Specialty Vehicle Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Specialty Vehicle Market is segmented by Type (Ambulances, Fire extinguishing trucks, Mobile fuel carrying tankers and Others), Application (Law Enforcement And Public Safety, Medical And Healthcare, Recreational Vehicles and Other Services) and geography.

Market Snapshot

Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 3.18 %

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Market Overview

The specialty vehicle market was valued at around USD 92.28 billion in 2020, and it is likely to reach USD 113.21 billion by 2026, anticipating a CAGR of 3.18% during the forecast period (2021-2026).

  • The economic growth in the later half of past decade (2010 - 2019) has led to the global diversification and initiation of many businesses and business operations such as mobile clinics, airport terminal expansions, e-commerce transportation, etc. that requires specialty vehicles. From August 2019, Los Angeles Airport started the acquisition for 36 new low floor specialty vehicles trolleys from Specialty Vehicles inc. The trolleys are used as shuttles from baggage claim areas to parking areas. The aforementioned factor ad instances are driving the growth of Specialty Vehicles Market in geographies around the world.
  • Asia-Pacific is anticipated to witness the highest CAGR over the forecast period, followed by Europe and North America. The usage of these vehicles by small businesses in the United States, for purposes, such as food truck businesses, mobile showrooms, and advertising and promotions, along with the demand from medical and healthcare response vehicles, is expected to rise during the forecast period.
  • The food truck market exhibited a growth rate of more than 6% during 2018-19. In United States alone the food truck industry is expected to grow to nearly USD 1 billion compared to nearly USD 850 million in 2015-2016. The market exhibited a similar growth pattern in countries such as India. The growth in food truck industry is expected to propel the market for specialty vehicles globally.

Scope of the Report

The Specialty Vehicles Market Report covers the latest trends and technological developments as well as provides analysis on various aspects of the market such as the vehicle type and application type. The report also covers geography level analysis and the market share of major specialty vehicle manufacturers in the world. The report offers market size and forecasts for Speciality Vehicle Market in value (USD billion) for all the above segments.

Fire extinguishing trucks
Mobile fuel carrying tankers
Law Enforcement And Public Safety
Medical And Healthcare
Recreational Vehicles
Other Services
North America
United States
Rest Of North America
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa

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Key Market Trends

Increase In The Spending On Law Enforcement And Healthcare Facilities

The rise in epidemics and pandemics, road accidents, household and industrial injuries, government sponsored healthcare programs etc. are leading to the market growth for medical and healthcare specialty vehicles. Growth is diseases such as blood cancer which affects a person in United States in every 3 minutes, road accidents, etc. has lead to the growth in demand for blood and this factor is propelling the market growth for bloodmobiles.

The recent epidemics and pandemics such as Ebola and Covid 19 outbreak has led to the increase in demand for ambulances, mobile pharmacies and mobile ICUs. In many countries, the rise in demand for ambulance surpassed the population growth rate. In New Zealand, the mobile operation theatre service started again after COVID 19 lockdown restrictions were lifted. With the rise and development of autonomous technology for vehicles, emergency medical vehicles are expected to be equipped with semi-autonomous driving assistance technology soon.

<The increase in spending from governments worldwide on law enforcement and healthcare facilities is driving the demand for specialty vehicles. For instance, in FY 2019-2020, the United Kingdom spent around GBP 153 billion, with an increase of 2% compared to the previous year. According to the Public Expenditure Statistical Analyses 2019, the government spending on the law enforcement department in the United Kingdom during 2016-2017 was GBP 16.37 billion, which grew at a rate of 3.2%. During 2018-2019, it reached GBP 17.99 billion.


Asia-Pacific To Exhibit The Highest Growth Rate Over The Forecast Period

Asia-Pacific is anticipated to lead the specialty vehicle market. The advancements in technology developments is propelling the growth of specialty vehicles market in the region. Various Chinese companies have delivered ambulances not only to local authorities but also to other countries during the COVID-19 pandemic. For instance,

  • In April 2020, JAC Motors delivered more than 300 ambulances to the Ministry of Health of Kazakhstan in batches.

Medical and healthcare response vehicles is another sector which holds a major share of the market and design and other innovative changes such as electric propulsion, separate patient compartment, negative pressure creation technology, UV disinfection, etc. is expected to propel the market for medical specialty vehicles in near future.

Law enforcement agencies in the United States and Canada are also investing in the development and procurement of new specialty vehicles. The development in armor technology has made it possible for police departments in the region to equip their vehicles with bulletproof armors.

In 2018, Louisville Metro Council Committee purchased a new BearCat armored car equipped with a 1500 gallon per minute water cannon. In January 2020, INKAS Group Of Companies was awarded the Innovation Business Of The Year award CanadianSME National Business Awards for its industry leadership in armored specialty vehicles. The aforementioned factors and instances are significantly driving the growth of market in the region.


Competitive Landscape

The Specialty Vehicles Market is marked by the presence of various vehicles manufacturers and a large number of aftermarket upfitting services providers. Hence, the market is considered as a fragmented one with major players such as Daimler AG, General Motors Company, Oshkosh Corporation,Volvo Group, REV Group, etc. dominating the market. The market is witnessing a lot of collaborations in form of acquisitions, joint ventures and investments in electric and autonomous driving technology.

  • In February 2020, Rev Group completed the acquisition of Spartan Emergency Response. Spartan Emergency Response and its brands, Spartan Fire Apparatus and Chassis, Smeal Fire Apparatus, Ladder Tower (LCT), and UST, may soon become part of REV’s Fire & Emergency (F&E) segment.
  • In 2018, Tata Motors formed a joint venture called JT Special Vehicles Private Limited (JTSV) with Jayem Automotives Private Limited for the development of special performance vehicles based on Tata Motors vehicles. JTSV, under the brand JTP, is working towards the performance and appearance enhancement of Tata Motors products
  • In October 2019, Lonestar Speciality Vehicles collaborated with Dana Incorporated to launch the completely electric terminal tractor. The Spicer Electrified e-Powertrain System is designed and produced by Dana to be used by Lonestar Speciality Vehicles as a fully electrified powertrain solution.

Recent Developments

In December 2019, Pierce Manufacturing Inc., a subsidiary of Oshkosh Corporation company, partnered with Fotokite to provide situational awareness systems to firefighters and first responders. These vehicle-integrated situational awareness products will be available solely through Pierce’s dealer network.

Emergency One introduced the World’s Tallest Articulating Turntable Ladder appliances to its fleet – the ground-breaking Magirus M42 L-AS. The E-1 Magirus M42 L-AS has a working height of 42 meters, and benefits from a best-in-class 5-meter-long articulating top ladder section.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Type

      1. 5.1.1 Ambulances

      2. 5.1.2 Fire extinguishing trucks

      3. 5.1.3 Mobile fuel carrying tankers

      4. 5.1.4 Others

    2. 5.2 Application

      1. 5.2.1 Law Enforcement And Public Safety

      2. 5.2.2 Medical And Healthcare

      3. 5.2.3 Recreational Vehicles

      4. 5.2.4 Other Services

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Rest Of North America

      2. 5.3.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. India

        2. China

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. South America

        2. Middle-East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 LDV Inc.

      2. 6.2.2 Force Motors Limited

      3. 6.2.3 Matthews Specialty Vehicles Inc.

      4. 6.2.4 Specialty Vehicles Inc.

      5. 6.2.5 Farber Specialty Vehicles

      6. 6.2.6 REV Group

      7. 6.2.7 Daimler AG

      8. 6.2.8 Volvo Group

      9. 6.2.9 General Motors Company

      10. 6.2.10 Spartan Motors Inc. (Shyft Group)

      11. 6.2.11 Emergency One Group

      12. 6.2.12 Oshkosh Corporation


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Frequently Asked Questions

The Specialty Vehicle Market market is studied from 2018 - 2026.

The Specialty Vehicle Market is growing at a CAGR of 3.18% over the next 5 years.

The Specialty Vehicle Market is valued at 92 Billion USD in 2018.

The Specialty Vehicle Market is valued at 113 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Daimler AG, Volvo Group, General Motors Company, REV Group, Oshkosh Corporation are the major companies operating in Specialty Vehicle Market.

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