Why Fire Truck Market is growing rapidly? Albert Ziegler, Gimaex, Magirus, Morita Holdings, Oshkosh, Spartan

The global fire truck market forecast is likely to accrue a substantial revenue. As the mileage and call volumes of fire trucks continue to soar across fire departments globally, evaluation and replacement of fire apparatus has been a key area of focus for governments across the world. Although the upfront costs can be high, purchasing a new and technologically advanced fire truck can significantly reduce risks in communities in the long run.

As numerous governments have been investing in new fire brigades and trucks with features such as nighttime visibility. The following seven factors have been functioning as the primary influencers of market forecast:

Frequency of naturally occurring fires in Asia Pacific

Owing to the surging number of outdoor fire accidents across countries such as India and Japan, the demand for fire trucks in the region is expected to expand. Several incidents of naturally occurring fires due to natural calamities such as floods and earthquakes were recorded in the past few years. These situations have been accounting for multiple casualties.

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As the governments in the region have been supporting the mitigation of loss of life and property resulting from such accidents, significant opportunities have been emerging for Asia Pacific fire truck market.

Upcoming airport construction projects in Asia Pacific

The growth in the volume of government expenditure toward the upcoming airport construction projects across Asia Pacific has been pushing the requirement of fire trucks. For instance, the government of India has been initiating the development of the commercial aviation industry for boosting economic growth as well as offering sustainable expansion opportunities to airline companies.

During 2020, for example, the Airports Authority of India or AAI revealed its intention of improving the runway infrastructure across seven different airports throughout the nation by March 2022. To this end, a fund worth $3.58 billion is to be directed for the development of airport facilities and infrastructure over the span of next five years.

Consequently, the deployment of fire trucks is expected to witness an uptick over the next few years across India, China, Malaysia, and Thailand.

Escalating number of fire accidents across factories in India

The Indian fire truck market is expected to emerge as a frontrunner in terms of revenue generated through 2026, triggered by the spiraling number of fire accidents across factories, stone quarries, and manufacturing facilities. For instance, in February 2021, 19 workers lost their lives, while more than 30 others were hospitalized due to a series of explosions at a fireworks factory in Tamil Nadu.

Similarly, during the same month, nearly 24 individuals were injured during a major blast at United Phosphorus Limited plant in the Bharuch district of Gujarat in India.

High demand across commercial & residential sectors in Europe

The Europe market for fire trucks is likely to exhibit considerable growth by 2026, driven by the expanding demand from the commercial and residential sectors in the region. To this end, by 2026, the Europe market share is anticipated to be worth $2 billion.

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The substantial rise in the population in European countries has increased the frequency of fire accidents across commercial enterprises. With numerous commercial and residential construction projects in prospect, the necessity of fire trucks might increase, as numerous government bodies have been imposing strict regulatory norms for almost all industries.

Rising adoption of aerial fire trucks in Europe

The aerial fire truck segment has been registering high demand across the European region on account of the multiple advantages offered by these advanced trucks. An aerial fire truck features extendable booms that enable firemen to have better access to tall buildings during rescue operations.

As numerous governments have been purchasing these trucks across cities and towns for evacuating accident survivors, the Europe fire truck industry share is projected to strengthen.

Growing deployment of hybrid fire trucks in North America

Pushed by the expanding government expenditure toward the rising concerns pertaining to fire accidents, the deployment of highly advanced fire trucks has been spiraling in America. Numerous state fire departments in the U.S. have been investing in fire-fighting equipment that feature latest technologies such as IoT and Wi-Fi connectivity. Hybrid-electric fire trucks are particularly gaining traction.

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For instance, during February 2020, the Los Angeles Fire Department or LAFD announced the procurement of a new hybrid-electric fire truck designed by the Rosenbauer Group. The new truck is integrated with remote vehicle diagnostics and Wi-Fi-operated drones. The introduction of such innovative fire trucks by leading market players has been a prominent enabler of the North America fire truck market outlook.

Government focus on rescue equipment upgradation

The OSHA, or the American Department of Labor and Occupational Safety and Health Act, has laid down the guidelines and rules associated with the technological upgradation of fire rescue equipment in the U.S. This initiative is certain to have a positive bearing on the industry outlook.

W. S. Darley, Rev Group, Inc., Pierce Manufacturing, Spartan, Inc., Albert Ziegler GmbH, Magirus GmbH, BAI Brescia Antincendi, Gimaex GmbH, Beijing Zhongzhuo, Morita Holdings, and Sichuan Chuanxiao are some leading manufacturers of the fire truck market.

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