The global fire trucks market is projected to reach USD 7.41
billion by 2024, according to a new report by Grand View Research, Inc. Growing
demand for fire trucks owing to rising penetration in application segments,
including residential & commercial, enterprises & airports, and
military, is expected to drive market growth over the forecast period.
Growing infrastructure in the
developing countries including India, China, South Korea coupled with
increasing awareness regarding fire safety is expected to drive the demand for
fire trucks over the next eight years. The demand in enterprises and airports
for fire apparatus and increasing governmental regulations towards ensuring
fire safety compliance is expected to be a contributing factor for market
growth across the globe.
The market consists of raw material
suppliers, manufacturers, distribution channels, and end user applications. The
companies including Alexis Fire Equipment Co. and Xuzhou Handler Special
Vehicle Co. Ltd. procure raw materials such as chassis and metal sheets
required for manufacturing of fire trucks from the local suppliers, as it saves
transportation costs. However, few companies including Gimaex International and
Albert Ziegler GmbH purchase trucks instead of chassis from established truck
manufacturers such as MAN and Scania, install the components and fire
equipment, and sell them to the fire departments.
Browse full research report on Fire Trucks Market: https://www.grandviewresearch.com/industry-analysis/fire-trucks-market
Further key findings from the report suggest:
- Residential & commercial application accounted for over
40% of the overall fire trucks market. Growing global population and
resultant surge in building & construction activities have led the
government to enforce stringent fire safety regulations across all
sectors. This resulted in a significant increase in demand for fire trucks
and is expected to drive market growth significantly over the forecast
period.
- China demand for fire truck was valued at over USD 650
million in 2015. High production capacity coupled with inexpensive labor
are expected to be the driving forces for rising demand and supply for
fire trucks in the country.In addition, growing application in
manufacturing sector and residential sector is expected to aid market
growth in China.
- North America accounted for a large share of the market, and
is expected to witness significant growth, growing at over 6% over the
forecast period. Large number of fire stations and stringent regulations
regarding fire safety are expected to be the key factors for market growth
in the region.
- The market in Europe, Middle East & Africa (EMEA) is
expected to grow at a CAGR of over 5%. Product innovation, coupled with
technological advancements in the industry, is expected to be the drivers
of the EMEA market. However, high import prices are expected to restrain
fire trucks market growth in Middle East & Africa.
- Key players in the industry include Rosenbauer International
AG, Oshkosh Corporation and Magirus GmbH. Auxiliary Power Unit is an
idle-reduction technology designed by Rosenbauer International AG,
specifically for use on fire apparatus; this is expected to save operating
costs of endusers by a huge margin.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/fire-trucks-market/request/rs1
Grand View Research has segmented the fire trucks market on the
basis of application and region:
Fire Trucks Application Outlook (Volume, Units; Revenue, USD
Million, 2011 - 2024)
- Residential
& Commercial
- Enterprises
& Airports
- Military
- Others
Fire Trucks Regional Outlook (Volume, Units; Revenue, USD Million,
2011 - 2024)
- China
- North
America
- Europe,
Middle East & Africa (EMEA)
- Asia
Pacific
- Rest
of the World
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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