Fire Truck Market To Witness Substantial Growth Over 2021-2026
The fire truck market is poised to record substantial gains owing to growing need for quick response to fire accidents in military, residential, commercial and airport locations. Increase in cases of property damage and loss of life due to fire accidents could trigger the demand for fire trucks. However, with the current COVID-19 pandemic, government authorities have been allocating additional funds for treating affected patients, which is leaving behind a limited supply of funds to the local fire departments for the purchase of new fire trucks.
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The number of fire accidents and mishaps in commercial, industrial and residential sectors is on a rise, which could propel the global demand for advanced firefighting trucks and equipment. Driven by growing demand, fire truck manufacturers are investing in R&D to develop new variants of fire trucks. For example, in 2018, leading fire truck maker, Morita Holdings Corporation announced the exhibition of advanced fire trucks, fire extinguishers and fire extinguishing equipment created with cutting-edge technology that will be useful in different types of disasters.
In terms of product, the tanker fire truck segment is projected to observe significant growth over the coming years. This is attributed to the ability of these tankers to store and transport large volumes of water. Growing use of such tanker fire trucks to transport water in large quantities to regions that have a scarcity of fire hydrants and external water resources is positively impelling their demand in the market.
On the regional front, the increasing adoption of fire trucks across commercial spaces and airports is projected to drive Asia Pacific fire truck market trends. Airport authorities across economies like China, Japan, and India are investing heavily towards the adoption of new fire trucks to decrease response time required during fire accidents. Taking April 2018 for instance, the Airport Authority of India made a new investment in Rosenbauer Panther 6x6 truck with an aim to increase Bangalore airport’s fire safety.
Speaking of market players, recently, the fire truck market has been witnessing increasing instances of partnerships and collaborations wherein companies are teaming up with other firms to offer enhanced services. Under such collaborations companies are also focusing on launching new fire truck models that incorporate additional features. This emerging trend is expected to be a notable factor that would influence product adoption decisions in the market, thereby shaping the overall industry outlook.
The competitive landscape of the fire truck market is inclusive of players such as W. S. Darley & Co., Rosenbauer International AG, Spartan, Inc., Rev Group, Inc., Morita Holdings Corporation, Pierce Manufacturing, Inc. (Oshkosh), Gimaex GmbH, and BAI Brescia Antincendi International SRL among others.
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Partial Chapter of the Table of Content
Chapter 4. Competitive Landscape, 2019
4.1. Introduction
4.2. Company market share analysis, 2019
4.3. Key player analysis
Chapter 5. Fire Truck Market, By Product (Revenue & Shipment)
5.1. Key trends by product
5.2. Aerial truck
5.2.1. Fire truck market estimates and forecast, 2016 – 2026
5.3. Pumper
5.3.1. Market estimates and forecast, 2016 – 2026
5.4. Tanker
5.4.1. Market estimates and forecast, 2016 – 2026
5.5. Others
5.5.1. Market estimates and forecast, 2016 – 2026
Chapter 6. Fire Truck Market, By Application (Revenue & Shipment)
6.1. Key trends by application
6.2. Residential & commercial
6.2.1. Market estimates and forecast, 2016 - 2026
6.3. Airport
6.3.1. Market estimates and forecast, 2016 – 2026
6.4. Military
6.4.1. Fire truck market estimates and forecast, 2016 - 2026
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