An Incisive, In-depth Analysis on the Fire Trucks Market
This study offers a comprehensive, 360 degree analysis on the Fire Trucks market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Fire Trucks market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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.
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: Report Description
This FMI (Future Market Insights) report offers a nine-year forecast and analysis for the global fire trucks market between 2019 and 2027. The fire trucks market scope considers 2018 as the base year with market values predicted for 2019 and a forecast developed for the period of 2019 to 2027. The CAGR (Compound Average Growth Rate) has been represented from 2019 to 2027.
The fire trucks scope covers several viewpoints of the market, including market dynamics, value chain and competition analysis, pricing analysis, macroeconomic, regional and segmental growth comparison and industry growth analysis, along with segment-level forecast in a comprehensive manner. As per the findings of the scope and viewpoints of industry participants, the global fire trucks market is projected to grow at a CAGR of 3.6% between 2017 and 2027, in terms of value. Increasing expenditure on public safety by governments across the globe is anticipated to positively impact the uptake of fire trucks in the global market.
FMI’s (Future Market Insights) report on the fire trucks market carefully examines the market at a regional and global level through market segmentation on the basis of parameters, such as product type, end users and region. The fire trucks market report also highlights an overview of the market by region wherein the demand for fire trucks has been tracked for various countries across each region. The data gathered has been studied across each of the countries. The key objective of the report is to offer current trends, fundamental insights on market updates and growth rates, competition positioning, market potential and other relevant statistics and information in an apt manner to the readers and stakeholders in the fire trucks market.
A fire truck, commonly known as a fire engine, is a large vehicle which conveys fire fighters and equipment to fight fire. These vehicles are mainly designed for fire fighting operations. Many companies employ these vehicles for several applications, such as emergency medical purposes and rescue purposes. Usually, a fire truck carries equipment, such as ventilating equipment, hydraulic rescue tools, self-contained breathing apparatuses, ladders and first aid kits. Common types of fire trucks used in fire fighting are pumpers, tankers, rescue fire trucks, aerial platforms and other speciality trucks.
The fire trucks market scope is intended to enable the reader to develop a systematic understanding of the fire trucks market. The global fire trucks market report starts with market taxonomy, market definitions, followed by the market background (which includes value chain analysis, market dynamics, macroeconomic factors, cost structure analysis, etc.), regional analysis and competitive landscape. All the sections in the global fire trucks market report cover a qualitative as well as quantitative assessment of the fire trucks market on the basis of key opinions gathered from industry experts, facts, trends and historical developments in the market.
Fire Trucks Market: Segmentation
The global fire trucks market has been segmented on the basis of product type, end user and region.
On the basis of product type, the global fire trucks market has been segmented into:
Rescue Fire Trucks
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:
APEC (Asia Pacific Excl. China)
ROW (Rest of World)
The global fire trucks market report begins with the market taxonomy, which defines product definitions concerning the global fire trucks market assessment. In the next section, the report describes market view points, which includes value chain analysis covering approximate profit margins, market dynamics, product life cycle stage, intensity mapping, etc. The market background section also discusses market dynamics, such as drivers, restraints, opportunities and trends, impacting the fire trucks market growth at a global level.
The following sections of the report provide volume (Units) and value (US$ Mn) projections for the fire trucks market on the basis of segments, such as product type and end user, at a global level. The global market values given in this section have been agglomerated by collecting information and data at a regional level. Information provided on the global fire trucks market, along with key facts and insights, covers distinctive analysis frameworks, such as absolute $ opportunity analysis, market attractiveness analysis, market share analysis, and year-on-year growth trend comparison, for each of the types included under each segment.
Moreover, for market forecasting, we extracted data about usability of fire trucks in firefighting. Growth in end use sectors is expected to have a direct impact on the demand for fire trucks. We triangulated the data from three different types of analysis, based on primary research, secondary research and our own analysis.
The succeeding section of the report provides a brief outlook for the global fire trucks market for six regions including North America, Latin America, Europe, APEC (Asia Pacific excluding China), China and ROW (Rest of World). The section includes market attractiveness analysis, growth potential and regional market position for each of these regions.
Fire Trucks Market: Competition Landscape
In the last section of the report, a competitive landscape for the fire trucks market has been included to provide report viewers with a dashboard view characterized on the basis of manufacturers, key differentiating strategies and factors and their presence in the fire trucks market. This section covers market share analysis and market structure analysis of the key players in the global fire trucks market. Detailed profiles of key players have also been incorporated under the scope of the report to evaluate their key offerings, strategies and recent developments in the fire trucks market. Examples of some of the key players covered under the fire trucks report include Rosenbauer International AG, Oshkosh Corporation, Magirus GmbH, Spartan Motors, Morita Holdings Corporation, REV Group, Naffco, Ziegler Group, Danko Emergency Equipment, Co. and Zoomlion Heavy Industry Science & Technology Co., Ltd.