The global fire hydrant market is expected to grow from US$ 1,509.92 million in 2021 to US$ 2,070.22 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028.

Smart fire hydrants allow water management to stay ahead of the problems by offering a complete picture of their distribution networks. With this knowledge, utilities can save money by preventing issues and gaining customer loyalty. The smart hydrant can save money by detecting leaks significantly more rapidly and efficiently than current approaches. Even though utilities regularly monitor known trouble sites such as major junctions, a minor leak can go undetected for long periods until it gets large enough to interrupt water pressure, erode pavement, or trigger a significant pipe break. A smart hydrant can enable system-wide monitoring daily. Allowing leak detection staff to work more efficiently can also help the utility lower its carbon footprint. Unauthorized hydrant openings can also be detected by smart hydrants, which can inform utilities. Smart fire hydrants could make a substantial dent in the amount of water wasted due to utility system leaks, but there is still the matter of individual water use to consider.

North America is among the worst hit regions by COVID-19. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. This led the governments to impose lockdowns to limit human movement, thereby leading the manufacturing facilities to experience lower than usual production volumes. The US is one of the largest markets for fire hydrant, especially in industrial, construction, and commercial buildings owing to government regulations regarding environmental safety. As the activities of aforesaid sectors have been stopped for few months, production & adoption of fire hydrant has experienced a decline. In addition, as per the Division of the Fire Marshal (DFM), states that fires in residential home claims lives of more than 3,600 in the US in 2018. To lower the harmful impact of fire on the people, use of fire safety products is growing.

American Cast Iron Company; AVK International A/S; BOCCIOLONE ANTINCEDIO; EJ Group, Inc; IMP Armature d.o.o; Kupferle Foundry Company; McWane International; Mueller Co. LLC.; NEWAGE FIRE PROTECTION SERVICES PVT. LTD; and Rapidrop Global Ltd. are a few key companies operating in the fire hydrant market. The report comprises secondary research work on other companies that hold a significant market share in the fire hydrant market.

The overall fire hydrant market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the fire hydrant market. The process also serves the purpose of obtaining an overview and forecast for the fire hydrant market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the fire hydrant market.