The global fire truck market is anticipated to grow at a considerable CAGR of 7.3% during the forecast period. One of the key factors that are fueling the market includes the increasing demand for fire safety across the globe. The emergence of exclusive and new product innovation, electronics, and utilization of modern technology surface the mode for enhancing safety structure, which in turn is pushing the growth of the market. The adoption of new tech and swapping the aged fire truck is also contributing to the market. For instance, in April 2022, As per the finance director of the US, Ashley Puetz, the 10-year charter will put a figure of a projected $124,39 per year on the city, whereas Great Falls Fire Rescue was planning to utilize $494,335 from federal Community Development Block Grant (CDBG) funds for procuring an engine pumper truck from Spokane.

Segmental Outlook 

The global fire truck market is segmented based on type and application. Based on the type, the market is segmented into rescue trucks, tankers, pumper, and multi-tasking trucks. Based on the application, the market is sub-segmented into residential and commercial, enterprises and airports, and the military. The above-mentioned segments can be customized as per the requirements. Based on application, the residential and commercial segment is anticipated to grow significantly in the market owing to the high number of fire incidents in the segment while based on type, the pumper segment is anticipated to grow significantly during the forecast period owing to the ability of pumper to pump water via external sources of water. 

The Residential and Commercial Segment is Anticipated to Grow Significantly Over the Forecast Period

Based on application, the residential and commercial segment is anticipated to grow significantly in the market during the forecast owing to the high number of fire incidents in the segment which also includes forest and municipal bodies fire fighting applications. For instance, in 2020, as per the National Fire Protection Association of the US, a fire department takes action against a fire every 23 seconds on average. A household fire death occurred every 3 hours and 24 minutes, a household fire had been reported every 89 seconds, and a home fire injury occurred every 46 minutes. Similar situations have been observed across the globe. In several residential and commercial reported fire events across the globe, the fire event destroys the property and lives of the people. For instance, in May 2021, the Indian government inspected numerous fire cases situated in Delhi and observed that most fire events arrived owing to illegal housing factories in the city, and lack of safety gear in commercial establishments continued as a vital factor, which derived fire cases in Delhi.

Regional Outlooks

The global fire truck market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. The prominent share of the fire truck market is expected to hold by the Asia-Pacific, followed by North America and Europe, during the forecast period. 

Global Fire Truck Market Growth, by Region 2022-2028

The Asia-Pacific Region Anticipated to Hold a Prominent Share in the Global Fire Truck Market

Based on region, the Asia-Pacific region is anticipated to hold a prominent share in the market during the forecast period, owing to the presence of key, affordable, producers in China, coupled with the increasing demand from commercial and residential applications in emerging economies such as South Korea, China, India, and others. China is considered the prominent market for fire trucks in the region. The country had presented trade barriers in the wake of economic conflict with the US, which tends to grow the overall price and the imports of the vehicle which has been subjected the approval by the ministry of finance. However, India has also observed a key rise in the demand for fire trucks over the past few years owing to the high industrialization activities occurring across the country. Moreover, with rising urbanization, further demand is anticipated to grow in the market. For instance, in March 2021, Ashok Leyland, revealed the new Fire Truck for 2021, manufactured via the collaboration with Laxmi Steel Industries. The truck was equipped with the capacity of a fire pump 2250 LPM at 7 KG-Cm2 with a water tank capacity of nearly 5000 liters and an additional 500 liters of foam tank.

Market Players Outlook

The major companies serving the global fire truck market include Magirus GmbH, Morita Group, Pierce Manufacturing Inc., REV Group, Inc., Rosenbauer International AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, Albert Ziegler GmbH launched 2 vehicles that are armed on the roof with a hydraulic reducible lifting device. The lifting device comprises of Scaling ladder, Extension ladder, 4 x suction hoses A, Chimney, Fireman‘s hooks, sweeper linkage, and Rescue board.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global fire truck market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.