NEWARK, Del, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The global fire trucks market is expected to expand at a CAGR of 3.7% from 2023 to 2033. The overall market value is projected to reach US$ 8,549.6 million by 2033. The demand for fire trucks was around US$ 5,741.6 million in 2022.
The rising need for dependable equipment on the vehicle and cutting-edge firefighting technology have substantially transformed the fire truck industry in the last few years. Increased fire and safety awareness to prevent fire-related fatalities has also surged the demand to establish fire truck stations in rural areas.
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Besides high-rise buildings and industrial complexes, bustling streets in metropolitan cities have necessitated specialized firefighting trucks and equipment. So, modern and advanced fire vehicles better suited to tackle all kinds of situations are garnering higher traction in the market.
“As natural disasters are getting more common, the establishment of rescue fire truck manufacturing facilities is expanding with federal support in several countries. Manufacturers and suppliers in the municipal fire department trucks are adopting new, creative strategies to get the most out of the intense competition,” - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Fire Truck Market Study Report
- The United States continues to be the leading market for fire trucks and is poised to advance at a CAGR of 2.7% through 2033.
- Due to Germany's status as a global hub for automotive components, the demand for firefighting trucks is anticipated to surge at 5.5% CAGR through 2033.
- China dominates the Asia fire truck market and is expected to progress at a lucrative 4.4% CAGR during the forecast period.
- The India fire truck industry is thriving, with regional players expecting an annual growth rate of 4.3% from 2023 to 2033.
- Increasing production and sales of tankers is expected to increase this segment's global revenue share from 29.9% in 2022.
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Competitive Landscape for the Fire Truck Market
Considering many well-established suppliers and manufacturers, the worldwide market for emergency response trucks is quite competitive. New industry participants imitate leading players like Rosenbauer and Oshkosh, who have strengthened their worldwide positions via advanced product developments and strategic collaborations.
Key Players
- Rosenbauer International AG
- Oshkosh Corporation
- Magirus GmbH
- Spartan Motors
- Morita Group
- REV Group
- Naffco
- Ziegler Group
- Danko Emergency Equipment Co.
- Zoomlion
Recent developments in the Fire Truck Industry
- The REV Fire Group unveiled Vector, its first-ever electric engine in North America, during FDIC 2022 in April of that year. The engine was developed in collaboration with Emergency One Group LTD, a preeminent fire and rescue apparatus producer in the United States. Likewise, SCANIA created a hybrid vehicle for industrial and maritime use in March 2023 that is ideal for all types of fire trucks.
- Charlotte Fire Department added electric fire trucks for eco-friendly fire stations under its jurisdiction in December 2022. In preparation for its new all-electric firehouse opening in 2024, it has placed orders in bulk with the electric fire truck's supplier, Spartan Emergency Response.
- Rosenbauer Incorporate and Volvo Company united in July 2021 to build a brand-new electric fire vehicle called Revolutionary Technology. They aim to develop the first electric fire truck equipped with proven and adaptable technology from Volvo Penta, Volvo, as well as its client Rosenbauer.
Scope of Market Report
| Attribute | Details |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million or billion for Value and 1,000 Units for Volume |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Rest Of Latin America, Germany, France, United Kingdom., Russia, Italy, Rest of Europe, China, Japan, South Korea, ASEAN. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
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Key segments
By Product:
- Tankers
- Pumpers
- Aerial Platform
- Rescue Fire Trucks
- Other Specialty Trucks
By End-use Sector:
- Residential & Commercial Buildings
- Enterprises & Airports
- Military
- Other End Uses
By Region:
- North America Market
- Latin America Market
- Europe Market
- China Market
- APEC Market
- ROW Market
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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