Oshkosh

Mar 21, 2023

Fire Trucks Market: Segmentation Analysis The global fire trucks market is sectored product type, application, and region. In terms of product type, The fire trucks market around the world can be broken down into several distinct categories, including aerial platforms, pumpers, tankers, rescue fire engines, and other speciality trucks. It would appear that the segment for rescue fire trucks, which was responsible for a significant portion of the market in 2022, is going to be the one to dominate the segmental surge during the predicted timespan. It's possible that the segmented increase is due to the fact that rescue operations now use fire trucks that are outfitted with ground ladders, Hurst tools, rescue ropes, specialized saws, and harnesses. Based on the application, The fire trucks market can be segmented into the military, wild land, enterprise and airports, and residential and commercial subsectors. Furthermore, the residential and commercial segment, which accounted for the highest share of the global industry in 2022, is set to register the highest CAGR of more than 6.8% during the forecast period. This is because the segment is expected to account for the highest share of the global market in the coming years. The expansion of the market over the course of the period covered by the analysis may be attributable to an increase in the total number of people living in the world as well as an increase in the number of residential and commercial buildings built around the globe. The strict enforcement of legislation relating to fire safety in residential and commercial sectors will result in an increase in demand for fire vehicles in these sectors. The global Fire Trucks market is segmented as follows: By Product Type Key Insights from Primary Research: According to the analysis shared by our research forecaster, the Fire Trucks market is likely to expand at a CAGR of around 6.7% during the forecast period (2023-2030). In terms of revenue, the Fire Trucks market size was valued at around US$ 11.1 billion in 2022 and is projected to reach US$ 31.2 billion by 2030. The global market is anticipated to record massive growth over the forecast period owing to rising safety concerns and the introduction of new disaster management policies Based on product type, the rescue fire trucks segment to account for the major share of the global market over the forecast timeline In terms of application, the residential & commercial segment is predicted to account for a major share of the global market during the analysis timeframe. Region-wise, the Asia-Pacific fire trucks market is projected to contribute majorly towards the global market share over the assessment period. Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/fire-trucks-market Key questions answered in this report: What is the market size and growth rate forecast for Fire Trucks industry? What are the main driving factors propelling the Fire Trucks Market forward? What are the leading companies in the Fire Trucks Industry? What segments does the Fire Trucks Market cover? How can I receive a free copy of the Fire Trucks Market sample report and company profiles? Key Offerings: Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities Market Segmentation – A detailed analysis By Product Types, by Application, and by Geography Competitive Landscape – Top Key Vendors and Other Prominent Vendors Request for Customization on this Report as per your requirements - https://www.zionmarketresearch.com/custom/1678 (We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.) Regional Analysis on Fire Trucks Market: In 2022, the Asia-Pacific region was responsible for about 40 percent of the total market share for fire trucks, and it is anticipated that it would continue to dominate its regional market in the years to come. It's possible that the existence of low-cost product manufacturers in nations like China will be a driving force behind the expansion of the regional market in the years to come. In addition to this, the expanding use of products in both residential and commercial settings in countries such as India, China, and South Korea will multiply the size of the regional market. In addition to this, China is the world's leader in the production of fire vehicles and the consumption of fire trucks. Its manufacture and delivery of fire trucks are affected by the low costs of production and raw materials, as well as by the robust and cost-efficient operations of its supply chain. Also, it is expected that the fire truck business in North America will grow a lot during the time period covered by the projections. It is possible that the growth of the regional market from 2023 to 2030 will be driven by the growing demand for products in residential and commercial spaces in the subcontinent. Also, new fire safety equipment would be needed in countries like the United States, which would increase the demand in the region. It is anticipated that a high level of product penetration in the military and defense sectors will have an effect on the expansion of markets in both the Middle East and Africa, as well as Europe. In addition to this, there has been an increase in the number of instances of short circuits in these regions, which has led to an increase in the number of fire outbreaks, which will further contribute to the growth of the regional market in the coming years. By Region Recent Developments In August 2021, EV Fire Group launched an all-electric E-one vector fire truck. The new product is likely to increase the cost-savings and efficacy of fire extinguishing & rescue operations. The move will make notable contributions towards the growth of the global fire trucks market in the next decade. In June 2021, Oshkosh Corporation, a key U.S.-based firm that manufactures specialty trucks, defense vehicles, and airport fire equipment, unleashed Volterra™ platform of electric automotive with the launching of two new fire trucks in fire & emergency segment under Oshkosh Airport and Pierce Manufacturing Product brands. Earlier, Pierce Manufacturing had launched Pierce® Volterra pumper, a zero-emission pumper. Moreover, it first electric fire truck to be in service in North America as it is in service with Fire Department of Wisconsin in Madison city in the U.S. Such initiative will enlarge the scope of the demand and growth of the fire trucks market in North America. In the first half of 2022, Brihannamumbai Municipal Corporation in India drafted plans for procuring nearly 36 firefighting vehicles that comprised 22 quick response firefighting trucks that can perform multi-purpose operations & 14 firefighting rescue trucks for Mumba Fire Brigade. The strategic initiative is likely to scale up the growth of the fire trucks market in India and across the Asia-Pacific region. To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/fire-trucks-market Fire Trucks Market: Opportunities Rise in government investments for manufacturing fire trucks fleet to create new growth opportunities for the global market Increase in budget allocation by various governments for producing fire & safety equipment along with huge investments in research activities pertaining to developing of advanced fire safety equipment will open new vistas of growth for the global fire trucks market. Use of new technologies, digital tools, and modern electronic devices in fire trucks will help the fire trucks market explore new facets of growth in the years to come. FREQUENTLY ASKED QUESTIONS What will be the value of the global fire trucks market during 2023-2030? What will be the CAGR value of the global fire trucks market during 2023-2030? Which region will record the highest growth in the fire trucks industry globally? Which are the major players leveraging the global fire trucks market growth? 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