SAN FRANCISCO, February 28, 2017 /PRNewswire/ --
The global fire trucks market is projected to
reach USD 7.41 billion by 2024,
according to a new report by Grand View Research, Inc. Growing
demand for fire trucks owing to rising penetration in application
segments, including residential & commercial, enterprises &
airports, and military, is expected to drive market growth over the
forecast period.
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Growing infrastructure in the developing countries including
India, China, South
Korea coupled with increasing awareness regarding fire
safety is expected to drive the demand for fire trucks over the
next eight years. The demand in enterprises and airports for fire
apparatus and increasing governmental regulations towards ensuring
fire safety compliance is expected to be a contributing factor for
market growth across the globe.
The market consists of raw material suppliers, manufacturers,
distribution channels, and end user applications. The companies
including Alexis Fire Equipment Co. and Xuzhou Handler Special
Vehicle Co. Ltd. procure raw materials such as chassis and metal
sheets required for manufacturing of fire trucks from the local
suppliers, as it saves transportation costs. However, few companies
including Gimaex International and Albert Ziegler GmbH purchase
trucks instead of chassis from established truck manufacturers such
as MAN and Scania, install the components and fire equipment, and
sell them to the fire departments.
Browse full research report with TOC on "Fire
Trucks Market Analysis By Application (Residential &
Commercial, Enterprises & Airports, Military), By Region
(North America, China, Europe, Middle
East & Africa,
Asia Pacific, Rest of World), And
Segment Forecasts, 2011 - 2024" at:
http://www.grandviewresearch.com/industry-analysis/fire-trucks-market
Further key findings from the report suggest:
- Residential & commercial application accounted for over 40%
of the overall fire trucks market. Growing global population and
resultant surge in building & construction activities have led
the government to enforce stringent fire safety regulations across
all sectors. This resulted in a significant increase in demand for
fire trucks and is expected to drive market growth significantly
over the forecast period.
- China demand for fire truck
was valued at over USD 650 million in
2015. High production capacity coupled with inexpensive labor are
expected to be the driving forces for rising demand and supply for
fire trucks in the country. In addition, growing application in
manufacturing sector and residential sector is expected to aid
market growth in China.
- North America accounted for a
large share of the market, and is expected to witness significant
growth, growing at over 6% over the forecast period. Large number
of fire stations and stringent regulations regarding fire safety
are expected to be the key factors for market growth in the
region.
- The market in Europe,
Middle East & Africa (EMEA) is expected to grow at a CAGR of
over 5%. Product innovation, coupled with technological
advancements in the industry, is expected to be the drivers of the
EMEA market. However, high import prices are expected to restrain
fire trucks market growth in Middle
East & Africa.
- Key players in the industry include Rosenbauer International
AG, Oshkosh Corporation and Magirus GmbH. Auxiliary Power Unit is
an idle-reduction technology designed by Rosenbauer International
AG, specifically for use on fire apparatus; this is expected to
save operating costs of endusers by a huge margin.
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Grand View Research has segmented the fire trucks market on
the basis of application and region:
- Fire Trucks Application Outlook (Volume, Units; Revenue, USD
Million, 2011 - 2024)
- Residential & Commercial
- Enterprises & Airports
- Military
- Others
- Fire Trucks Regional Outlook (Volume, Units; Revenue, USD
Million, 2011 - 2024)
- China
- North America
- Europe, Middle East & Africa (EMEA)
- Asia Pacific
- Rest of the World
Read Our Blog:
http://www.grandviewresearch.com/blogs/technology
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company
provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant
and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: http://www.grandviewresearch.com
SOURCE Grand View Research, Inc.