The North American fire pump market, as reported by Research and Markets, is expected to see significant growth.
The market size is projected to increase from $568.881 million in 2024 to $743.5 million by 2031, growing at a compound annual growth rate (CAGR) of 3.9%.
This growth is driven by increasing urbanization and stricter building codes.
Historically, the market faced challenges due to economic slowdowns and the COVID-19 pandemic.
However, the market is now on a recovery path with a positive year-on-year growth outlook.
Fire pumps are integral to building safety systems, required by U.S. (NSPA 20) and Canadian (National Building code, Section 32) building regulations.
They maintain necessary water pressure in sprinklers and standpipes during fires.
Key economic factors, such as a strengthening U.S.
dollar and high home sales, have positively impacted fire pump sales.
The rise in global warehouse inventory has spurred the construction of new warehouse facilities, increasing the demand for fire safety equipment, including fire pumps.
Digitalization and the Internet of Things (IoT) are also transforming industrial automation.
IoT-enabled fire pumps and cloud-based fire monitoring solutions are becoming more prevalent.
Leading firms, like Peerless, have implemented cloud-based monitoring solutions, allowing businesses to receive fault notices and monitor operational characteristics from anywhere over the Internet.
Despite the positive outlook, high maintenance costs of fire pumps pose a challenge.
No-flow/churn testing, required by NFPA 25, is a recurring expense.
Maintenance costs, particularly for diesel fire pump systems, negatively impact demand in the region.
The United States holds a dominant share in the North American fire pump market.
Frequent fire incidents and substantial property loss have prompted the government to prioritize safety.
The National Fire Protection Association (NFPA) standards and building codes for fire pump usage have driven the market in the U.S.
In Canada, the fire pump market is expected to grow at a higher rate than the regional average.
Structural fires are prevalent, with commercial and residential fires being the most common.
Growth in manufacturing, metals and mining, and real estate sectors is expected to create opportunities for fire pump suppliers.
Horizontal split case fire pumps are expected to dominate the market due to their high efficiency, low maintenance, and long operational life.
The commercial sector is the top consumer of fire pumps in North America, with installations in educational institutions, corporate offices, lodging, amusement parks, airports, rail, and metro stations.
The COVID-19 pandemic significantly impacted the fire pump market supply chain in North America.
The pandemic’s intensity, magnitude, and length, along with its economic repercussions, have had unpredictable impacts on the market.
Companies have had to adapt to changes in business and economic conditions.
Although there has been a slight recovery, uncertainty regarding supply chain and market growth persists.
The North American fire pump industry is gaining momentum with the presence of various system developers, manufacturers, and service providers.
Prominent manufacturers are collaborating with service providers and regional dealers for better market opportunities.
