The global fire pump controllers market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global fire pump controllers market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global fire pump controllers market size is the rise in global construction and infrastructure development activities. The growing population in urban areas in developing countries such as China, and India, is stimulating the demand for new housing constructions, resulting in the exponential growth in infrastructure construction activities and development-friendly government policies. Such developments are anticipated to drive the market in focus. Furthermore, the rapid growth in industrialization is expected to drive the demand for fire safety systems. It has been observed that fire safety is a primary concern for both process and discrete industries. Therefore, the rise in construction and infrastructure development activities is expected to fuel the fire pump controllers market growth during the next five years.
As per Technavio, the evolution of green buildings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global fire pump controllers market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global fire pump controllers market: Evolution of green buildings
With the aim to minimize and reverse the severity of damage caused by human activities to the planet, several countries across the world are looking to embrace the green building movement. The concept has evolved from reducing energy consumption in buildings to currently encouraging recycling of building materials and waste, and water conservation. Such benefits of green buildings are significantly increasing their adoption across the world, which would necessitate technological innovations pertaining to the integration of automated fire safety systems, such as fire pump controllers. Therefore, the evolution of green buildings is expected to have a positive impact on the growth of the fire pump controllers market during the forecast period.
“Apart from the evolution of green buildings, other factors such as the growth in a number of skyscrapers and mixed-use developments, and the emergence of VFD fire pump controllers will have a significant impact on the fire pump controllers market growth during the forecast period,” says a senior analyst at Technavio.
Global fire pump controllers market: Segmentation analysis
This market research report segments the global fire pump controllers market by type (electric fire pump controller, and diesel fire pump controller), end-user (industrial, commercial, and residential) and geographic regions (APAC, North America, Europe, MEA, and South America).
The APAC region led the fire pump controllers market in 2018, followed by North America, Europe, MEA, and South America respectively. The population outburst in the region has fueled the demand for several consumables and other commodities, which has encouraged manufacturers to increase their production capacity through the expansion of manufacturing facilities or constructing new ones. This has led to significant investments in the integration of advanced fire safety systems into manufacturing units. As a result of the growth in manufacturing activities in the region, the demand for fuel pump controllers will increase during the forecast period.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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