Market Size of Fire Truck Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.73 Billion |
| Market Size (2029) | USD 9.37 Billion |
| CAGR (2024 - 2029) | 6.83 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fire Truck Market Analysis
The Fire Truck Market size is estimated at USD 6.73 billion in 2024, and is expected to reach USD 9.37 billion by 2029, growing at a CAGR of 6.83% during the forecast period (2024-2029).
As automotive manufacturers have resumed operations due to steadily rising automobile sales in countries with a limited number of COVID-19 cases, the market is likely to recover during the forecast market. Furthermore, the manufacturers are implementing contingency plans to mitigate future business uncertainties to retain continuity with clients in the critical sectors of the automobile industry.
Over the long term, the adoption of stringent fire safety standards, the renewing of old fleets of fire trucks by the city councils to bolster their fire-fighting capabilities, and increasing investments in R&D by major industry players are creating demand in the automotive and transportation industry with a surge in sales of fire trucks.
Key players in the market are securing new orders, launching new products, and expanding their production capacity to cater to the increased demand for fire trucks. For instance,
- June, 2022 : Rosenbauer Group delivered a fully electric fire truck featuring Rosenbauer RT (Revolutionary Technology) to the municipality of Norvenich in North Westphalia, Germany.
Asia-Pacific has been identified as the world's biggest fire truck market, with China and India being the major markets for fire trucks in the world. This is due to stringent fire protection measures adopted in these countries to reduce fire-related accidents and casualties. Many cities in these countries are inducting new fire trucks in their firefighting fleets, especially firetrucks equipped with turntable ladders to combat fires occurring in high-rise buildings. For instance
- January, 2022: Brihannamumbai Municipal Corporation (BMC) of Mumbai in India, announced plans to procure 36 firefighting including 22 quick response multi-purpose vehicles and 14 firefighting-cum-rescue vehicles for Mumbai Fire Brigade.
Thus the market for fire trucks is forecasted to grow at a healthy CAGR during the forecast period due to the above factors.
