Market Research Future (MRFR) has published on the “Global Fire Truck Market”.
A fire truck is a large vehicle that is equipped with firefighting apparatus. It is used to extinguish fires, rescue people from burning buildings, and provide other emergency services. Fire trucks typically have a water tank, a pump, and hoses. They may also have ladders, axes, and other tools.
The Fire Truck market is estimated to register a CAGR of 5.6 % during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Fire Truck market - Rosenbauer International AG, Oshkosh Corporation (Pierce Manufacturing, Inc.), MORITA HOLDINGS CORPORATION, REV Group, Magirus, NAFFCO., Danko Emergency Equipment, Darley., Seagrave Fire Apparatus, LLC, TATRA TRUCKS A.S. (CZECHOSLOVAK GROUP A.S.), Sutphen and Others.
Market Highlights
The global fire truck market is accounted for to register a CAGR of 5.6 % during the forecast period and is estimated to reach USD 14,235.7 million by 2032.
The global fire truck market is expected to grow highly in the coming years. Rise in urbanization and industrialization, Increasing congestion in large cities, and awareness of fire safety. However, the lack of standard regulations for fire truck design & development. Although, technological developments market is likely to present opportunities for market players. The growing population density in cities as the huge population is moving towards cities increases the risk of fire. According to the National Fire Protection Association, in 2021, 1.35 million fires were in the US. These fire incidents caused 3,800 civilian fire casualties as well as 14,700 reported injuries to civilian fire. The property damage reported by these incidents was estimated at USD 15.9 billion. In 2021 the fire department responded to fire incidents every 23 seconds. On average, a home fire was reported every 93 seconds. Moreover, several wildfire incidents are reported worldwide, destroying lives and property.
Moreover, the government is implementing stricter fire safety regulations, which require businesses and organizations to reduce the risk of fires. Furthermore, the government is investing in firefighting to enhance and develop equipment to respond quickly to fires and protect people and property from harm. This leads to a growing demand for fire trucks, which are for fighting and rescuing people from burning buildings, thus boosting the global fire truck market.
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Segment Analysis
The global Fire Truck market has been segmented based on type, application, and region.
Based on type, the global Fire Truck market has been segmented into rescue truck, tanker, pumper, multi-tasking truck, aerial ladder, ARFF and specialty vehicles. The pumper segment is estimated to grow at a significant CAGR during the forecast period, while in 2022, while it accounted for 27.5% share.
Based on Application, the global fire truck market has been segmented into municipal, industrial, commercial, airport security and military. The municipal segment is expected to grow at a significant CAGR during the forecast period. In 2022, the segment held a 41.7% share of the global Fire Truck market.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America consists of US, Canada, and Mexico. The Europe fire Truck market comprises of Germany, France, the UK, Italy, Spain, Poland, Netherlands, Austria, Belgium, Ukraine, Romania, Czech Republic, and the rest of Europe. The fire Truck market in Asia-Pacific has been segmented into China, India, Japan, and the rest of Asia-Pacific. The fire Truck market in South America has been segmented into Brazil, Argentina, and rest of South America.
The Global Fire Truck Market was dominated by Europe with a 33.7% share, followed by North America and Asia-Pacific, while developing countries such as India and China are projected to showcase substantial growth throughout the forecast period.
Key Findings of the Study