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North America Fire Truck Market Size, By Product (Aerial Truck, Pumper, Tanker), By Application (Residential and Commercial, Airport, Military), Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast, 2020 - 2026

Published Date: November 2020 | Publisher: Graphical Research Report ID: GR1524 | Delivery : PDF

North America Fire Truck Market value was over USD 940 million in 2019 and is expected to grow at a CAGR of over 5.5% from 2020 to 2026.
 

North America Fire Truck Market

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The rapid increase in the number of fire incidents is augmenting the demand for fire trucks in North American countries including Canada and the U.S. As per the report published by the National Fire Protection Association (NFPA), the state fire departments in the U.S. responded to 1.3 million fire incidents in 2019. These incidents caused around 16,600 civilian injuries, 3,700 civilian deaths, and USD 14.8 billion property damage. The departments recorded a fire incident every 24 seconds on average in 2019. The growing need to reduce response time in case of fire accidents is propelling the fire truck industry size in North America.

A rapid increase in government expenditure toward technologically advanced trucks will proliferate the fire trucks market. The increasing number of fire incidents is encouraging fire authorities and governments in the region to adopt technologically updated fire trucks. State fire departments are investing in technologically advanced firefighter trucks to enhance efficiency and performance. For instance, in February 2020, the Los Angeles Fire Department (LAFD) procured a new hybrid-electric fire truck from Rosenbauer Group. The fire truck is equipped with several advanced functions including Wi-Fi connected drones and remote vehicle diagnostics.

The spread of the COVID-19 pandemic in North America has severely impacted the fire truck industry. The U.S. and Canadian governments announced movement restrictions and lockdowns from March to May 2020 to mitigate the loss of life due to the pandemic. This has led to the temporary shutdown of the automotive and transportation industries. Raw material procurements have adversely been impacted owing to the restriction on trade activities and movement, affecting the production units of various industry players.

A steady increase in demand from the commercial & residential application segment in the region will generate lucrative growth opportunities for the North America fire truck market. Furthermore, the increasing requirement for progressive safety infrastructure in commercial and residential complexes is expected to augment the market size over the coming years.

The U.S. pumper fire truck market will witness steady growth during the forecast period. The adoption of pumper trucks is improving owing to their ability to pump water from external sources including overhead tanks, wells, and water tankers. Low initial investments required for purchasing pumper trucks compared to their counterparts will fuel the market growth. Manufacturers are majorly focusing on product launches to enhance their revenue and market share. For instance, in April 2019, Spartan, Inc. launched a new pumper truck model, IPS-NXT at the Fire Department Instructors Conference (FDIC) in the U.S. The newly launched truck is equipped with a new platform and technologically updated system that ensures the safety of firemen.

Key players operating in the industry are Spartan, Inc., Rev Group, Inc., Pierce Manufacturing, Inc., and W. S. Darley & Co. These players are focused on technological innovation and the upgrade of the existing systems to gain a competitive edge and increase their market share. For instance, in May 2018, REV Group, Inc. launched its new AXIS Smart Truck Technology. The newly launched truck technology is integrated with Ferrara, KME, and E-ONE vehicles. The technology-enabled the fire department to monitor the condition of the trucks and apparatus.
 

Frequently Asked Question(FAQ) :

The industry share of North America Fire Truck is anticipated to grow at 5.5% CAGR between 2020 and 2026.
The rapid increase in the number of fire incidents is augmenting the demand for fire trucks in North American countries including Canada and the U.S.
Key players operating in the North America fire truck market are Spartan, Inc., Rev Group, Inc., Pierce Manufacturing, Inc., and W. S. Darley & Co.

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North America Fire Truck Market Price, Share & Forecast 2020-2026


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