Fire Truck Market Revenues to Reach USD 8.77 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
Hyderabad, July 19, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Fire Truck Market Report (2023-2028),” the market is estimated at USD 6.30 billion in 2023. It is expected to register a CAGR of 6.83% during the forecast period.As automotive manufacturers have restarted operations with steadily rising automobile sales in countries, the fire truck market is likely to surge during the forecast market. In the long run, the adoption of strict fire safety standards, the revitalizing of old fleets of fire trucks by the city councils to bolster their fire-fighting capabilities, and growing investments in R&D by major industry players are expected to create demand in the automotive and transportation industry with a boost in sales of fire trucks.
* **Report Summary:*
*Report Attribute* *Details*
Market Size (2023) USD 6.30 billion
Market Size (2028) USD 8.77 billion
CAGR (2023-2028) 6.83%
Study Period 2018-2028
Forecast Units Value (USD billion)
Fastest-growing Market Asia-Pacific
Largest Market Asia-Pacific
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers The adoption of strict fire safety standards.
Rising demand for fire trucks in the residential and commercial sectors.
*Who are the Top Companies in the Fire Truck Market?*The global fire truck manufacturers market is highly consolidated. It is characterized by the presence of large international players as well as some local players who have acquired long-term supply contracts with fire departments of local city councils.
The noteworthy players in the global fire truck market are:
· W.S. Darley & Co.
· Oshkosh Corporation
· WeihaiGuangtai
· Albert Ziegler GmbH
· Magirus GmbH (CNH Industrial Group)
· Rosenbauer International AG
· Gimaex GmbH
· Morita Holdings Corporation
· E-ONE
· Spartan Motors Inc.
· HME Incorporated
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*Key Highlights from the **Fire Truck Market** Report**:*
* Rising Demand for Fire Trucks in the Residential and Commercial Sectors *
· According to the National Fire Protection Association, there have been over 400,000 house fire cases reported in the United States yearly. The scenarios remain the same globally.
· Moreover, several wildfire fire incidents are being reported worldwide, which destroyed the lives and properties of people.
* APAC to Dominate the Market *
· The fire truck market is expected to be dominated by Asia-Pacific, followed by North America and Europe. The incidence of key low-cost manufacturers in China, along with the rising demand for residential and commercial applications in emerging economies of the region, is expected to drive the market.
· China is the largest Asian market for fire trucks. It established trade barriers in the wake of economic conflict with the United States, which tended to mount the overall cost and vehicle imports. Severe business constraints and developing economic and political conflicts have resulted in the restraint of the development of international manufacturers while shielding the revenue bars of China-based companies.
*What are the Latest Developments in the **Fire Truck **Market**?** *
· In June 2022, Rosenbauer International AG revealed its new electric fleet for municipal firefighting trucks consisting of RT, AT Electric, L32A-XS Electric, and GW-L Electric.
· In April 2022, E-ONE launched its new portfolio, comprising the first North American-style fully electric fire truck, at Fire Department Instructors Conference in Indianapolis, Indiana, United States.
*Mordor Intelligence has Segmented the **Fire Truck **Market **Based on Type, Application, and Geography:*· By Type
· Rescue Trucks
· Tanker
· Pumper
· Multi-Tasking Trucks
· By Application
· Residential and Commercial
· Enterprises and Airports
· Military
· By Geography
· North America
· United States
· Canada
· Mexico
· Rest of North America
· Europe
· United Kingdom
· Spain
· Germany
· France
· Italy
· Russia
· Rest of Europe
· Asia-Pacific
· China
· India
· Japan
· Australia
· Rest of Asia-Pacific
· South America
· Brazil
· Argentina
· Rest of South America
· Middle East & Africa
· Saudi Arabia
· South Africa
· Rest of Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Fire Truck Market Report (2023-2028).
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*About Mordor Intelligence:*
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
*Attachment*
· Fire Truck Manufacturers Market - Mordor Intelligence
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