Fire Pump Market Analysis, Drivers, Restraints, Threats & Growth Forecast To 2031
The Fire Pump Market was worth around USD 1625 million in 2021 and is estimated to grow to about USD 2225 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.5% over the forecast period. The report analyzes the Fire Pump Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Fire Pump Market. A fire pump is a component of a fire sprinkler system's water supply that can be powered by electricity, diesel, or steam. A static water source (tank, lake, and reservoir) or underground water supply piping is connected to the fire pump. The worldwide fire pump market is being driven by two key factors: rising population and an increase in natural disasters. In addition, the expansion is also fuelled by rising energy consumption and developing economies. The market is developing due to the increasing use of fire pump technology in commercial applicatio...