Fire Truck Market 2024 is Expected to Experience Significant Growth By 2032

The growth of the global 𝐅𝐢𝐫𝐞 𝐓𝐫𝐮𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 is driven by factors such as the growth in stringent fire safety regulations, the electrification of fire trucks, and the rise in the replacement of aging fire truck fleets. 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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A06276

The rise in the awareness of environmental sustainability and the need to reduce carbon emissions have driven the demand for electric and hybrid fire trucks in Europe. Moreover, there is a surge in the development of the electric vehicle market in the firefighting sector. For instance, in October 2020, Rosenbauer, a manufacturer of fire-service vehicles and Volvo, a Swedish multinational manufacturer of luxury vehicles partnered to develop an innovative electric fire truck that offers zero-emission firefighting capabilities. The electric fire truck aims to address sustainability concerns and reduce environmental impact by eliminating tailpipe emissions associated with traditional diesel-powered fire trucks. Such developments highlight the potential for electrification in specialized vehicle segments and promote the adoption of sustainable solutions in the fire truck industry.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

NAFFCO, Scania, Alexis Fire Equipment Company, Zoomlion Heavy Industry Science &Technology Co., Ltd., REV Group, Oshkosh Corporation, MORITA HOLDINGS CORPORATION, Rosenbauer International AG, Magirus, Albert Ziegler GmbH

Prime determinants of growth

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.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A06276

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.

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.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/122e2e140f11c00b65f3d9cf973cc680

On the basis of type, the global fire truck market is segmented into aerial, pumper, rescue, tanker, and others. Aerial fire trucks, alternatively referred to as aerial ladder trucks or aerial ladder platforms, are purpose-built firefighting vehicles utilized to extinguish fires in tall buildings or challenging-to-reach locations where conventional firefighting equipment may not suffice. These trucks are equipped with a retractable ladder or platform, usually positioned at the rear of the vehicle, which can be elevated to grant access to upper floors of structures or reach elevated areas.

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.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By type, the tanker segment is anticipated to exhibit significant growth in the near future.

By application, the military segment is anticipated to exhibit significant growth in the near future.

By propulsion type, the electric segment is anticipated to exhibit significant growth in the near future.

By region, LAMEA is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Taxi Market - https://www.alliedmarketresearch.com/taxi-market-A10565

Minibus Market - https://www.alliedmarketresearch.com/mini-bus-market-A12258

Two-Wheeler Market - https://www.alliedmarketresearch.com/two-wheeler-market-A11379

Electric Ships Market - https://www.alliedmarketresearch.com/electric-ships-market-A09173

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