PORTLAND, OR, UNITED STATES, October 12, 2020 /EINPresswire.com/ — A fire hydrant is stationary equipment placed outside or inside a building, industrial area, and parking area, which is connected to a private or municipal water service network. They are designed to directly offer water needed by fire fighters to extinguish a fire.
The Europe fire hydrants market size was valued at $ 308.0 million in 2019 and is projected to reach $416.4 million by 2027, registering a CAGR of 5.1% from 2020 to 2027. In 2019, the conventional segment dominated the market, in terms of revenue, accounting for over four-fifths of Europe fire hydrants market share.
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The Europe fire hydrants market is segmented into product type, operating type, construction, and end-user.
The European fire hydrants market is anticipated to grow, owing to an increase in industrial and commercial construction and strict norms for fire safety practices. Moreover, rise in investments of European government for fire protection is anticipated to drive the growth of the market. For instance, in 2019, the government of Russia spent $600 million on firefighting systems.
The novel coronavirus is rapidly spreading across various countries and regions, causing an enormous impact on lives of people and the overall community. In addition, manufacturing, packaging, mining, and construction supply chains are striving on a worldwide scale to keep pace with the quick transmission of virus. In addition, the COVID-19 pandemic has shut down the production of various types of fire hydrants, owing to prolonged lockdowns in major countries in Europe such as Germany, the UK, and France.
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The key players profiled in the market report include AVK Holding A/S, Bocciolone Antincendio, Compagnie De Saint-Gobain S.A., Viking Group, Hawle Holding GmbH, IMP Armature d.o.o., Mueller Water Products, Inc, Rapidrop Global Ltd, Talis Management Holding GmbH, and VonRoll Hydro AG.
Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging Europe fire hydrants market trends and dynamics.
• Depending on product type, the dry barrel segment dominated the market, in terms of revenue in 2019 and is projected to grow at a significant CAGR during the forecast period.
• By operating type, the conventional segment registered highest revenue in the Europe fire hydrants market in 2019.
• By construction, the above ground segment registered highest revenue in the market in 2019.
• Depending on end user, the industrial segment is projected to exhibit high growth during the Europe fire hydrants market forecast period
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