Fire Trucks Market: Asia Pacific Holds The Largest Market Share In Terms Of Revenue Followed By North America
Albany, NY -- (SBWIRE) -- 05/13/2019 -- Fire trucks, also called fire apparatus or fire engines, are vehicles essentially designed for being used in firefighting operations world over. They are also additionally used by fire departments in a variety of rescue operations and medical emergency services in various parts of the globe. There can be a vast range of tools fire trucks carry depending on the purposes, nature of the operating terrain, and size of the authorities supervising firefighting and rescue operations. However, essential tools used by firefighters include ladders, hydraulic rescue tools, self-contained breathing apparatus, ventilating equipment, and first aid kits.
The global market for fire trucks has seen continual advancement in the firefighting technologies, especially with regard to communication equipment and warning system. These advancements are all focused on improving the reliability, safety, and efficiency of firefighting operations. Recent advances in the mobility technologies have built on their functionality as well as versatility. There is growing popularity of special-purpose vehicles, especially in developing and developed economies.
The report presents critical assessment of various trends and factors shaping the growth trajectory over 2017–2025. It offers evidence-based insights into untapped opportunities and imminent investment pockets, thereby helping policy makers and end users to gain an in-depth and clear understanding of the market.
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Global Fire Trucks Market: Trends and Opportunities
The global fire trucks market is witnessing substantial forward thrust from the constant advances made in manufacturing technologies. In addition, the recent bold strides taken by the automotive industry in several emerging and developed economies is a key factor catalyzing the growth of the market. Such advances have been punctuated by the adoption of advanced electronics that improves vehicles functionality. The demand for fire trucks has also garnered large gains from the rise in the spending by fire departments in various developing and developed countries focused on getting new fire trucks or removing aging ones.
The growing number of fire hazards and the rising incidence of wildfire in forests in various parts of the world is favoring the growth of the market. However, the global replacement rate of aging fleet of fire trucks is relatively low, which has dampened the demand to an extent.
Nevertheless, the rising demand for fire trucks by authorities in a variety of other emergency situations is boosting the market. Furthermore, a growing number of local authorities in rural areas in developed regions are purchasing fire trucks. This augurs well for the expansion of the fire trucks market.
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Global Fire Trucks Market: Regional Outlook
The study presents attractive insights into the attractiveness of various regional markets and the trends driving their growth. On the regional front, North America and Europe are expected to rise at a moderate pace, attributed to their saturated nature. On the other hand, developing regions such as Asia Pacific are expected to emerge at a rapid pace and will contribute substantial revenues to the global market. The high production capacity of fire trucks in the region, notably China, is fueling the growth of the Asia Pacific market. Through the forecast period, market players are expected to witness lucrative opportunities in various economies of the Middle East and Africa attributed to the notably rising demand from firefighting departments.
Companies mentioned in the report
The study offers a detailed profiling of various top players, highlights their recent offering, and takes a closer look at their recent strategic moves. Acquisition is one of the key strategies adopted by a growing number of players to consolidate their presence in the global fire trucks market. Some of the prominent names in the fire trucks market include W. S. Darley & Co., Boise Mobile Equipment, Alexis Fire Equipment Co., ZoomLion, Bronto Skylift, Xuzhou Handler Special Vehicle Co. Ltd., Spartan Motors, Danko Emergency Equipment Co., Magirus GmbH, Rosenbauer International AG, and Oshkosh Corporation.