NEW YORK, Aug. 23, 2023 /PRNewswire/ — The fire pump controllers market size is estimated to grow by USD 295.04 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.06% during the forecast period. Also, the growth momentum will progress. For more insights on the historical (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report
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Fire Pump Controllers Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on End-user (Industrial, Commercial, and Residential), Type (Electric fire pump controller and Diesel fire pump controller), and Geography (APAC, North America, Europe, Middle East, and Africa, and South America).
- The industrial segment is estimated to witness significant growth during the forecast period. The demand for fire safety equipment is increasing due to harsh environmental conditions in industries such as oil and gas, chemical and petrochemical, mining, and metals involved in the production of high-explosive products. Moreover, the fire pump controller is one of the important elements of an industrial firefighting system. In addition, it helps in controlling the speed of the pump-to-pump water from a source into the building in case of fire. Hence, these factors are expected to drive segment growth during the forecast period.
Geography Overview
By geography, the fire pump controllers market is segmented into APAC, North America, Europe, the Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fire pump controllers market.
- APAC is estimated to contribute 43% to the growth by 2027. The region is considered a major hub for the manufacturing activities of a majority of industries, including the key end-users of fire pump controllers due to which the market is growing. As a result, the increase in population has spurred the growth of some consumables and other goods which in turn increases the demand for pump controllers. Hence, these factors are expected to drive market growth in the region during the forecast period.
Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report
Fire Pump Controllers Market-Market Dynamics
Key Driver
The increasing availability of IoT-enabled pump controllers is a key factor driving market growth.
Major Trend
The emergence of VFD fire pump controllers is a major trend in the market.
Significant Challenge
The downturn in the industrial sector is a significant challenge that limits the growth of the market. This is due to slowing industrial growth and economic recession globally. China is one of the major countries with the largest market share for fire pump controllers. However, the economic downturn and the weakening of the currency have had a significant impact on the growth of the fire pump controllers market in China. Hence, such factors are expected to hinder the fire pump controllers market growth during the forecast period.
Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Fire Pump Controllers Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the fire pump controllers market between 2023 and 2027
- Precise estimation of the size of the fire pump controllers market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the fire pump controllers market across APAC, North America, Europe, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of fire pump controllers market companies
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End User
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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SOURCE Technavio
