Fire Fighting Vehicle Market REPORT OVERVIEW
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The global fire fighting vehicle market size was USD 5254.9 million in 2022 and market projected to touch USD 7414.9 million by 2031, at a Compound Annual Growth Rate (CAGR) of 3.9% from 2022 to 2031.
An emergency vehicle that is equipped to put out a fire is called a fire fighting vehicle. It has multiple hoses, hydraulic ladders, and a large enough tank to hold water or other liquids (such as foam) needed to put out fires. 500 gallons of water can be transported in a typical modern vehicle and pumped through a hose to outlets on four floors as well as two turrets with nozzles that can be adjusted up to 100 feet above the ground. Swivel gun couplings on both sides of the body drive ram jet pumps directly behind them as part of the pump system, which delivers high-pressure hot water. It has a wide range of uses and is employed in numerous operations, including search and rescue operations, firefighting operations, and medical emergencies.
By lowering the vegetation density along roads, they can also be used to lessen the effects of wildfires in wild land areas and on transportation routes. Firefighters are more secure during emergencies when they are inside a vehicle. Additionally, there are special fire vehicles and elevating fire vehicles. Aerial ladder platforms can extend up to six stories high, and elevating fire vehicles have hydraulic elevators for added height. Special fire vehicles are made for particular tasks, like containing hazardous materials and fighting fires.
COVID-19 Impact: Financial Imbalance Causes Market Distortion
The COVID-19 outbreak caused problems for manufacturers of automotive including unstable markets, a drop in customer confidence, and difficulties with import and export commerce. The sourcing of raw materials, packaging, and distribution are all parts of the global supply chain. Due to lockdowns, moving commodities, labels, and other items has become difficult. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for equipment. The pandemic altered the dynamics of the industry, compelling organizations to redesign every aspect of their operational frameworks in order to preserve stability amidst the disturbances. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall automotive industry. This has partially impacted the fire fighting vehicle market.
LATEST TRENDS
"New Generation Vehicle to Boost the Market Growth"
One of the major trends anticipated to fuel the growth of the fire vehicle market over the forecast period is the increasing adoption of newer models of fire vehicles. Manufacturers of fire apparatus and companies that offer firefighting services favor modern, compact trucks that are easy to manoeuvre on congested roads. Medical and emergency supplies are also included in modern fire trucks. Important manufacturers are also developing fire vehicle designs specifically suited for urban areas, such as aerial fire vehicles and pumper fire vehicles. The development of the market will be fueled by the introduction of new-generation fire vehicles, which come with cutting-edge safety features and firefighting technologies. Thus, a key trend that is opening up potential for the industry to grow is the demand of conditioning to protect and prevent hair damage. These new developments are mostly to blame for the market's overall growth.
Fire Fighting Vehicle Market SEGMENTATION
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- By Types
Based on type, the market is classified into Conventional Fire Fighting Vehicle, Elevating Fire Fighting Vehicle & Special Fire Fighting Vehicle.
- By Application
Based on the market is categorized into Municipal, Industrial & ARFF.
DRIVING FACTORS
"Technological Advancement that Gives the Market Extra Boost "
The ongoing developments in manufacturing technology are propelling the market for fire vehicles significantly forward. A significant driver of the market's expansion is the automotive industry's recent, audacious moves in a number of developed and emerging economies. The adoption of sophisticated electronics that enhance vehicle functionality has served as a marker for such advancements. The increase in spending by fire departments across various developing and developed countries focused on acquiring new fire vehicles or replacing ageing ones has also resulted in significant gains for the demand for fire vehicles. However, the market is being supported by authorities' growing demand for fire vehicles in a range of other emergency situations. As a result, the growth, and the increasing technological advancement will boost the market. It will contribute to the expansion of the automotive industry and it will improve the overall fire fighting vehicle market growth.
"Industrial Fire & ARFF to Encourage Market Expansion"
Vehicles for aircraft rescue firefighters (ARFF) are a major factor boosting market sales. They are made specifically for use in airports during aircraft emergencies, such as crashes and fires that affect aircraft, when all other available resources would typically be insufficient to stop the spread of fire within an airport environment. The market for fire vehicles as a whole is growing because industrial fire vehicles have heavy-duty water tanks with high-pressure water hoses for fighting industrial fires at chemical processing plants. Large quantities of combustible materials, including turpentine, butane, diesel fuel oils, and others, may be present in industrial fires. Thus, the industrial fire & ARFF will help the market to grow.
RESTRAINING FACTORS
"High Maintenance of Product to Impede Market Expansion"
The high cost of these vehicles is one of the main business issues affecting the revenue from fire vehicles. Fire vehicles are built with premium raw materials and parts to provide high durability under challenging operating conditions. More tools, including ladders, hoses, self-contained breathing apparatus, hydraulic rescue equipment, first aid kits, and ventilating equipment, are also included in the equipment on these vehicles. These extra tools raise the price of buying these vehicles even further. A small number of private sector businesses engaged in the fire rescue industry also constrain the market's demand. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.
Fire Fighting Vehicle Market REGIONAL INSIGHTS
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"North America Dominating the Market Across the Globe"
The market for fire fighting vehicle in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the fire fighting vehicle market share is the growing demand of product in municipal, industrial & ARFF industry is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.
KEY INDUSTRY PLAYERS
"Leading Manufacturers to Boost Product Demand"
Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.
List of Market Players Profiled
- Oshkosh (U.S.)
- Magirus (Germany)
- REV Group (U.S.)
- Ziegler (U.S.)
- Bronto Skylift (U.S.)
REPORT COVERAGE
The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost fire fighting vehicle market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 5254.9 Million in 2022 |
Market Size Value By |
US$ 7414.9 Million by 2031 |
Growth Rate |
CAGR of 3.9% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the fire fighting vehicle market expected to touch by 2031?
Based on our research, the fire fighting vehicle market is projected to touch USD 7414.9 million by 2031.
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What CAGR is the fire fighting vehicle market expected to exhibit by 2031?
The fire fighting vehicle market is expected to exhibit a CAGR of 3.9% by 2031.
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Which are the driving factors of the fire fighting vehicle market?
Technological advancement that gives the market extra boost & industrial fire & ARFF to encourage fire fighting vehicle market expansion.
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What is the restraining factor of the fire fighting vehicle market?
High maintenance of Product to impede fire fighting vehicle market expansion.