Emergency Ambulance Vehicle Market Size was valued at USD 14.8 billion in 2022. The Emergency Ambulance Vehicle market industry is projected to grow from USD 15.37 Billion in 2023 to USD 20.81 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.86% during the forecast period (2023 - 2032). Growth in the healthcare industry and road accident deaths growing aging population are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The expansion of the industry will be driven by the growing elderly population worldwide and their increased reliance on emergency ambulance vehicles. According to the United Nations Department of Economic and Social Affairs, the population aged 60 and above is expected to grow by 56% between 2015 and 2030, reaching around 1.4 billion individuals. Furthermore, by 2050, the global population of elderly individuals is projected to more than double compared to 2015, reaching nearly 2.1 billion. The rise in the aging population has led to a significant increase in the demand for healthcare services. Technological advancements in the healthcare sector have also improved life expectancy worldwide. The growing population of elderly individuals has created a need for emergency ambulance vehicles, driving the market's growth. Thus, the impact of the growing aging population is expected to shift from moderate to high during the forecast period. This factor drives the Market CAGR.
Additionally, the demand for emergency ambulance vehicles is closely tied to the growth of the healthcare industry. These vehicles are vital in saving lives during emergencies when immediate medical attention is required, and the distance to a hospital is significant. The increasing demand for emergency ambulance vehicles from the healthcare sector has significantly contributed to the overall growth of this market. The healthcare industry relies heavily on these vehicles for efficient emergency medical services. Additionally, the rise in medical tourism worldwide has further propelled the growth of the healthcare industry, subsequently increasing the demand for emergency ambulance vehicles.
Furthermore, the import and export of ambulance equipment globally have also expanded the healthcare industry and the subsequent demand for these vehicles. As a result, the healthcare industry's growth is expected to create opportunities for the Emergency Ambulance Vehicle Market in the foreseeable future. Thus, driving the Emergency Ambulance Vehicle market revenue.
Based on Vehicle Type, the Emergency Ambulance Vehicle Market segmentation includes Vans, Cards, Motorcycles, and Others. The vans segment dominated the market; The vans are converted into advanced ambulances equipped with lifesaving equipment that enable hospitals and other healthcare institutions to provide the best medical care. The trend of clinics on wheels for special care and serving patients in urban and rural areas in hard-to-reach locations is growing rapidly.
Based on Application, the Emergency Ambulance Vehicle Market segmentation includes Hospitals, Emergency centers, and others. The hospital segment emerged as the dominant player in the market in 2022, mainly attributable to its role in handling a substantial volume of emergency cases. Hospitals with specialized medical staff and advanced facilities are the preferred choice for immediate medical attention in critical situations. Hospitals have well-trained medical staff and advanced equipment, enabling them to provide superior care to patients. As a result, hospitals continue to be the preferred choice for emergency medical services, contributing to their dominance in the market. Hospitals that provide treatment and diagnosis for various disorders, including general hospitals, specialist institutions, and mental & rehab institutions, drive the demand for the emergency ambulance vehicles market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American emergency ambulance vehicle market will dominate this market due to the increased need for emergency care before hospitalization, the rising number of emergency cases, and the presence of major market players in this Region will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Emergency Ambulance Vehicle market accounts for the second-largest market share due to the rise due to more direct government involvement in 24/7 ambulance service and technical advancements in emergency ambulance vehicles. Further, the German Emergency Ambulance Vehicle market held the largest market share, and the U.K. Emergency Ambulance Vehicle market was the fastest-growing market in the European Region.
The Asia-Pacific Emergency Ambulance Vehicle Market is expected to grow fastest from 2023 to 2032. The market dominance of the hospital segment can be attributed to several factors. Firstly, there is a growing demand for top-notch healthcare facilities, with patients seeking high-quality medical services and advanced treatments. Additionally, the rising number of road accidents and emergencies necessitates the availability of well-equipped hospitals to provide immediate and effective care. Furthermore, the development of healthcare infrastructure, including the establishment of modern hospitals and medical centers, has further strengthened the position of the hospital segment.
Moreover, favorable reimbursement and regulatory reforms in healthcare policies have created a conducive environment for hospitals to thrive. These factors collectively contribute to the hospital segment's dominance in the market. Moreover, China’s Emergency Ambulance Vehicle market held the largest market share, and the Indian Emergency Ambulance Vehicle market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Emergency Ambulance Vehicle market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The emergency Ambulance Vehicle industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Emergency Ambulance Vehicle industry to benefit clients and increase the market sector. The Emergency Ambulance Vehicle industry has offered some of the most significant advantages in recent years. Key players in the Emergency Ambulance Vehicle market, including Toyota Motor Corporation (Japan), R.E.V. Group, Inc. (U.S.), Volvo Group (Sweden), Daimler AG (Germany), M.A.N. S.E. (Germany), Renault Trucks (France), Ford Motor Company (France), Leader Emergency Vehicles (U.S.), Lifeline Emergency Vehicles (U.S.), W.A.S. Ambulance (U.K.), BAUS AT (Poland)., various companies, including Volvo, are actively investing in research and development initiatives to boost market demand. These efforts reflect their commitment to innovation and continuous improvement to meet customers' evolving needs and preferences.
Volvo Group is a multinational manufacturing company headquartered in Gothenburg, Sweden, renowned for its production, distribution, and sales of trucks, buses, and construction equipment. Alongside these core operations, Besides its renowned trucks, buses, and construction equipment, Volvo is also involved in providing marine and industrial drive systems and financial services. In a notable development, A.B. Volvo has initiated manufacturing its C40 electric vehicles in Belgium, reflecting its dedication to diversifying its products with eco-friendly and sustainable transportation solutions. This expansion into electric vehicles underscores Volvo's commitment to reducing environmental impact and promoting a greener future in the automotive industry. By introducing electric vehicles, Volvo aims to contribute to reducing emissions and support a greener future in the automotive industry.
R.E.V. Group, Inc. is an American manufacturer of specialty vehicles, including ambulances, buses, firefighting apparatus, and recreational vehicles. R.E.V. Group and Lightning eMotorssigned an agreement & strategic partnership to manufacture and deploy zero-emission, all-electric Type A school buses.
October 2021: A.S. Ambulance merged with LUEG Group to boost its presence in the commercial vehicle market's attractive vehicle coach and conversions segment.
September 2021: R.E.V. Group and Lightning eMotors signed an agreement & strategic partnership to manufacture and deploy zero-emission, all-electric Type A school buses.
August 2021: M.A.N. S.E. launched its new three-axle M.A.N. Lion's Coach L with a wheelchair lift and up to twelve wheelchair spaces for handicapped individuals.
September 2020: A.B. Volvo has agreed with NFI Industries, a leading third-party supply chain solutions provider, to supply them with their V.N.R. Electric heavy-duty trucks. These trucks will be utilized to efficiently transport freight across various operating conditions. The collaboration between Volvo and NFI Industries highlights Volvo's commitment to advancing the adoption of electric vehicles in the commercial transportation sector. By leveraging the V.N.R. Electric trucks, NFI Industries will enhance logistics operations while contributing to a more sustainable and environmentally friendly future.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 14.8 billion |
| Market Size 2023 | USD 15.37 billion |
| Market Size 2032 | USD 20.81 billion |
| Compound Annual Growth Rate (CAGR) | 3.86% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vehicle Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Toyota Motor Corporation (Japan), R.E.V. Group, Inc. (U.S.), Volvo Group (Sweden), Daimler AG (Germany), M.A.N. S.E. (Germany), Renault Trucks (France), Ford Motor Company (France), Leader Emergency Vehicles (U.S.), Lifeline Emergency Vehicles (U.S.), W.A.S. Ambulance (U.K.), BAUS AT (Poland). |
| Key Market Opportunities | Growth in the healthcare industry |
| Key Market Dynamics | Road Accident Deaths Growing aging population |
Emergency Ambulance Vehicle Market Highlights:
Frequently Asked Questions (FAQ) :
The Emergency Ambulance Vehicle Market size was valued at USD 14.8 Billion in 2022.
The global market is estimated to grow at a CAGR of 3.86%during the forecast period, 2023-2032.
North America witnessed the largest share of the global market
The key players in the market areToyota Motor Corporation (Japan), R.E.V. Group, Inc. (U.S.), Volvo Group (Sweden), Daimler AG (Germany), M.A.N. S.E. (Germany), Renault Trucks (France), Ford Motor Company (France), Leader Emergency Vehicles (U.S.), Lifeline Emergency Vehicles (U.S.), W.A.S. Ambulance (U.K.), BAUS AT (Poland).
The Vans Vehicle category dominated the market in 2022.
Hospitals had the largest share of the global market.
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