Fire Trucks Market - By Type (Tankers, Pumpers, Aerial Platforms, Rescue Fire Trucks, Others), By Application (Enterprises & Airports, Military, Residential & Commercial, Rescue, Others): Global Market Analysis, Trends, Opportunity and Forecast, 2020-2025
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The Fire Trucks Market is anticipated to flourish at a CAGR of 3.8% over the forecast period i.e. 2020-2025. Further, the market for fire truck was valued at USD 4,268.2 Million in 2019. Fire trucks are specially designed for firefighting operations. There are various type of fire trucks including tankers, pumpers, aerial platforms, rescue fire trucks, among others.
Growth Drivers – Fire Trucks Market
Rise in Municipality Budgets and Government Aids
Owing to rising demand for safety, government of various nations and municipal corporations are spending significant amount of money on fire safety. This factor is pushing the demand for fire trucks market. Moreover, fire safety associations of several countries are making continuous amendments and regulations which is further expected to push up the demand for fire trucks.
According to National Fire Protection Association, United States fire department responds to 366,600 home structure fires a year. These fires account for USD 7.2 billion in direct property damage. Further, government agencies and associations are bringing new guidelines and regulations to bring this number down. These guidelines include adoption of upgraded equipment and new technologies.
Growing Infrastructure Developments
Continuous rise in infrastructure developments in various nations is pushing the demand for safety. Government agencies are enforcing stringent safety regulations in various infrastructure sectors including residential, commercial, airports, among others. This rising demand for safety is another key factor which is fostering the growth of global fire trucks market.
Fire trucks industry is witnessing continuous technological advancements in terms of firefighting technologies. Furthermore, rising adoption of advanced and new technologies is anticipated to further foster the growth of global fire trucks markets. Moreover, owing to improving economy conditions of underdeveloped countries, municipal budgets are gradually rising. This factor is anticipated to provide envisioned growth to the market in the years ahead.
Barriers – Fire Trucks Market
Presence of Local Vendors in Market
In few countries, the demand for new fire trucks is believed to slow owing to dampening demand for industry operators. Also, growth in state and local government investment in some regions is anticipated to be slow which will hamper the growth of global fire trucks market.
The fire truck market by type is segmented into tankers, pumpers, aerial platforms, rescue fire trucks and others. Rescue fire trucks and aerial fire trucks captured significant part of market in 2019. Moreover, it is anticipated to continue its dominance during the forecast period. Factors such as growing automotive sales and increasing awareness about importance of purified air in car is anticipated to foster the growth of fire truck market.
Global fire truck market is also segmented by application into enterprises & airport, military, residential & commercial, rescue and others. OEM segment is estimated to hold the leading share in the market as on the account of rising production capacity of automotive vehicles.
Geographically, the report offers analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In fire truck market, Asia Pacific captured highest percentage of market share in global fire truck market. Growing number of automotive vehicles sales and rising affluent middle-class population is expected to intensify the growth of Asia Pacific fire truck market. Moreover, Asia Pacific market is likely to witness lucrative growth over the forecast period. Countries such as China and India are believed to showcase increased demand for vehicles. This factor will further boost the growth of fire truck market.
The report profiles various major market players such as
- Rosenbauer International AG
- Boise Mobile Equipment Inc.
- Pierce Manufacturing, Inc.
- Spartan ERV
- REV Group
- Alexis Fire Equipment Company
- Midwest Fire
- Seagrave Fire Apparatus, LLC
- Fouts Bros Fire Equipment
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in fire truck market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global fire truck market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Fire Trucks Industry Report:
- What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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