Fire Trucks Market Outlook Price and Profit Forecast To 2024

Favorable government laws & regulation to employ and promote use of fire trucks for medical
emergency services and rescue operations are expected to stimulate market growth. The recent
technological advancements in the field of fire apparatus and related equipment coupled with
development of novel products such as aerial fire apparatus and fire engine are helping to lower
the fatality rate in fire-related incidents. Development of wild land fire engine and wild land
water tender are expected to widen scope of the fire trucks market over the forecast period.
The fire truck industry is broadly categorized into three major segments based on end-user
application such as residential & commercial segment, enterprises & airports segments, military
segment, and others. The residential & commercial application is considered as one of the
fastest growing segment in the fire truck market with substantial revenue generation in the last
couple of years. Growing demand for fire trucks from residential & commercial segment is
attributed to growing global population and rapid urbanization. In addition, the residential &
commercial application segment saw massive boom, in last few years, majorly in the in
developed economies such as the U.K., France, the U.S. and Canada.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/fire-truck-market-size
Enterprises & airports segment has also witnessed substantial growth, in the recent years, owing
to the rising number of Aircraft Rescue Fire Fighting (ARFF) vehicles to perform airport safety
and rescue operations. Enterprises & airports segment is expected to generate higher revenue
over next seven years, due to the increasing number of airports and air passenger traffic.
The fire trucks industry is divided by region as North America, Europe, Asia-Pacific, Latin America
and Africa. North America has shown major growth in recent years owing to the rise in the
implementation of latest technologies, favorable government regulations, substantial
requirement of advanced safety infrastructure, and existence of well-established industrial
infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the
fire trucks with massive growth in forecast period. Countries such as India, China and Singapore
are leading the Asia-Pacific market with presence of key low-cost manufacturers, rising demand
from commercial & residential sector, high production capacity and supply, and significant
investment by leading industry players considering potential growth opportunities in the region.