The global hydrant dispensers market is expected to expand at a steady CAGR of more than 5% over the forecast period of 2021 to 2031, thanks to strong demand for air travel across the world. At least 423 new airports are scheduled to be built worldwide, with 223 in the Asia Pacific region and around 60 across Europe. This is being backed by significant investments in new airport facilities and capacity expansion. Hydrant systems, which serve as a quick and efficient means of refuelling, are part of this modern infrastructure.
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Every year, around 100 million new air passengers are added in the Asia Pacific region. BRICS nations are showing a pattern of growing urban population in search of job opportunities, which is leading to increased air travel. To accommodate this increase, governments are investing in the construction of new airports, which will drive demand for hydrant dispensers northward. For their ever-growing tourism sector, GCC countries will also invest heavily in airport infrastructure over the coming years.
Demand for hydrant dispensers registered marginal drop during the COVID-19 pandemic. The global aviation industry experienced a drop of 55% over the last financial year. As a result, aviation industry’s spending power was reduced. Since infrastructure construction was halted around the world, new airport infrastructure development and modernization were affected, leading to drop in global demand for hydrant dispensers.
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The report covers following Hydrant Dispensers Market insights and assessment that are helpful for all participants involved in the Hydrant Dispensers Market:
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