Fire Hose Market Trends

Growth Drivers

• Growing Construction of Hotels- A total of about 1,841 hotels opened around the globe in 2022. However, every hotel faces the possibility of a fire, which might pose major harm to visitors, property, and even the company's reputation. Hence, the prevention of fires in hotels is always given priority. Therefore, the demand for fire hoses is anticipated to increase.

• Drastic Changes in the Climate- According to research, climate change results in warmer, drier circumstances. Wildfire risk is rising as a result of increased drought. Hence, on account of this, the demand for fire hoses is growing.

• Surge in Fire Accidents in Oil & Gas Industry- The ignition of combustible vapors or gases poses a fire and explosion risk in the oil and gas industries. Wells, trucks, production equipment, or surface equipment could all produce flammable gases such as well gases, vapors, and hydrogen sulfide.

Challenges

• High Price of Fire Hose

• Stringent Government Regulations

• Rising Environmental Concerns – Fire hose use is slated to affect the environment. It contains various harmful substances which could be further difficult to recycle. Hence, the preference for eco-friendly firefighting solutions is growing owing to surging awareness among people. Therefore, this factor is projected to hinder the growth of the market.