09 Mar Firefighting pump market to reach $2.8 billion by 2028
The firefighting pump market is set to reach $2.8 billion dollars by 2028, according to Arizton, a market analysis expert.
The firefighting pump market has the presence of multiple international companies such as Grundfos, Peerless Pumps, Rhurpumpen, Rosenbauer and Kirloskar Brothers. All companies which invest in R&D to continuously push forward their products in terms of both efficiency and fuel consumption. Initiatives like this ensure companies’ viable presence in rather competitive surroundings.
Many firefighting suppression and prevention technologies require the use of active firefighting pumps to effectively deliver fluid. Using these technologies, both lives and properties are saved – as a result, they will always be in demand throughout the marketplace.
The rise in demand scales with growth in other industries. Since 2021 Europe has witnessed a year-on-year growth of 4-6% in new resorts and hotel construction. Not only must these construction sites be always prepared with the very best fire safety equipment, but the hotels and resorts themselves utilise state-of-the-art standpipes, sprinkler systems, and fire pumps.
Furthermore, countries like India have invested US $1.1 billion to develop sports infrastructure – as stadiums and larger event-houses also go into construction, the fire pump marketplace continues to grow alongside these industries and sectors, propelling the fire pump market during this forecasted period.