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Fire Trucks Market Share & Size | Industry Forecast, 2023-2030

The global fire trucks market size was evaluated at $11.1 Billion in 2022 and is slated to hit $31.2 Billion by the end of 2030 with a CAGR of nearly 6.7% between 2023 and 2030.

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➤ Enhancing the global market’s development over the 2023-2030 period by increasing the penetration of the product in residential and commercial spaces

The global fire truck market will experience growth due to the significant rise in fire-related accidents and the growing safety concerns. The global market will be stimulated by the implementation of new disaster management policies and the escalating safety concerns. In the coming years, the demand for fire vehicles will be significantly increased by a significant increase in residential and commercial construction activities. The global market trends will be stimulated by the increased allocation of funds by key industry participants for the production of advanced fire truck fleets. The global market will be expanded by the increased production capacity of firms to manufacture more fleet vehicles in order to meet the increasing demand for products and the development of new products.

➤ The global industry’s advance is being halted by the demand for high fund allocation and the necessity of consistent product maintenance.

The expansion of the global fire vehicle industry will be impeded by the substantial capital requirements and associated initial costs associated with fire truck production. In addition, the global industry’s expansion will be further impeded in the coming years by the implementation of fire safety equipment in buildings and the utilization of IoT technology. The fire vehicle industry may encounter substantial challenges in expanding due to its substantial maintenance expenses.

➤ Increased government investments in the production of fire vehicle fleets to generate new growth opportunities for the global market

New avenues of growth for the global fire truck market will be unlocked by the substantial investments in research activities and the increase in budget allocation by various governments for the production of fire and safety equipment. The fire truck market will be able to investigate new facets of growth in the years ahead as a result of the integration of modern electronic devices, digital tools, and new technologies.

➤ Issues with intercoolers in engines that result in engine heating are a significant challenge for the global industry.

The expansion of the global fire truck industry has been significantly impeded by heating issues in engines and issues related to intercoolers in these fire vehicles in recent years. The global fire vehicle industry may face the most significant challenge in its expansion due to the shortage of fire trucks in both developed and emerging economies, as well as the necessity of replacing aging fleets with new ones.

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The Global Fire Trucks Market is segmented based on product, application and region

Global Fire Trucks Market: Product Segment Analysis

● Pumpers
● Rescue Fire Trucks
● Aerial Platforms
● Tankers
● Other

Global Fire Trucks Market: Application Segment Analysis

● Military
● Enterprise & Airports
● Wild Land
● Residential & Commercial

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The global Fire Trucks market profiles key players such as:

● Precision Fire Apparatus
● Pierce Manufacturing
● Oshkosh Corporation
● ZoomLion
● Steele Fire Apparatus
● Danko Emergency Equipment Co.
● Albert Ziegler GmbH
● E-One Inc.
● Rosenbauer International AG
● Spartan Motors
● Morita Group
● BME Fire Trucks
● Xuzhou Handler Special Vehicle Co. Ltd.
● Keystone Fire Apparatus Inc.
● Seagrave Fire Apparatus Inc.

???? Recent Developments:

• An all-electric E-one vector fire apparatus was introduced by EV Fire Group in August 2021. The cost-savings and efficacy of fire extinguishing and rescue operations are anticipated to be enhanced by the new product. The action will significantly contribute to the expansion of the global fire truck market over the next decade.

• Oshkosh Corporation, a significant U.S.-based company that produces specialty trucks, defense vehicles, and airport fire equipment, introduced the Volterra™ platform of electric automotive in June 2021. The company launched two new fire trucks in the fire & emergency segment under the Oshkosh Airport and Pierce Manufacturing Product brands. Pierce Manufacturing had previously introduced the Pierce® Volterra pumper, a zero-emission pumper.

➤ The market for fire vehicles in the Asia-Pacific region is expected to experience a significant expansion between 2023 and 2030.

The Asia-Pacific region is expected to maintain its regional market dominance in the years ahead, as it contributed nearly 40% of the overall fire vehicle market share in 2022. The presence of low-cost product manufacturers in countries such as China may contribute to the growth of the regional market in the future years. Furthermore, the regional market size will expand as a result of the increasing product penetration in the residential and commercial sectors of countries such as China, India, and South Korea. Furthermore, China is the world’s largest producer and consumer of fire vehicles. The production and supply of fire trucks are affected by the low costs of basic materials and production, as well as the strong and cost-efficient activities of the supply chain.

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