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Global Fire Truck Market
Demand for modern and technologically advanced fire trucks is fueled by the implementation of strict fire safety rules, which in turn drives the market.
WILMINGTON, DE, UNITED STATES, November 19, 2024 /EINPresswire / -- According to the report published by Allied
market Research, The Global Fire Truck Market Size Reach USD 9.90 Billion by 2032 Growing at 5.0% CAGR. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
A Fire Truck is a vehicle that is specifically constructed and equipped to respond to emergencies such as fires, hazardous material events, medical emergencies, and extrication scenarios. They are an essential component of fire departments and emergency response services, helping to protect lives and property during fire and disaster conditions. Fire trucks are designed to carry essential firefighting supplies such as ladders, hoses, water pumps, and other equipment essential for fire extinguishing.
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The global fire truck market size was valued at $6.2 billion in 2022, and is projected to reach $9.9 billion by 2032, growing at a CAGR of 5% from 2023 to 2032.
The growth of the global fire truck market is driven by factors such as stringent fire safety regulations, electrification of fire trucks, and the rise in replacement of aging fire truck fleets. However, regulatory compliance and safety standards, and high initial investment hamper the growth of the market. On the contrary, the surge in the integration of advanced safety features, and technological advancements are expected to offer remunerative opportunities for the expansion of the fire truck market during the forecast period.
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Typically, these trucks are staffed with a team of firefighters responsible for operating the pump, deploying hoses, and executing other essential firefighting duties. Fire departments are increasingly focused on sustainability and reducing their carbon footprint, which has led to a growing interest in electric fire trucks. For instance, in October 2022, Pierce Manufacturing, a fire and rescue apparatus manufacturer entered into a contract with Gilbert Fire and Rescue Department in Arizona. The contract was secured for the procurement of the Volterra electric pumper, which is a specialized fire truck developed by Pierce Manufacturing. The Volterra electric pumper is designed as a custom fire truck with an electric powertrain, aiming to provide a more environmentally friendly solution for firefighting operations. Therefore, such increased interest in electric pumper fire trucks is expected to drive market demand and facilitate the advancement and wider adoption of sustainable firefighting technologies.
Based on the application, the residential and commercial segment held the highest market share in 2022, accounting for nearly half of the global fire truck market revenue, and is estimated to maintain its leadership status throughout the forecast period as there is a surge in the manufacturers provide a wide range of residential fire trucks such as tanker firetrucks, and others to meet the specific needs of firefighting operations. However, the military segment is projected to manifest the highest CAGR of 8.0% from 2023 to 2032, owing to a rise in the number of contracts between the manufacturers and the defense sector to design, build and supply firefighting vehicles to meet these specific military requirements.
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The oil and gas industry in the Middle East region demands specialized fire trucks capable of effectively managing fires and emergencies in oil refineries, offshore platforms, and other associated facilities. As the oil and gas sector continues to grow, there is a rise in the demand for customized fire trucks that cater to the specific requirements of this industry. Moreover, the military sector in Africa requires specialized fire trucks that are specifically designed to meet the unique firefighting requirements of military installations and aircraft emergencies. In addition, various manufacturers expand their product portfolio and cater to the growing demand for reliable and technologically advanced fire trucks.
Regional Analysis:
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the fire truck market revenue, and is likely to dominate the market during the forecast period, as the manufacturers in the region aim to create partnerships and other strategies for the development of new and innovative fire truck solutions. However, the LAMEA region is expected to witness the fastest CAGR of 7.3% from 2023 to 2032, owing to a rise in the demand for customized fire trucks that cater to the specific requirements of the oil & gas, and military sector.
The leading companies profiled in the fire truck market report include Oshkosh Corporation, MORITA HOLDINGS CORPORATION, Rosenbauer International AG, Alexis Fire Equipment Company, Scania, Zoomlion Heavy Industry Science & Technology Co., Ltd., NAFFCO, REV Group, Magirus, and Albert Ziegler GmbH. To strengthen the market position and increase the fire truck market share, the players have implemented strategies such as expansion, product development, agreement, contract, and others.
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The report provides a detailed analysis of these key players of the global fire truck market. These players have adopted various strategies such as product development, expansion, agreement, contract, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
Covid-19 Scenario
● The fire truck industry was severely impacted during the pandemic due to the slowdown in construction activities, infrastructure projects, and industrial operations, affecting the demand for fire trucks.
● However, as economies recovered post-pandemic, there was gradual reopening of businesses and industries and increased demand for firefighting and rescue services. This led to a rise in orders for fire trucks from municipal governments, industrial facilities, and other organizations, which resulted in market growth.
Recent Developments:
● In June 2023, Rosenbauer International AG delivered two electrically powered basic firefighting vehicles (BLF) through an agreement with the fire department and civil protection of Vienna. It is equipped with a high-voltage battery with a capacity of 66 kWh & 225 kW energy backup system (EBU) for prolonged power outages.
● In May 2023, Oshkosh Corporation through its subsidiary Pierce Manufacturing Inc. received an order through an agreement from the City of San Diego Fire-Rescue Department. Order includes 18 custom fire apparatus, including 17 Pierce fire trucks and one Frontline Communications mobile command vehicle.
● In February 2023, Oshkosh Corporation through its subsidiary Pierce Manufacturing Inc. signed a purchase agreement with the City of Madison fire department in Wisconsin for Pierce Volterra Electric Pumper. Pierce Volterra Electric Vehicle Configuration includes custom chassis with seating for six 1,500 GPM single-stage pumps, and a 500-gallon water tank.
● In April 2023, Scania launched a hybrid system for airport fire trucks, at Interschutz. It is equipped with a 6-liter, up to 770hp combustion engine and 380hp E-machine. The complete hybrid solution enables quicker response time and more sustainable and safe operations.
● In December 2022, Albert Ziegler GmbH signed an agreement to deliver a new Z6 Airfield and Rescue firefighting (ARFF) vehicle to the International Airport of Košice, Slovakia. The vehicle is built on a TITAN 6x6 chassis T39-770 6x6 and is equipped with a 770 HP Scania V8 engine.
● In March 2020, NAFFCO delivered six firefighting vehicles through an agreement to Missan Oil Fields in Iraq. The vehicles are a mix of water/foam and water/foam/dry chemical powder configurations. It is built on a Scania 6x4 with automated transmission Opti-cruise and 410 HP engine with water tanks & foam tanks.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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