Fire Truck Market: Global Industry to Reach USD 8.4 Billion By 2026

According to the Facts and Factors, Research Report, the global fire truck market in 2019 was approximately USD 5.5 billion. The market is expected to grow at a CAGR of 6.3% and is anticipated to reach around USD 8.4 billion by 2026.

Fire trucks are also called as fire engines or fire apparatus and are used for the firefighting operations throughout the world. Fire departments and emergency medical services also use these fore trucks for rescue operations throughout the globe. Some of the essential tools carried by the fire trucks are ventilating equipment, ladders, breathing apparatus, rescue tools, and first aid kits.

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The growing global infrastructure in the growing economies has led to the implementation of the fire trucks by regulatory bodies as a standard practice and to enforce strict codes to avoid the infrastructural loss. This is anticipated to boost the global fire truck market in the upcoming years. There is an increasing demand for technologically advanced fire trucks with the latest digital tools and advanced electronics to increase the quality, efficiency, and capability of the fire truck. However, the aging taskforce replacement rate of fire trucks is comparatively slow and hence has decreased the demand for the fire trucks to some extent. Nevertheless, there is an increasing trend in the procurement of fire trucks from the rural and underdeveloped regions which will create new opportunities for the fire truck market in the forecast period.

The residential & commercial sub-segment in the application segmentation was the largest segment in 2019 and is anticipated to grow with a CAGR of 6.7% in the forecast period. The increasing global population has led to a growth in the infrastructure and construction projects in the residential and commercial sectors such as residential buildings, airports, offices, and industries. The government has set stringent regulations for fire safety in these sectors which is expected to boost the global fire truck market. Airports are actively investing in the Aircraft Rescue Fire Fighting (ARFF) vehicles for the safety of airport and rescue operations. The growing number of airports globally due to an increase in tourism is anticipated to drive the rescue truck segment in the forecast period.

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Asia Pacific region dominated the fire truck market in 2019 due to developing countries such as India, South Korea, and China. These countries are developing their infrastructure at a significant rate along with the adoption of standard fire safety norms. Low-cost manufacturers from China are boosting the Asia Pacific fire truck market. China has high production capacity and supply along with significant low-cost manufacturing. North America fire truck market is primarily driven by the residential and commercial sectors. The European fire trucks are compact and narrow in design as compared to the trucks in the U.S. This is due to the presence of narrow lanes in European cities as compared to the U.S.

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Some of the key players operating in the global fire truck market are Oshkosh Corporation, Magirus GmbH (CNH Industrial Group), Gimaex GmbH, E-ONE, Spartan Motors, Inc., Zoomlion, Emergency One, Inc., Xuzhou Handler Special Vehicle Co. Ltd., W.S. Darley & Co., Albert Ziegler GmbH, Rosenbauer International AG, Morita Holdings Corporation, HME Incorporated, Bronto Skylift Oy, Weihai Guangtai, Alexis Fire Equipment Co., and Danko Emergency Equipment, Co.

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