in the number of companies and offices in the country in the last few years, which will require fire safety measures.
Impact of COVID-19 Pandemic on Global Fire Hydrant Market:
The COVID-19 virus outbreak has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients has governments to put a bar on the transportation of humans and goods. The manufacturing and construction industries, academic institutes, shopping complexes, and office premises have experienced a temporary shutdown to curb the spread of the virus. In addition, due to a shortage of raw materials and workforce during the lockdown, the affected production activities of fire hydrants have come to a halt. Furthermore, no fresh consignments are being received by businesses in this industry. As a result, the global market has been hampered by a halt in construction operations and lockdowns for several months, and delayed recovery is expected during the projection period.
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