Fire Truck Market worth $9.6 billion by 2030 _ MarketsandMarkets

1. Fire Truck Market worth $9.6 billion by 2030 | MarketsandMarkets NEWS PROVIDED BY MarketsandMarkets Jul 25, 2024, 10:30 ET  CHICAGO, July 25, 2024 /PRNewswire/ -- Fire Truck Market is estimated to grow from USD 8.1 billion in 2024 to USD 9.6 billion by 2030, at a CAGR of 2.7%, according to a new report by MarketsandMarkets. Rapid urbanization, infrastructural development, safety regulations for ?re safety, technological improvements, and increase in government spending are projected to be the driving force for a ?re truck market. There was a huge demand for the modernization and expansion of capacities in ?re services with a rise in urbanization and new infrastructure projects. Meanwhile, the equipment must be replaced due to the obsolescence forced by the regulatory environment. Better pump, aerial ladders, telematics, among others, have grown to improve new ?re trucks' operational quality and e?ciency. In addition, the growing number of wild?res increases the demand for vehicles with special mechanisms. Growing investment from government and municipal sources continues to provide ?nancial support for modernization and expansion in the ?re truck ?eets to meet the changing demands of ?re services.  MarketsandMarkets Logo Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp? id=69483030

2. Browse in-depth TOC on "Fire Truck Market" 260 - Tables 57 - Figures 269 - Pages Fire Truck Market Scope: Report Coverage Details Market Revenue in 2024 USD 8.1 billion Estimated Value by 2030 USD 9.6 billion Growth Rate Poised to grow at a CAGR of 2.7% Market Size Available for 2019–2030 Forecast Period 2024-2030 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered By Type, by propulsion, by application, and by capacity Geographies Covered Asia Pacific, North America, Europe, and Rest of the World Report Highlights Updated financial information / product portfolio of players Key Market Opportunities Alternate fuels option Key Market Drivers Growing urban areas and infrastructure projects increase the need for more firefighting resources The engine pumper ?re trucks are estimated to be the largest market during the forecast period. The engine pumper truck ?nds its application more in commercial & residential and in military due to their complementary capabilities. The government funding for purchasing the customized and modern ?re?ghting trucks have signi?cantly contribute to this growth. For example, the US Department of Homeland Security's Assistance to Fire?ghters Grant (AFG) program allocates substantial funds annually to help ?re departments acquire new equipment, including pumper ?re trucks. In October 2020, over USD 355 million was awarded to ?re departments across the US through the AFG program, which spoke to the government's commitment to improving ?re response capabilities. At the same time, the National Fire and Rescue Administration in China has invested heavily in ?eet ?re?ghting. An estimated budget of USD 1.5 billion was disbursed in year 2021. This increase in investment is showcases that China is actively investing R&D to raise its capacity for emergency response and to further modernize its ?re?ghting infrastructure. In addition, emerging nations like India have rolled out an aggressive city program for 100 smart cities involving an investment of over USD 30 billion, including huge spending on ?re services modernization. The "National Fire Protection Association (NFPA)" which are based upon named NFPA 1901, states the requirements that shall be complied within their design, equipment, safety features, and performance abilities of a vehicle. These are the regulations that pumper ?re trucks need

3. to ensure appropriate performance for safety throughout the operation, as the disaster response is in emergency cases. Hence, such governmental e?orts with technologies for ensuring ?re safety are driving the rapid growth of the pumper ?re truck market across the world. Electric ?re trucks are projected to be the fastest-growing market during the forecast period. The global ?re truck market, regulatory standards are one of the important factors de?ning product development and market dynamics. Di?erent regions/countries head toward stringent emission regulations with a downward-pressing emission limit. For instance, Europe is moving to Euro VII from Euro VI from July 2025, whereas China has implemented 6b emission standard for light commercial vehicles from July 2023. Also, before 2030, country like China is going to implement China VII emission regulation, due to which, many ?re departments globally are now moving towards electric ?re trucks. For example, in January 2024, The Mesa Fire Department in Arizona (US) have purchased the E-ONE Vector electric ?re truck which can pump 750 gallons per minute for 4 hours on single charge. Besides, Volvo Penta had introduced an electric driveline for Rosenbauer's "Revolutionary Technology" (RT) electric ?re truck with two electric motors of up to 360 kW (490 HP) and 50,000 Nm of torque along with a backup diesel engine. In fact, these emission norms have been put in place in various regions and countries, thereby increasing the demand worldwide for electric ?re trucks. Besides that, big manufacturers like Rosenbauer International AG also depend on this growth in industry electri?cation. According to their investor presentations, penetration of electric ?re trucks may reach as high as 50% in 2030. Across American ?re departments, the use of electric and hybrid ?re equipment is growing in popularity. EV ?re trucks are used by the ?re department in places like Mesa, Madison, Los Angeles, and Portland. One of the newest features of EV ?re trucks is fuel cells as a range extender, which augments the electric motor if the battery runs low. This eliminates the need of ?re truck to run more on battery power and keep the vehicle running continuously. Electric ?re trucks are more expensive initially than traditional diesel trucks. An equivalent diesel ?re truck can cost a lot less than the Rosenbauer RT electric ?re truck, for instance. For ?re departments, this larger initial outlay may be a hurdle. Rosenbauer International AG (CFT (Concept Fire Truck)), RT (Revolutionary Technology), ALPAS (Advanced Low-Pro?le Aerial System), and hybrid variants), Magirus GmbH (Magirus AirCore and Team Cab Electric), IVECO Magirus (Dragon X8 and SuperDragon X6 Electric), E-ONE, a division of the REV Group (Cyclone II Electric and Typhoon II Electric), Volvo Group (FL, FE Electric Fire Truck), and Scania AB (Citywide and P-Series Electric Fire Truck) are major manufacturers of EV ?re trucks.

4. As a result, these producers set the standard for innovation in electric and hybrid ?re engines, meeting operational and environmental requirements in urban ?re?ghting both nationally and internationally. Asia Paci?c region is the second largest region in the ?re truck market. This area has the second largest demand for ?re vehicles since there is a corresponding boost industrialization and urbanization in the Asia-Paci?c region particularly in China, India and Japan. Also, as a result of growth in the sizes of cities and industries in areas classi?ed as megacities as well as expansions in industrial sectors, this growth has given rise to the demand for sophisticated equipment used in ?ghting ?res. The authorities of these countries have allocated large amounts of funds for the purchase of additional and more advanced ?re trucks and for investments in public safety facilities that include ?re departments. Contemporary ?re tender or ?re trucks are being used today more and more when new constructions are being made and implemented with rules about construction and ?re safety measures to make sure that structures meet international requirements. Due to the rise of numbers of the urban city, China occupies the largest market in the Asia Paci?c region mainly growing residential, commercial, and industrial sectors. As a result of these factors, the need for ?re trucks has risen to adequately address the protection from ?re hazards. Additionally, the National Bureau of Statistics report states that as of 2023, 64.7% of China's population lived in urban areas. Additionally, the nation's urban population increased from the previous year to 914 million by the end of 2022. This growth in urban areas has increased the demand for advanced ?re trucks and ?re stations in China. Based on the rate of traveling in the country, china has developed 6 airports as gathered from traveling in the country. In the January 2023 of the Civil Aviation Administration of China report China says that it has completed construction on 6 airports. It had new freight airports, and 29 new general- purpose airports were constructed on the Chinese mainland, bringing the respective totals to 254 freight airports and 399 general-purpose airports by the end of the year. In addition, China had 4,165 freight planes registered at the end of 2022, which has raised by 111 over the year before. As a result of increasing investments in development of airports and the aviation industry, has increased the need of ?re trucks. China also has some major local key manufacturers of ?re truck manufacturers, including Shenyang Jietong Fire Truck Co., Ltd., Hubei Dong Runze Special Vehicle Equipment Co., Ltd., Shanghai Jindun Special Vehicle Equipment Co., Ltd., Beijing Zhongzhuo, XCMG Fire Equipment, Zoomlion, and Chongqing Dima Industry. Because of their cutting-edge technologies and inventive product o?erings, these manufacturers are at the forefront of the industry. China is therefore in need of ?re engines because of these circumstances.

5. Moreover, due to the growing biomedical and logistics sectors, Singapore is the fastest-growing market for ?re trucks. Adding more, Singapore is concentrated with global critical players like GlaxoSmithKline (UK), Novartis (Switzerland), and Roche (Switzerland), which require stringent ?re safety apparatus and ?re stations near their manufacturing and research facilities. Moreover, Singapore is known for their logistics and trade hub, and has some major players named as DHL (Germany), UPS (US), and PSA International (Singapore), necessitates robust ?re protection measures across its extensive port facilities and air cargo terminals. Considering the regulations made by the Singapore government, they have mandated the Smart Nation initiative for ?re trucks from April 2022, which has made compulsory telematics devices that provide real-time monitoring systems, GPS navigation, and automated ?re?ghting systems. Hence, these factors drive the market for ?re trucks in the Asia Paci?c region. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp? id=69483030  Fire Truck Market Dynamics: Drivers: ?. Growing urban areas and infrastructure projects increase the need for more ?re?ghting resources. Restraints: ?. High investment cost in ?re trucks making it less accessible for developing countries Opportunities: ?. Alternate fuels option Challenge: ?. Economies of scale by smaller players Key Market Players Fire Truck Industry:

6. Prominent players in the Fire Truck Market include Rosenbauer International AG (Austria), Oshkosh Corporation (US), Morita Holdings Corporation (Japan), REV Group (US), and IVECO Group NV (Italy). The break-down of primary participants is as mentioned below: By Companies: Fire Truck Manufacturers - 80% and Fire Truck End User – 20% By Designation: Director level - 10%, C-Level Executives - 60%, Others- 30%, By Region: North America - 10%, Europe – 30%, and Asia Paci?c - 25%, Rest of the World – 35% Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=69483030  Fire Truck Industry Recent Developments: In November 2023, Oshkosh Corporation and Pierce Manufacturing came together for a ?ve-year supply contract with Mississauga Fire and Emergency Services (MFES). The ?rst two orders include nine apparatus deals which was featuring a Pierce Volterra electric pumper designated for MFES's new net-zero ?re station. Other devices in the ?rst two orders comprise a Pierce Enforcer heavy-duty rescue pumper, four Enforcer pumpers, a Saber tanker, an Enforcer HAZMAT truck, and an Ascendant® 107-foot heavy-duty aerial ladder on an Enforcer chassis. The NAFFCO had made an investment in Telangana in September 2023 to develop a manufacturing plant for ?re?ghting equipment. This investment was made to cater the increasing demand for ?re?ghting equipment. In March 2023, Scania and Ziegler in collaboration had successfully installed its hybrid system in one of the ARFF vehicle for promoting the zero-emission operations within and around airports. The combined diesel-electric powertrain signi?cantly reduces crash site response times, exceeding strict aviation industry standards and minimizes emissions. Fire Truck Market Size - Key Bene?ts of Buying the Report:

7. The report will help market leaders and new entrants with information on the closest approximations of the ?re truck market's global revenue, ME subsegments, technology analysis, bill of material, eco-system, pricing analysis, trade analysis, and investment & funding. It will also help stakeholders like OEMs, chassis suppliers, and ?re apparatus providers understand the competitive landscape and gain insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities. This report provides insights on: Analysis of critical drivers (Growing urban areas and infrastructure projects increase the need for more ?re?ghting resources; and increase in ?re accidents have raised the focus on safety), restraints (High investment cost in ?re trucks making it less accessible for developing countries), opportunities (alternative fuel option), and challenges (Economies of scale by smaller players) in?uencing the growth of the ?re truck market. Product Development/Innovation: Detailed insights on upcoming technologies and new products launched in the ?re truck market. Market Development: Comprehensive market information – the report analyses the authentication and brand protection market across varied regions. Market Diversi?cation: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the ?re truck market. Competitive Assessment: In-depth assessment of the market shares, growth strategies, and service o?erings of leading players in the ?re truck market, such as Rosenbauer International AG (Austria), Oshkosh Corporation (US), Morita Holdings Corporation (Japan), REV Group (US), and IVECO Group N.V (Italy). Related Reports: Electric Vehicle Market - Global Forecast 2030 Electric Commercial Vehicle Market - Global Forecast to 2030 Electric Truck Market - Global Forecast to 2030 Semi-Autonomous & Autonomous Truck Market - Global Forecast to 2030

8. Get access to the latest updates on Fire Truck Companies and Fire Truck Industry Growth ™ About MarketsandMarkets : ™ MarketsandMarkets has been recognized as one of America's best management consulting ?rms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine o?ering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us pro?cient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting ?rms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to- Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To ?nd out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 ™

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