Fire Truck Market Growth Analysis | 2023-2028

Market Insights

The fire truck market was estimated at USD 4.3 billion in 2022 and is likely to grow at a CAGR of 5.2% during 2023-2028 to reach USD 5.87 billion in 2028.

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Market Dynamics

Introduction

A fire truck, or fire engine, is a specialized vehicle primarily used by firefighters for extinguishing fires and conducting rescue operations. These vehicles are equipped with essential firefighting equipment, including hoses, water pumps, and water tanks to deliver water or firefighting foam to the scene of a fire. They also feature ladders, hydraulic tools, and other equipment for rescue and emergency response.

Fire trucks come in various types, such as pumper trucks with water and pumping capabilities, aerial ladder trucks with extendable ladders for reaching high places, and specialized units for handling hazardous materials or technical rescues. These vehicles play a critical role in safeguarding communities by providing firefighters with the tools and resources needed to combat fires and respond to various emergencies.

Market Drivers

The emerging market trend of integrating advanced technologies such as telematics and artificial intelligence in fire trucks. Integration of advanced equipment like thermal imaging cameras and compressed air foam systems enhances fire truck capabilities and the growing number of fire incidents and mishaps globally are some of the major factors driving the fire truck market growth during the forecast period.

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Segment Analysis

By Product Type

The fire truck market is segmented into aerial trucks, pumper, tankers, and others. The pumper segment accounted for the major share of the market. Pumper trucks can pump water from external water sources, such as water tankers, wells, and overhead tanks, and are also of low cost as compared to other advanced fire truck models, fueling their adoption and product demand during the forecast period.

By Application Type

The market is segmented as residential & commercial, airport, and military. The residential & commercial application type is expected to hold the major share of the market during the forecast period owing to the growing incidence of fire accidents, thus increasing demand for fire trucks in the residential & commercial areas, accelerating the market growth.

Regional Insights

In terms of regions, North America is estimated to account for the major share of the market during the forecast period owing to an increase in government investments in fire trucks with enhanced technologies and a growing number of fatal fire accidents in the region. Factors such as growing awareness of upgrading fire truck fleets with the latest models having multifunctional equipment to increase their efficiency and shifting inclination of local fire departments towards enhancing their operating efficiency are further expected to accelerate the regional market growth over the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.  

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Key Players

Some of the key players in the market are:

• Albert Ziegler GmbH
• BAI Brescia Antincendi International SRL
• Gimaex GmbH
• Magirus GmbH
• Morita Holdings Corporation
• Rev Group, Inc.
• Rosenbauer International AG
• Sichuan Chuanxiao Fire Trucks Manufacturing Co., Ltd.
• Spartan, Inc.
• W. S. Darley & Co

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s fire truck market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our fire truck market report from the industry stakeholders, we have tried to further accentuate our research scope to the fire truck market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The fire truck market is segmented into the following categories:

By Product Type

• Aerial Truck
• Pumper
• Tanker
• Others

By Application Type

• Residential & Commercial
• Airport
• Military

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.