Report Scope & Overview:
Fire Truck Market Size was valued at USD 6.06 billion in 2022 and is expected to reach USD 10.42 billion by 2030 and grow at a CAGR of 7.0% over the forecast period 2023-2030.
The primary and most important function of a fire truck is to carry firemen to the scene of an accident while also supplying them with the water supply, they need to put out an emergency. On the other hand, the employment of fire trucks and fire engines is not really restricted to the exclusive aim of fighting fires. These services are utilized by the fire and safety houses even in the event of urgent medical and rescue concerns. Stepladders, hydraulic rescue gears, self-contained breathing apparatuses, aerating, and various types of first aid equipment are examples of the kind of tools that are commonly found in fire engines.
In a word, fire trucks are purpose-built for the sole purpose of responding to a wide variety of urgent situations, which enables them to get the situation under control and perhaps save lives. Accidents of this nature are well-served by the fire truck's modern rescue equipment. In some regions, fire engines are referred to as fire trucks. On fire trucks, mobile computer technology is employed as a means of communication in addition to two-way radios and visible and aural alerts.
In 2021, Morita Group has implemented a BLE (Bluetooth Low Energy) solution that, with the help of Quuppa Locators and Kokusai Kogyo software, can pinpoint the precise location of each fire engine to an accuracy of one meter or better.
Increased worldwide interest in fire safety.
The market is growing as a result of the increasing demand for cutting-edge firefighting equipment.
The high-quality construction of infrastructure in developing nations.
The rise is bolstered even further by an increased acuity for fire safety measures.
Engine manufacturing's rapid expansion has been slowed by the industry's expensive start-up expenses.
Low replacement rates and a lack of necessary equipment for the development of fire engines.
It is anticipated that an increase in the fire truck's initial price will reorient the market.
Increase in airport and business safety infrastructure requirements.
As government standards for fire safety compliance become stricter.
Advanced technologies improve teamwork & quality by supporting performance-based design & field surveys.
Fire trucks require high-quality equipment and raw materials to withstand tough circumstances.
The expenses associated with the trucks are considered to be quite significant.
IMPACT OF COVID-19:
The most significant factor contributing to the worldwide fire truck market's anticipated slow growth in 2020 is the emergence of the COVID 19 pandemics. The increase in the drop for the demands of trucks as the government jurisdiction is busy managing more cash for the treatments of the people affected by the coronavirus. Because of COVID-19, the manufacturers are required to reduce the number of fire vehicles they produce, which is likely to slow the expansion of the market. In addition, because of restrictions imposed on international trade, manufacturers are experiencing a lack of available raw materials to use in the production of fire trucks. This is having a direct impact on the production capacity of the manufacturers, which is why the growth rate of the global fire truck industry is expected to be relatively sluggish in the coming years.
Market, By Type:
The global market has been divided into Rescue Trucks, Tanker, Pumper, and Multi-tasking Trucks based on the type segment. The Rescue fire trucks are expected to have the biggest market share. As a result of an increase in the number of people who have lost their lives as a result of natural disasters and fires, producers of rescue fire trucks have been encouraged to adopt technologically advanced equipment and modernize their firetrucks.
Market, By Application:
The global market has been divided into Residential & Commercial, Enterprises & Airports, and Military based on the application segment. It is predicted to develop at a CAGR of 7 percent over the forecast period for the residential and commercial applications of the market. As the world's population grows, so will the need for new homes and businesses, which in turn will drive up the price of construction materials.
Residential & Commercial
Enterprises & Airports
Markets for fire trucks around the world have been broken down into four main regions, including North America, Europe, Asia Pacific, and everywhere else. Because of the rapid introduction of new technologies, a stable economy, and the presence of major key manufacturers in the area, North America is expected to hold the largest market share over the projection period. This is further bolstered by the increasing demand for safety features in automobiles and the increased investment in developing firefighting sectors by both commercial and public sector players. With a growing population and a growing understanding of the value of firefighter gear in society, the Asia Pacific area is likewise experiencing rapid market expansion.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Rosenbauer International AG (Austria), Oshkosh Corporation (Japan), Zoomlion Heavy Industry Science & Technology Co., Ltd., (China), Alexis Fire Equipment Company (USA), MORITA Holdings Corporation (Japan), W. S. Darley & Co. (USA), ALBERT ZIEGLER GmbH (Germany), KME Corp. (USA), Spartan Motors (USA), and Magirus GmbH (Germany) are some of the affluent competitors with significant market share in the Fire Truck Market.
Oshkosh Corporation (Japan)-Company Financial Analysis
|Market Size in 2022
|US$ 6.06 Billion
|Market Size by 2030
|US$ 10.42 Billion
|CAGR of 7% From 2023 to 20230
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• by Type (Rescue Trucks, Tanker, Pumper, Multi-tasking Trucks)
• by Application (Residential & Commercial, Enterprises & Airports, Military)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Rosenbauer International AG (Austria), Oshkosh Corporation (Japan), Zoomlion Heavy Industry Science & Technology Co., Ltd., (China), Alexis Fire Equipment Company (USA), MORITA Holdings Corporation (Japan), W. S. Darley & Co. (USA), ALBERT ZIEGLER GmbH (Germany), KME Corp. (USA), Spartan Motors (USA), and Magirus GmbH (Germany)
|•Increased worldwide interest in fire safety.
•The market is growing as a result of the. increasing demand for cutting-edge firefighting equipment.
|•Engine manufacturing's rapid expansion has been slowed by the industry's expensive start-up expenses.
•Low replacement rates and a lack of necessary equipment for the development of fire engines.
Ans:- The market size is expected to reach USD 5.67 billion by 2021.
Ans:- North American region is anticipated to be the primary driver of the market.
Ans:- Increase in airport and business safety infrastructure and advanced technologies improve teamwork & quality are the most promising aspects/opportunities of the fire truck market.
Ans:- The study includes a comprehensive analysis of market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter’s five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
184.108.40.206 United Kingdom
220.127.116.11 South Korea
18.104.22.168 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Fire Truck Market Segmentation, By Type
8.1 Rescue Trucks
8.4 Multi-tasking Trucks
9. Global Fire Truck Market Segmentation, By Application
9.1 Residential & Commercial
9.2 Enterprises & Airports
10. Regional Analysis
10.2 North America
10.2.1 the USA
10.3.2 the UK
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Spartan Motors (USA),
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Rosenbauer International AG (Austria)
11.3 Oshkosh Corporation (Japan)
11.4 Zoomlion Heavy Industry Science & Technology Co., Ltd., (China)
11.5 Alexis Fire Equipment Company (USA)
11.6 MORITA Holdings Corporation (Japan)
11.7 W. S. Darley & Co. (USA)
11.8 ALBERT ZIEGLER GmbH (Germany)
11.9 KME Corp. (USA)
11.10 Magirus GmbH (Germany)
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share analysis
12.3 Recent Developments
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