Global Fire Trucks Market 2019-2023 | Development of Electric Fire Trucks to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 7, 2019--
The global fire trucks market size is expected to post a CAGR of about 4% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global fire trucks market 2019-2023. (Graphic: Business Wire)
The growing adoption of new-generation fire trucks is one of the key factors expected to trigger the fire trucks market growth during the forecast period. Fire truck manufacturers and firefighting service providers prefer new-generation, small-sized trucks that can maneuver easily through narrow roads. Modern fire trucks are also equipped with medical and emergency equipment. In addition, key manufacturers are also creating purpose-built fire truck designs such as the aerial fire trucks and pumper fire trucks, suitable for urban areas. New-generation fire trucks are equipped with advanced safety equipment and firefighting technologies, which will fuel market growth during the forecast period.
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As per Technavio, the development of electric fire trucks will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Fire Trucks Market: Development of Electric Fire Trucks
The growing impact of global warming on climate change is compelling governments across the globe to take corrective actions by reducing emissions. Countries across the globe are implementing stringent regulations on emissions from industries and vehicles. This has led to original equipment manufacturers on the development of zero or low-emission vehicles including the electric vehicles (EVs). Government bodies are promoting the development of EVs by offering attractive subsidies and implementing supportive policies to establish EV infrastructure. These developments will support the electrification of fire trucks during the forecast period.
“Factors such as the automation in field of firefighting, investment in smart cities, and the availability of fire truck leasing services are expected to boost market growth during the forecast period, ” says a senior analyst at Technavio.
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Fire Trucks Market: Segmentation Analysis
This market research report segments the fire trucks market by Type (Pumper/tanker, Aerial vehicle, and Others) and Geography (North America, Europe, APAC, MEA, and South America).
North America led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. Governments are investing in the purchase of new firefighting equipment to enhance the safety of residents, leading to the growth of the market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 11/07/2019 05:30 AM/DISC: 11/07/2019 05:31 AM