The fire pump controllers market is expected to grow from US$ 201.60 million in 2022; it is expected to grow at a CAGR of 6.2% from 2022 to 2028.
Fire pump controllers are the control panels that contain electrical components such as circuit breakers, relays, switches, and other devices for the operation of fire pumps. The devices within a fire pump controller perform various functions, including receiving signals from alarm devices, activating motor control devices to provide electric power to motors, and monitoring the fire pump operation and performance. Fire pump controllers help monitor the operation status, and in case of fire, the controller will receive a signal from the pressure switch and start the fire pump.
Underwriters Laboratories (UL) and Factory Mutual (FM) both list and approve fire pump controllers. This listing ensures that regardless of manufacturer, all fire pump controllers contain specific elements and designs to ensure reliable operation in the event of a fire. Also, the minimum required components of fire pump controllers are governed by NFPA 20. The growing infrastructural and construction activities worldwide is fueling the fire pump controllers market growth. Also, development projects, such as the construction of airports, hospitals, and other facilities, are boosting the market's growth. In addition, the rising awareness of fire safety is driving the fire pump controllers market growth. Also, the integration of variable frequency drive (VFD) in fire pump controllers, which increases energy efficiency, is propelling the market growth. Moreover, technological advancements in fire pump controllers are expected to fuel the fire pump controllers market share during the forecast period.
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Fire Pump Controllers Market: Strategic Insights
Market Size Value in US$ 201.60 Million in 2022 Market Size Value by US$ 289.32 Million by 2028 Growth rate CAGR of 6.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Fire Pump Controllers Market: Strategic Insights
| Market Size Value in | US$ 201.60 Million in 2022 |
| Market Size Value by | US$ 289.32 Million by 2028 |
| Growth rate | CAGR of 6.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Fire Pump Controllers Market Size
The US was the most affected country in the North America due to the COVID-19 pandemic. In 2020, strict regulations were imposed by the US government to curb the spread of SARS-CoV-2, resulting in a temporary halt of construction activities. According to the Center for Construction Research and Training, around one million construction workers became unemployed from March to April 2020. This unemployment rate in construction further increased from 6.8% in October 2020 to 9.4% in January 2021. In August 2020, according to a report by the American Road & Transportation Builders Association (ARTBA), infrastructure projects of ~US$ 9.6 billion were delayed or canceled amid the COVID-19 pandemic. However, the resumption of construction activities in urban areas after the reduction in the lockdown restrictions in 2021 positively impacted the North America fire pump controller fire pump controllers market share.
The Europe construction industry was hit hard by the high number of COVID-19 cases in the region from 2020 to 2021. The pandemic also triggered a drop in the demand for fire pump controllers due to the halt in the construction of commercial buildings such as hotels, hospitals, office towers, and airports. This negatively impacted the European fire pump controller market growth. In addition, there was a massive disruption in the supply chain across the region due to the lockdown, which further resulted in a loss of revenue for many large and small enterprises operating in Europe. These disruptions in the supply chain halted the manufacturing processes of fire pump controllers, negatively impacting the Europe fire pump controllers market size.
Lucrative Regions: Fire Pump Controllers Market Share
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Market Insights – Fire Pump Controllers Market
Increasing Number of Strategic Alliances to Prompt Fire Safety
The growing need for a fire safety system encourages companies to produce more advanced solutions. Hence, the companies are working on various strategic alliances such as partnerships, collaborations, and mergers and acquisitions. A few of such partnerships, collaborations, and mergers and acquisitions by the companies are mentioned below:
- In June 2022, AMI Global LLC announced a strategic partnership with Peerless Pump Company, a wholly-owned company of the Grundfos Group. Under this partnership, the companies have launched Peerless FireConnect Sentry Fire Industry Monitoring Solution. The new fire pump system provides real-time information, leak monitoring, and detection, ensuring fire pump systems are always ready to act.
- In April 2022, Johnson Controls announced the acquisition of Powertec Pumps Ltd., a pump-related service provider in England. With this acquisition, Johnson Controls will be able to provide better customer service in the fire suppression sector.
- In February 2022, Keltron Corporation announced the acquisition of MIJA Industries, Inc., a leading medical, industrial, and fire protection pressure gauge application manufacturer. The acquisition will help Keltron to enhance its fire extinguisher monitoring solutions by adding high-precision fire and oxygen gauges.
Thus, through the abovementioned strategic alliances, several companies are working on helping their customers provide advanced fire safety systems, which is expected to provide potential opportunities for the growth of the fire pump controllers market.
Type-based Insights
The fire pump controllers market is segmented based on type and end-user. Based on type, the global fire pump controllers market is segmented into electric fire pump controller and diesel fire pump controller. The electric fire pump controller segment is expected to hold a significant share of the global fire pump controllers market over the forecast period. The market players providing diesel engine fire pump controllers include Hubbell Industrial Controls, Inc.; Grundfos Holding A/S; Master Control Systems; and Eaton.
Players operating in the fire pump controllers market are mainly focused on the development of advanced and efficient products.
- From January 2020, Tornatech Model MPA Medium Voltage Electric Fire Pump Controllers are available with the ViZiTouch V2 operator interface to upgrade product capabilities.
- In October 2021, Pentair Plc announced that it had acquired Pleatco for approximately US$ 255 million in cash, to expand its presence in the industrial segment. Pleatco manufactures clean-air technologies products for industrial customers.
These developments are expected to influence the fire pump controllers market growth in coming years.
The fire pump controllers market is segmented based on type and end-user. Based on type, the market is bifurcated into electric fire pump controller and diesel fire pump controller. Based on end-user, the market is categorized into industrial, commercial, and residential.
The fire pump controllers market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. In 2022, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. The fire pump controllers market analysis helps understand the upcoming trends, new technologies, and macro and micro factors that are expected to influence the market growth in coming years.
The key players profiled in the fire pump controllers market study include ComAp AS, Eaton Corp Plc, Flowserve Corp, Grundfos Holding AS, Hubbell Inc, Master Control Systems Inc, NAFFCO FZCO, Pentair Plc, Firetrol Inc, and Tornatech Inc. The fire pump controllers market report provides detailed market insights, which helps the key players strategize the growth in coming years.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global fire pump controllers market was estimated to be US$ 201.60 million in 2022 and is expected to grow at a CAGR of 6.2%, during the forecast period 2022 - 2028.
Growing Construction Activities in Residential and Commercial Buildings driving the need for Fire Pump Controllers market. The construction of commercial and residential buildings is growing worldwide, majorly in developing countries. According to the Ridgewater Homes website data, in 2021, Australia witnessed a 10% growth in the construction of residential buildings. This growth is attributed to the rising demand for houses due to rising sustained employment, record-low interest rates, and a surge in government programs such as HomeBuilder.
Emergence of Variable Speed Drive (VFD) fire pump controllers is propelling the market growth. VFDs help improve service quality and reduce associated maintenance costs. Depending on the specific situation, it can also reduce or eliminate the need for Pressure Relief Valves (PRVs). VFD-integrated fire pump controllers provide additional safety against equipment failure. Moreover, various companies are providing VFD solutions for fire safety systems.
The key players, holding majority shares, in Fire Pump Controllers market includes ComAp AS; Eaton Corp Plc; Flowserve Corp; Grundfos Holding AS; and Pentair Plc.
Asia Pacific is the fastest growing regional market, followed by Europe.
India and China are expected to register high growth rates during the forecast period.
The US held the largest market share in 2022, followed by China.
The incremental growth, expected to be recorded for the Fire Pump Controllers market during the forecast period, is US$ 87.7 million.
The List of Companies - Fire Pump Controllers Market
- ComAp AS
- Eaton Corp Plc
- Hubbell Inc
- Master Control Systems Inc
- NAFFCO FZCO
- Firetrol Inc
- Tornatech Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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