Pune, India, June 22, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on "Fire Pump Controllers Market Report Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, End-User, and Geography," the market is expected to grow from $201.60 million in 2022 to $289.32 million by 2028; it is expected to grow at a CAGR of 6.2% from 2022 to 2028.
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Global Fire Pump Controller Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 201.60 Million in 2022 |
| Market Size Value by | US$ 289.32 Million by 2028 |
| Growth rate | CAGR of 6.2 % from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 145 |
| No. of Tables | 62 |
| No. of Charts & Figures | 78 |
| Historical data available | Yes |
| Segments covered | Type, and End-User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | ComAp AS, Eaton Corp Plc, Flowserve Corp, Grundfos Holding AS, Hubbell Inc, Master Control Systems Inc, NAFFCO FZCO, Pentair Plc, Firetrol Inc, and Tornatech Inc. |
Browse key market insights spread across 145 pages with 62 list of tables & 78 list of figures from the report, "Fire Pump Controllers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Electric Fire Pump Controller and Diesel Fire Pump Controller) and End-User (Industrial, Commercial, and Residential)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/fire-pump-controllers-market
The fire pump controllers market share in European countries is growing at a decent rate year-over-year. The key reason for the growth of the fire pump controllers' market share is the presence of a large number of market players in the region. The market players in the region include Grundfos Pumps Ltd, Stuart Group Ltd, Action Pumps Ltd, ComAp Control Ltd., SVE Corp, AquaGuard Pumps, and Eaton. Also, the rising government regulations for installing safety equipment in commercial, industrial, and residential buildings are boosting market growth in Europe. Thus, the growth in the construction of various commercial, industrial, and residential buildings will increase the demand for fire safety solutions, further boosting the fire pump controllers market size.
Based on geography, the global fire pump controllers market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. Asia Pacific held the largest market share in 2021, followed by Europe and North America. Also, APAC is anticipated to be the fastest-growing region during the forecast period. Growing industrialization in countries such as China, Japan, Taiwan, Indonesia, and Singapore will create the demand for installing industrial pumps and controller systems, thus boosting the fire pump controllers market growth. Further, the growing industrial construction and digitalization of the industrial sector will lead to the fire pump controllers market growth during the forecast period.
The growth of the North American fire pump controllers market size can be majorly attributed to the rise in the adoption of fire safety and protection equipment. Furthermore, the growth of the manufacturing industry is also fueling the production and sales for technologically advanced fire safety solutions. Market players such as Eaton and Hubbell Inc. provide technologically advanced fire pump controllers.
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Global Fire Pump Controllers Market: COVID-19 Overview
Asia Pacific was hit hard by the COVID-19 pandemic. Asian countries experienced a drop in the GDP, international trade, and economy. The APAC fire pump controllers market also took a hit in the first half of 2020, leading to a massive decline in the revenue of key market players operating in the region. The outbreak resulted in disruptions in supply chains across the region. Moreover, most APAC countries witnessed key market players losing significant revenue. The pandemic impacted both large and small and medium enterprises operating in the Indian market. The lockdown also affected the import and export of various raw materials required to develop fire pump controllers.
Post-pandemic, manufacturing activities of fire pump controllers have resumed. Also, it is expected that the demand for fire pump controllers will rise in countries such as China, India, Japan, Australia, South Korea, and Taiwan post-COVID-19 recovery period. Further, the relaxation of lockdown restrictions support the steady raw material shipment and industrial activities, which boosted the growth of the construction industry in APAC in 2021.
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Global Fire Pump Controllers Market: Type Overview
Based on type, the global fire pump controllers market is segmented into electric fire pump controller and diesel fire pump controller. The electric fire pump controller segment is expected to hold a significant share of the global market over the forecast period. Many office buildings and condominiums are often equipped with electric fire pumps controllers. Also, additional electric fire pump controllers are sometimes installed above the ground or basement level to increase water pressure. In addition, electric fire pump controllers require less maintenance which further rises their demand. Electric fire pump controllers are present within a building. The major companies providing electric fire pump controllers include Eaton, ComAp, Grundfos Holding A/S, and NAFFCO.
Global Fire Pump Controllers Market: Competitive Landscape and Key Developments
ComAp AS, Eaton Corp Plc, and Hubbell Inc are among the key players profiled in the fire pump controllers market report. Several other essential market players were analyzed to get a holistic view of the market and its ecosystem. The fire pump controllers market report provides detailed market insights, which will help the key players strategize the growth in the coming years.
Some of the initiatives taken by the key market players are mentioned below.
In January 2020, NAFFCO FZCO participated in INTERSEC 2020 event held in Dubai to showcase NAFFCO's innovative technologies in fire safety.
In May 2021, Pentair acquired the assets of Ken's Beverage, Inc. (KBI), a leading provider of smart, sustainable solutions, equipment and services to commercial customers, for approximately US$ 80 million in cash. This will help the company to expand its product and distribution network in the commercial sector.
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