Fire Trucks Market By Product Type (Pumpers, Tankers, Rescue Fire Trucks, Aerial Platform), End-User (Enterprise & Airports, Residential & Commercial Buildings, Military) & Region - Forecast to 2019 - 2027
Fire Trucks Market - Analysis, Outlook, Growth, Trends, Forecasts
- January 2019
- 185 pages
Fire Trucks Market - Introduction
[185 Pages Report] The global demand for fire trucks market witnessed a massive downfall in the first half of 2020 on account of lockdown and social distancing barriers implemented due to the spread of coronavirus disease throughout the world. Big as well as small manufacturing companies went through the worst phase and suffered heavy losses in 2020. To overcome the previous losses, business firms in 2021 are focusing on research and developments to ensure uniqueness in their services.
Leading corporations including Oshkosh, Rosenbauer, MORITA, Magirus, Bronto Skylift, Gimaex, E-ONE and Darley are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings. They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global market for fire trucks with largest market share.
For instance, Oshkosh announced the upgrade in its Oshkosh® Striker® ARFF vehicle. The vehicle now features an optimized cockpit, updated body styling, and advanced mobility, speed, and precision. It also includes a new ergonomic cockpit layout for an enhanced driver experience, and innovative technology systems for 4x4, 6x6, and 8x8 packages. The vehicle represents innovative technology with a key focus on comfort, efficiency, and firefighter safety with an outstanding placement of buttons, color-coded controls, and functionality that allows the operator to focus on the task at hand.
In terms of growth, the market in Asia Pacific is anticipated to stay ahead at a promising revenue rate during the forecast owing to growth in the infrastructure along with raising awareness about safety. The rise in awareness about safety is expected to boost the demand for fire trucks over the forecast period. In North America, the growing awareness of advanced safety infrastructure in residential and commercial segments is driving the market. The other key regions augmenting the growth of the fire trucks market are Latin America, Europe, APEC (Asia Pacific Excl. China), China and ROW (Rest of World).
The published report highlights the vital information regarding the Fire Truck market dynamics & trends, value (US$ Mn) and volume (Units) estimations, recent innovations & developments and macro-economic factors for the study period 2019 to 2027.
Fire trucks are specialized vehicles that come armed with numerous equipment & assemblies used during rescue and firefighting tasks, such as fire extinguishers, long hoses that can connect to fire hydrants, and ladders etc. Supply of water and transportation of equipment and firefighters are some of the important tasks performed by fire trucks.
The global fire truck market is expected to expandat a CAGR of 3.6% for the period between 2018 and 2027. Increasing incidences of forest fires across the globe will especially drive the demand for fire trucks during the forecast period.
Growing Safety Concerns and Stringent Regulations to Push Market Growth
Growing demand for safety across the globe is the key factor expected to push the demand for fire trucks during the forecast period. The fire department must update its equipment and mechanical assemblies in fire trucks to keep up with the innovations & technological advancements in the fire truck market.
Thus, constant alterations are made as regulations and guidelines implemented by affiliations, such as the National Fire Protection Association (NFPA) in the U.S. and other government bodies, must be met with.
Infrastructural advancements in developing nations have driven administrative and regulatory bodies to implement stringent codes and standards to reduce infrastructural harm and sudden losses, which is anticipated to be a key force increasing the sales of fire trucks in the global marketplace.
Specialized Fire Trucks Are Gaining Popularity in the Market
With growing innovations in the market, manufacturers and suppliers present in the value chain of the fire trucks market are implementing novel innovation practices to reap maximum benefits in the competitive universe. These manufacturers are expanding their fire truck portfolio to address the growing challenges faced during firefighting and rescue events.
Globally, the fire trucks market is segmented into different vehicle types, such as tankers, pumpers, rescue fire trucks and aerial platforms, among others. Rescue fire trucks and aerial platform trucks, collectively, dominate the overall market and are expected to gain substantial share over the forecast period. Growing natural calamities are prompting rescue fire truck manufacturers to upgrade their fire trucks with advanced apparatuses and equipment and thus, manufacturers are increasing the production of rescue fire trucks.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Residential & Commercial Application Segment to Contribute Significantly to Global Market Growth
The residential & commercial application segment captures the largest value share in the fire trucks market and is expected to continue to hold the same over the forecast period because of growing population, which has prompted the demand for the construction of commercial & residential structures.
Developing interest in cutting-edge fire mechanical assemblies and apparatuses in developed nations such as, France, UK, and the U.S, and other developing nations, is leading to growing adoption of fire trucks in North American and European countries.
Growing use of Aircraft Rescue Fire Fighting (ARFF) vehicles or fire trucks used in airports for air terminal security and rescue operations is expected to drive the demand for fire equipment and safety apparatuses at airport terminals. The Enterprise & airports segment captures approximately 20% volume share in the fire truck segment. This application section is expected to pick pace because of developing number of air terminals and air traveler traffic.
North America & Europe to Collectively Dominate the Global Fire Trucks Market in Terms of Volume
Stabilizing economic conditions and steady growth in fire truck production and sales in North America and Europe are the prominent factors expected to drive the fire truck market in the region. Both regions are well placed as operational hubs for major fire truck manufacturers. These manufacturers have their technologically advanced automated manufacturing units in the region.
However, numerous small-sized and mid-sized enterprises present in the fire trucks manufacturing space are opening manufacturing units in countries present in the eastern part of the globe, such as China, India, ASEAN, and Russia, among others. Inexpensive labor cost in Asian countries is one of the key enabling factors for this shift.
Also, expansion of fire truck applications in residential and manufacturing sector is anticipated to support overall market growth. China & other Asian countries are expected to cumulatively capture more than one-third of the global fire truck volume share by 2027. Brazil in ROW is turning into a major producing hub for fire trucks in LA region.
Overview of the Fire Trucks Market Structure
The global fire truck market is a highly consolidated market with the top 7 players in the market place capturing almost 50%-55% of market value share. Over the past few years, the manufacturers have come up with various strategic initiatives to reap maximum benefits in the fire truck market.
These manufacturers are adopting emerging business models, such as collaborations and acquisitions, and are entering into long-term supply contracts with distributors to attain the top position in the fire truck market place. Some of the key players covered under this fire trucks report include Rosenbauer International, Oshkosh Corporation and Magirus GmbH, among others.
Key Questions Answered in the Report
- How has the Fire Truck market evolved in the past four years?
- What shape is the Fire Truck market expected to take, in terms of value and volume, during the forecast period?
- What are the dominant market dynamics in the Fire Truck market?
- How is the competition landscape at the moment and what are some of the trends in the Fire Truck market?
- What are some of the underlying macroeconomic and industry factors impacting the growth of the Fire Truck market?
Fire Trucks Market: Segmentation
On the basis of product type, the global fire trucks market has been segmented into:
- Rescue Fire Trucks
- Aerial Platform
- Other Speciality Trucks
On the basis of end users, the global fire trucks market has been segmented into:
- Enterprise & Airports
- Residential & Commercial Buildings
On the basis of region, the global fire trucks market has been segmented into:
- North America
- Latin America
- APEC (Asia Pacific Excl. China)
- ROW (Rest of World)