The Global Fire Trucks Market Size was valued nearly USD 4.30 billion in 2015 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 7.1% during the forecast period, i.e. 2017-2025.
Global Fire Trucks Market Growth Opportunities (Revenue, Growth) By 2017-2025
Fire trucks, also called fire apparatus or fire engines, are vehicles imperative designed for being used in firefighting operations world over. It is used in fire departments in a variety of rescue operations and medical emergency services .There can be an extensive range of tools fire trucks carry depending on the purposes, nature of the operating terrain, and size of the authorities supervising firefighting and rescue operations. Essential tools used by firefighters such as ladders, hydraulic rescue tools, self-contained breathing apparatus, ventilating equipment, and first aid kits. These advancements are all focused on revamp the reliability, safety, and efficiency of firefighting operations. Recent approach in the mobility technologies have built on their applicative as well as adaptable. There is growing popularity of special-purpose vehicles, especially in developing and developed economies.
This global market analysis offers in-depth insights, revenue details, and other vital information regarding the global fire trucks market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global fire trucks market report has been segmented on the basis of type, application, and region.
The global fire truck market is projected to expand a CAGR of 7.1% for the period between 2018 and 2025. Increasing incidences of forest fires across the globe will especially accelerate the demand for fire trucks during upcoming period. In terms of production the global fire trucks industry volume was over 16,000 units in 2011. In 2015 the global fire trucks market size was valued at USD 4.50 billion. Increasing demand for fire safety among developed countries and need for advance firefighting apparatus is projected to drive the market growth at greater extent. Increasing standards with respect to safety across the globe is anticipated to increase the demand over the forecast timeline. The departments need to keep upgrading their equipment and apparatus due to the constant technological advancement in the automotive sector. As a result, constant modification is made to the recommendation and regulations execute by the associations including National Fire Protection Association (NFPA) in the U.S. and others.
The commercial and residential application accounted for the largest market share and is projected to grow over the upcoming time period on account growing global population, which led to the demand for construction of residential and commercial buildings. Growing demand for upgraded advanced fire apparatus in developed countries including the UK, U.S. and other developed economies is anticipated to be one of the major factors for growth in North America and Europe regions.
There is high demand of fire apparatus and safety equipment in enterprises and airport due to this increasing application of Aircraft Rescue Fire Fighting Vehicles for airport safety and rescue operations. Enterprises & airports segment accounted for over 30% of the total share in terms of volume. However, the application segment is anticipated to gain share over the expected period due to the increasing number of airports and air passenger traffic.
In 2015 the Asia Pacific region is dominated globally, and is anticipated to continue its supremacy throughout the forecast period. The presence of key low-cost manufacturers of China and the increasing demand from residential & commercial application segments in developing economies such as China, South Korea, and India are among the major key factors accelerating this trend, globally. Europe, Middle East & Africa market is growing primarily by the increasing application scope in industrial sectors. China is one of the major markets, in terms of both production as well as consumption. The high production capacity and supply are increasing by the greatly low costs of production. The low material costs and labour costs are two considerations driving manufacturers towards higher production and supply of fire trucks. Due to this there is high market growth in the upcoming timeline which will accelerate the market at greater extent.
Global Fire Trucks Market Size, Share Analysis By Region 2017
The North American production value observed a significant growth during the period from 2011 to 2015, primarily driven by the growing demand from the residential & commercial application segment. This growth in demand was a result of the growing requirement of advanced safety infrastructure in residential buildings, commercial complexes and is anticipated to grow continuously in upcoming timeline. As a result, the demand for fire trucks in the region is expected to grow significantly over the forecast period.
Major key players of this industries such as Rosenbauer International AG, Oshkosh Corporation, Magirus GmbH and Weihai Guangtai have adopted product innovations and numerous strategic alliances for strengthening their global positions, which are being followed by emerging industry players.
Other industry participants include Danko Emergency Equipment, Co., E One Inc., Spartan Motors, Xuzhou Handler Special Vehicle Co. Ltd., ZoomLion, Bronto Skylift Oy, Morita Group, Boise Mobil Equipment, Inc., Alexis Fire Equipment Co., W. S. Darley & Co., KME, Albert Ziegler GmbH and Gimaex International.
Global Fire Trucks Market Study Report Offer You!
The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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