The global fire trucks market is segmented into type such as tankers, pumpers, aerial platforms, rescue fire trucks and other specialty trucks. Among these segments, pumpers segment is expected to grab major market share in global fire trucks market. Since water is the primary agent used to fight fires, vehicles equipped with pumps are very common in the fire service. These pumpers are one of the most essential fire trucks in whole fire truck fleet. Further, pumpers are being adopted by public firefighting departments and other places such as airports and industries.
Global fire trucks market is expected to register a notable CAGR over the forecast period. Moreover, the global fire trucks market expected to reach at notable revenue by the end of 2027. The market is expected to expand on the back of wide increasing incidence of fire and rapid infrastructural development across the globe.
The Asia Pacific is likely to grow at maximum pace during the forecast period. Swelled expenditure by government on fire prevention and fire fighting in countries such as India and China are expected to increase the demand for fire trucks in this region over the forecast period. Asia countries are going through infrastructural transformations which involve development of new airports and industries. This infrastructural development in countries such as India and China is expected to play the role of major driver for the growth of Asia Pacific fire truck market over the forecast period.
Rapid Infrastructural Development
In the developing world, with the rise in industrialization, and urbanization across all regions of world, the demand for fire trucks is expected to rise in upcoming years. Growing use of fire trucks in airports, industries and other places is expected to increase the demand for fire trucks over the forecast period.
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Swelled Government Expenditure
The demand for fire trucks is increasing rapidly. Further, governments are strengthening their fire arm fleet to respond more effectively in case of fire accidents. Governments are increasing their spending on public safety which also involves fire prevention and fore fighting. This factor is predicted to bolster the growth of market in upcoming years. Further, occurrence of fire accidents such as wild fire, chemical fire and others are also fuelling the demand for fire trucks across the globe.
However, high cost of fire trucks is likely to inhibit the growth of the fire trucks market in the near future. Apart from this, these fire trucks have long life span, thus the demand for new trucks are low. This low replacement rate of fire trucks is expected to act as a restraint in global market of fire trucks.
The report titled “Global Fire Trucks Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Fire Trucks market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Fire Trucks market which includes company profiling of Sutphen , Pierce Manufacturing, Inc., SPARTAN , REV Group, Alexis Fire Equipment Company, Midwest Fire, Seagrave Fire Apparatus, LLC , BOISE MOBILE EQUIPMENT INC , Fouts Bros Fire Equipment and Toyne, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Fire Trucks market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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