Pune, June 27, 2023 (GLOBE NEWSWIRE) -- The global fire truck market size was USD 10.70 billion in 2022. The market is projected to grow from USD 11.05 billion in 2023 to USD 14.71 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period. The rise in demand for advanced fire combat technology and growing awareness of fire and safety to avoid fire-related tragedy are the prime factors driving the fire truck market growth. Also, rising awareness regarding fire safety worldwide is expected to drive market growth. Fortune Business Insights™ presents this information in its report titled “Global Fire Truck Market, 2023-2030.”
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Report Highlights:
| Report Coverage | Details | |
| Forecast Period | 2023-2030 | |
| Forecast Period 2023 to 2030 CAGR | 4.2% | |
| 2030 Value Projection | USD 14.71Billion | |
| Base Year | 2022 | |
| Market Size in 2022 | USD 10.70 Billion | |
| Historical Data for | 2019-2021 | |
| No. of Pages | 180 | |
Drivers & Restraints-
Growing Demand for Fire Trucks at Airports is Expected to Drive the Market Growth
Airports require fire trucks, known as Aircraft Rescue and Fire Fighting (ARFF) vehicles, specially designed for airport operations. ARFF safety vehicles are equipped and designed to respond rapidly to emergencies and to protect crew, passengers, and airport infrastructure. These safety measures are projected to drive the market growth.
The cost of maintaining existing vehicles can be high, limiting the funds available for purchasing new fire trucks. Customization can be expensive and can contribute to budget constraints, thereby limiting market growth.
COVID-19 Impact-
Supply Chain Disruptions Caused by COVID-19 Pandemic Hampered Market Growth
COVID-19 has affected the global market growth. Due to disruptions of supply chains, there has been a decline in demand and cost-cutting. To reduce the impact of COVID-19 on their operations, various market players incorporated numerous strategies.
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Segments-
Pumper Segment Dominated the Market in 2022 Due to Growing Safety Awareness
Based on product type, the market is divided into tankers, aerials, rescue, pumpers, and others.
The pumper segment held the largest market share in 2022. In densely populated cities, there is a greater need for pumper fire trucks used to navigate narrow streets and reach high-rise buildings. Pumper trucks are highly versatile and can perform various functions, including firefighting and water supply, and can also be used as rescue trucks for recuse operations.
Rising Demand for Fire Trucks in the Commercial and Residential Sectors to Support Market Growth
According to the application, the market is divided into residential and commercial, airports and enterprises, military, and others.
The commercial and residential segments dominated the market share in 2022. In the residential sector, fire trucks are initially used to respond to emergencies in residential areas and homes.
The market is studied across North America, Asia Pacific, Europe, and the Rest of the World
Report Coverage-
This report provides an analysis of the market, segmentation, drivers, regional insights, competitive landscape, and presence of key players in the market. Changes in the market are subjected to changes in the demand over the forecast period.
Regional Insights-
Europe Market to Dominate Led by Growing Fire Trucks Demand at Airports
Europe is expected to dominate the global fire truck market share in 2022. The emergency vehicle industry in Europe has been implementing innovative technologies such as autonomous driving, advanced sensors, and real-time communication systems. Europe has been a leader in reducing greenhouse gas emissions and promoting sustainability. This has led to a demand for fire trucks that are more environment-friendly such as electric fire trucks.
The Asia Pacific market is anticipated to grow, with rising demand for emergency services such as firefighting. The demand for firefighting vehicles has increased in China due to the rapidly growing urbanization in the country.
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Competitive Landscape-
Innovative Launch Operations by Key Players to Boost Market Growth
REV Group is one of the major players in the manufacturing and design of specialty vehicles. The company has 210,000 vehicles in service. REV Fire Group, a well-known fire truck manufacturer, introduced “Vector,” the North American-style first electric engine, at FDIC 2022. Emergency One Group LTD, a leading fire and rescue equipment manufacturer, develops the vehicle.
List of Key Players Covered in Fire Truck Market Report:-
- REV GROUP (U.S.)
- Oshkosh Corporation (U.S.)
- MORITA HOLDINGS CORPORATION (Japan)
- Rosenbauer International AG. (Austria)
- Alexis Fire Equipment Company (U.S.)
- ANGLOCO LIMITED (U.K.)
- Scania (Sweden)
- Mmagirus gmbh (Germany)
- Zoomlion Heavy Industry Science & Technology Co., Ltd. (China)
- GIMAEX Fire Trucks (France)
- Acres Emergency Vehicles (Canada)
Fire Truck Market Segmentation:-
By Product Type
- Aerials
- Pumpers
- Tankers
- Rescue
- Others
By Application
- Residential and Commercial
- Airports and Enterprises
- Military
- Others
Key Industry Development:
March 2023: SCANIA, one of the leading commercial vehicle manufacturers, developed a hybrid solution for marine and industrial purposes, perfectly suited for airport fire trucks (ARFF). SCANIA’s solution allows the vehicle to do all kinds of daily operations electrically.
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Table of Content:-
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Porter’s Five Forces Analysis
- Impact of COVID-19 on Fire Truck Market
- Key Industry Developments
- Global Fire Truck Market Analysis, Insights, and Forecast, 2019-2030
- Key Findings / Definitions
- Market Analysis, Insights, and Forecast – By Product Type
- Aerial
- Pumper
- Tankers
- Rescue
- Others
- Market Analysis, Insights, and Forecast – By Applications
- Residential and commercial
- Airports and Enterprises
- Military
- Others
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of World
- North America Fire Truck Market Analysis, Insights, and Forecast, 2019-2030
- Market Analysis, Insights, and Forecast – By Product Type
- Aerial
- Pumper
- Tankers
- Rescue
- Others
- Market Analysis, Insights, and Forecast – By Applications
- Residential and commercial
- Airports and Enterprises
- Military
- Others
- Market Analysis, Insights, and Forecast – By Country
- U.S.
- Market Analysis, Insights, and Forecast – By Product Type
- Canada
- Market Analysis, Insights, and Forecast – By Product Type
- Mexico
- Market Analysis, Insights, and Forecast – By Product Type
- Market Analysis, Insights, and Forecast – By Product Type
- U.S.
- Market Analysis, Insights, and Forecast – By Product Type
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