At a CAGR of 5% Fire Truck Market Expected to Reach $9.9 billion by 2032 | AMR
By propulsion type, the electric segment is anticipated to exhibit significant growth in the near future.
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- The growth of the global ๐ ๐ข๐ซ๐ ๐๐ซ๐ฎ๐๐ค ๐๐๐ซ๐ค๐๐ญ is driven by factors such as stringent fire safety regulations, electrification of fire trucks, and the rise in replacement of aging fire truck fleets. However, regulatory compliance and safety standards, and high initial investment hamper the growth of the market. On the contrary, the surge in the integration of advanced safety features, and technological advancements are expected to offer remunerative opportunities for the expansion of the fire truck market during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A06276
The global fire truck market size was valued at $6.2 billion in 2022, and is projected to reach $9.9 billion by 2032, growing at a CAGR of 5% from 2023 to 2032.
The rise in the awareness of environmental sustainability and the need to reduce carbon emissions have driven the demand for electric and hybrid fire trucks in Europe. Moreover, there is a surge in the development of the electric vehicle market in the firefighting sector. For instance, in October 2020, Rosenbauer, a manufacturer of fire-service vehicles and Volvo, a Swedish multinational manufacturer of luxury vehicles partnered to develop an innovative electric fire truck that offers zero-emission firefighting capabilities. The electric fire truck aims to address sustainability concerns and reduce environmental impact by eliminating tailpipe emissions associated with traditional diesel-powered fire trucks. Such developments highlight the potential for electrification in specialized vehicle segments and promote the adoption of sustainable solutions in the fire truck industry.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
๐๐๐ ๐ข๐ซ๐ฎ๐ฌ, ๐๐จ๐ฌ๐๐ง๐๐๐ฎ๐๐ซ ๐๐ง๐ญ๐๐ซ๐ง๐๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐, ๐๐๐ ๐๐ซ๐จ๐ฎ๐ฉ, ๐๐ฌ๐ก๐ค๐จ๐ฌ๐ก ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ข๐จ๐ง, ๐๐จ๐จ๐ฆ๐ฅ๐ข๐จ๐ง ๐๐๐๐ฏ๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ข๐๐ง๐๐ &๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ ๐๐จ., ๐๐ญ๐., ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐, ๐๐๐๐ง๐ข๐, ๐๐ฅ๐๐๐ซ๐ญ ๐๐ข๐๐ ๐ฅ๐๐ซ ๐๐ฆ๐๐, ๐๐๐ ๐ ๐๐, ๐๐ฅ๐๐ฑ๐ข๐ฌ ๐ ๐ข๐ซ๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฉ๐๐ง๐ฒ
Based on the application, the residential and commercial segment held the highest market share in 2022, accounting for nearly half of the global fire truck market revenue, and is estimated to maintain its leadership status throughout the forecast period as there is a surge in the manufacturers provide a wide range of residential fire trucks such as tanker firetrucks, and others to meet the specific needs of firefighting operations. However, the military segment is projected to manifest the highest CAGR of 8.0% from 2023 to 2032, owing to a rise in the number of contracts between the manufacturers and the defense sector to design, build and supply firefighting vehicles to meet these specific military requirements.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/099e3a02ea959ebb40782091761392c1
According to the National Fire Protection Association (NFPA), a pumper fire truck is defined as a fire apparatus that includes a permanently installed fire pump with a capacity of at least 750 gallons per minute (3000 liters per minute). It is equipped with a water tank, hose body, and storage compartments for firefighting equipment. The primary purpose of a pumper fire truck is to combat structural fires and associated emergencies. The NFPA also specifies that pumper fire trucks must have a minimum of 40 cubic feet of enclosed weather-resistant compartmentation, which adheres to NFPA requirements. Pumper fire trucks exhibit versatility and are capable of being utilized in a range of firefighting situations, encompassing structural fires, vehicle fires, and brush fires.
Based on type, the pumper segment held the highest market share in 2022, accounting for more than two-fifths of the global fire truck market revenue, and is estimated to maintain its leadership status throughout the forecast period, as fire departments adopt electric pumper trucks to focus on sustainability and reducing their carbon footprint. However, the tanker segment is projected to manifest the highest CAGR of 7.6% from 2023 to 2032, owing to the rise in the demand for tanker fire trucks to support firefighting efforts by providing a substantial amount of water to extinguish the flames or support other firefighting apparatus.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the fire truck market revenue, and is likely to dominate the market during the forecast period, as the manufacturers in the region aim to create partnerships and other strategies for the development of new and innovative fire truck solutions. However, the LAMEA region is expected to witness the fastest CAGR of 7.3% from 2023 to 2032, owing to a rise in the demand for customized fire trucks that cater to the specific requirements of the oil & gas, and military sector.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A06276
Typically, these trucks are staffed with a team of firefighters responsible for operating the pump, deploying hoses, and executing other essential firefighting duties. Fire departments are increasingly focused on sustainability and reducing their carbon footprint, which has led to a growing interest in electric fire trucks. For instance, in October 2022, Pierce Manufacturing, a fire and rescue apparatus manufacturer entered into a contract with Gilbert Fire and Rescue Department in Arizona. The contract was secured for the procurement of the Volterra electric pumper, which is a specialized fire truck developed by Pierce Manufacturing. The Volterra electric pumper is designed as a custom fire truck with an electric powertrain, aiming to provide a more environmentally friendly solution for firefighting operations. Therefore, such increased interest in electric pumper fire trucks is expected to drive market demand and facilitate the advancement and wider adoption of sustainable firefighting technologies.
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By type, the tanker segment is anticipated to exhibit significant growth in the near future.
By application, the military segment is anticipated to exhibit significant growth in the near future.
By propulsion type, the electric segment is anticipated to exhibit significant growth in the near future.
By region, LAMEA is anticipated to register the highest CAGR during the forecast period.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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David Correa
Allied Market Research
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