PUBLISHER: The Business Research Company | PRODUCT CODE: 1426326
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426326
The primary purpose of a fire truck is to transport firefighters and carry essential firefighting equipment. Fire trucks are equipped with features such as a water tank, pump, and hoses, enabling them to extinguish fires effectively and assist in rescue operations.
The two main types of fire trucks are aerial ladder trucks and aerial platform trucks. Aerial ladder trucks are equipped with a power-operated ladder, typically mounted on a specialized truck chassis. These trucks can be powered by either an internal combustion engine (ICE) or electric propulsion. Fire trucks find applications in various settings, including residential and commercial areas, airports, enterprises, military operations, and others.
The fire truck market research report is one of a series of new reports from The Business Research Company that provides fire truck market statistics, including fire truck industry global market size, regional shares, competitors with a fire truck market share, detailed fire truck market segments, market trends and opportunities, and any further data you may need to thrive in the fire truck industry. This fire truck market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fire truck market size has grown strongly in recent years. It will grow from $6.89 billion in 2023 to $7.3 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The historic growth of the fire truck industry can be attributed to several factors, including the expansion of urban areas and infrastructure, the implementation of strict fire safety regulations, the growth of industrialization and manufacturing, the increased population density with the construction of high-rise buildings, and a focus on preparedness for natural disasters.
The fire truck market size is expected to see steady growth in the next few years. It will grow to $8.84 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The forecasted growth in the fire truck industry can be attributed to various factors, including the implementation of smart city initiatives, heightened awareness of environmental concerns and wildfire risks, upgrades in emergency response infrastructure, and the ongoing renewal and modernization cycles. Additionally, major trends in the forecast period include the adoption of alternative propulsion systems, advanced telematics for efficient fleet management, a focus on remote control and autonomous capabilities, and the integration of unmanned aerial vehicles (UAVs), with customization tailored for both urban and rural environments.
The fire truck market is anticipated to experience substantial growth due to an upsurge in fire hazards and emergencies. Fire hazards encompass any conditions or events capable of starting a fire or heightening the risk of one. Simultaneously, fire emergencies denote situations posing threats to life, causing severe injuries or property loss. Firefighters rely on firefighting instruments such as hoses and nozzles mounted on fire trucks to combat these hazards by directing firefighting agents, such as water, towards them. For instance, statistics from the National Interagency Coordination Center in September 2023 revealed a 12.4% increase in reported wildlife fires in Washington and Texas, rising from 44,263 in 2021 to 49,753 in 2022. Additionally, data from the National Fire Protection Association in October 2022 illustrated a surge in the US, with 1,353,500 fire emergencies and 3,800 civilian deaths in 2021, an 8.5% increase from 2020's 3,500 deaths. This escalating number of fire hazards and emergencies is a driving force behind the fire truck market's growth.
The fire truck market is set to be significantly boosted by the surge in infrastructure development. Infrastructure development encompasses various projects spanning residential, commercial, industrial, and public facilities, along with transportation networks and utilities. As urban areas expand and populations increase, the risk of fires and emergencies amplifies. This elevates the need for fire trucks and emergency response capabilities to safeguard lives and property. Notably, the World Bank reported a substantial rise in private sector infrastructure commitments, reaching $91.7 billion for 263 projects in April 2023, marking a 23% increase compared to 2021. Hence, the upswing in infrastructure development stands as a significant catalyst driving the fire truck market's growth trajectory.
The fire truck market faces a challenge stemming from high initial costs and substantial capital requirements in manufacturing, potentially limiting its growth during the forecast period. These elevated upfront expenses create barriers for new entrants and smaller companies, acting as a restraining factor. For example, as noted by Storable in September 2022, the pricing of ladder fire trucks can vary based on factors such as size and additional features, significantly influencing overall costs. Consequently, the high initial costs and capital demands present obstacles hindering the fire truck market's expansion.
Leading companies in the fire truck market are dedicated to introducing innovative products, such as hybrid systems, aimed at delivering dependable customer service. Hybrid vehicle systems combine an internal combustion engine (ICE) with an electric motor and battery, utilizing ICE for high-speed driving and the electric motor for low-speed propulsion and acceleration. For instance, in June 2022, Scania AB, a Sweden-based commercial vehicle manufacturer, launched a hybrid solution for airport fire trucks (ARFF). This groundbreaking system boasts a 16-liter, up to 770hp combustion engine paired with a 380hp E-machine, facilitating faster response times and environmentally conscious operations. The turn-key Scania solution encompasses the battery, E-machine, combustion engine, and associated components, enabling the vehicles to operate in hybrid or zero-emission modes. Collaborative functioning of the E-machine and combustion engine grants the vehicle a remarkable 1150 horsepower, ensuring rapid acceleration from 0 to 80 km/h and swift arrival at crash sites, surpassing the performance of standard vehicles.
In June 2022, Oshkosh Corporation, a prominent US-based manufacturer specializing in fire and emergency vehicles, completed the acquisition of Maxi-Metal Inc. for an undisclosed sum. This strategic acquisition aims to bolster the synergies between Pierce and Maxi-Metal, fostering improved collaboration and bolstering sales and distribution capabilities within Pierce's extensive North American network. Oshkosh foresees substantial benefits from leveraging Maxi-Metal's specialized expertise and forward-thinking approach, particularly in expanding their collective presence across the Canadian market. Maxi-Metal Inc. is recognized as a Canada-based manufacturer renowned for crafting custom fire trucks and utility vehicles.
Major companies operating in the fire truck market report are Volvo Group, Tata Motors Limited, Isuzu Motors Ltd., Scania AB, Dongfeng Motor Corporation, Hino Motors Ltd., Oshkosh Corporation, Zoomlion Heavy Industry Science &Technology Co. Ltd., Naffco Group, REV Group, Rosenbauer International AG, Pierce Manufacturing Inc., Morita Holdings Corporation, W.S. Darley & Co., E-One Inc., Albert Ziegler GmbH, HME Incorporated, Magirus GmbH, Ferrara Fire Apparatus Inc., Bronto Skylift Oy Ab, Spartan Motors Inc., Sutphen Corporation, KME Corp., Gimaex GmbH, Alexis Fire Equipment Company, Crimson Fire Protection Inc., Angloco Limited, Acres Emergency Vehicles, Metz Aerials GmbH, Smeal Fire Appratus
Europe was the largest region in the fire truck market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fire truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the fire truck market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The fire truck market consists of sales of fire engine, rescue or special operations truck, and command vehicle. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fire Truck Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fire truck market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fire truck? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fire truck market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.