Fire Trucks Market Dynamics, Growth Prospect and Consumption Analysis till 2024

Posted on 2021-03-18 by researchinsights in Automotive // 0 Comments

Felton, Calif., USA, Mar. 18, 2021 — /EPR Network/ —

The global Fire Trucks Market size is expected to value at USD 7.41 Billion by 2024. The market is subject to witness a substantial growth due to increasing focus towards fire safety and growing demand for advanced firefighting tools, particularly in the developed economies across the globe. Mass production of fire trucks has led to sale of sixteen thousand units in fiasco year. Rising prevalence of fire breakout incidences and high-end demand for effective transportation solution for firefighters are expected to boost the growth of fire truck market over the next seven years. Globally, the fire trucks industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.

Advanced application of water trucks is the fire fighter department. Specialized trucks with automated systems are used for fire prevention, which are equipped with motors and various gears. Public use of water trucks has found major preference in recent years to supply water in large quantities in areas having low water availability. The key function of a fire truck involves transportation of firefighters. Fire trucks also carry necessary equipment and water with chemical composition to deal with a fire incident.

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Favorable government laws & regulation to employ and promote use of fire trucks for medical emergency services and rescue operations are expected to stimulate market growth. The recent technological advancements in the field of fire apparatus and related equipment coupled with development of novel products such as aerial fire apparatus and fire engine are helping to lower the fatality rate in fire-related incidents. Development of wild land fire engine and wild land water tender are expected to widen scope of the fire trucks market over the forecast period.

The fire truck industry is broadly categorized into three major segments based on end-user application such as residential & commercial segment, enterprises & airports segments, military segment, and others. The residential & commercial application is considered as one of the fastest growing segment in the fire truck market with substantial revenue generation in the last couple of years. Growing demand for fire trucks from residential & commercial segment is attributed to growing global population and rapid urbanization. In addition, the residential & commercial application segment saw massive boom, in last few years, majorly in the in developed economies such as the U.K., France, the U.S. and Canada.

Enterprises & airports segment has also witnessed substantial growth, in the recent years, owing to the rising number of Aircraft Rescue Fire Fighting (ARFF) vehicles to perform airport safety and rescue operations. Enterprises & airports segment is expected to generate higher revenue over next seven years, due to the increasing number of airports and air passenger traffic.

The key players in the fire truck industry are Danko Emergency Equipment Co., Emergency One Incorporated, Spartan Motors, Inc., Xuzhou Handler Special Vehicle Co., Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., BrontoSkylift Oy, J. Morita Co., Boise Mobil Equipment, Inc., Alexis Fire Equipment Co., W. S. Darley & Co., KME Co., Albert Ziegler GmbH, and Gimaex International Co.

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Key questions answered in the report include:

What will be the market size in 2024?
What are the growth opportunities of Fire Trucks market in upcoming period?
What strategies are the market players adopting to ensure sustainability?
Which region or country driving the demand of Fire Trucks market?
How and where market players should focus to gain maximum ROI?

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