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Asia Pacific Fire Truck Market Size By Application (Residential and Commercial, Airport, Military), By Product (Aerial Truck, Pumper, Tanker), Industry Analysis Report, Regional Outlook (China, India, Japan and South Korea), Growth Potential, Competitive Market Share & Forecast, 2020-2026

Published Date: December 2020 | Publisher: Graphical Research Report ID: GR1564 | Delivery : PDF

Asia Pacific Fire Truck Market value was estimated to be around USD 1.7 billion in 2019 and is expected to grow at a CAGR of over 4.5% from 2020 to 2026.
 

Asia Pacific Fire Truck Market

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Increasing awareness toward fire safety in Asia Pacific countries coupled with the growing demand for advanced firefighting equipment is expected to proliferate the fire trucks market. Increasing population in countries including India, Japan, and China has led to a significant rise in fire accidents and casualties in residential and commercial spaces. In order to provide fire safety and reduce the damage caused during fire incidents, the demand for fire trucks will accelerate in the region.

The APAC market will witness a sluggish growth owing to the emergence of COVID-19 pandemic. The origin of the virus in China led to a nation-wide lockdown in the country during December 2019 and May 2020. This impacted the manufacturing and supply of fire trucks in the country. China is one of the leading providers of raw materials to the global market, however, with unprecedented disruptions in the supply chain, the export of raw materials has suffered a major setback, further impacting the global fire trucks market. The unavailability of raw materials and skilled labor has also hampered the business growth of the fire trucks industry in Japan and India. However, the market will proliferate with economic revival and reduction in the impact of virus in the region by 2021.

The fire truck market is expected to generate lucrative growth opportunities in the Asia Pacific region owing to the establishment of stringent safety standards and protocols by government authorities. Stringent regulations related to the deployment of fire trucks in public spaces including railway stations, airports, and commercial shopping complexes are contributing to the growing demand for fire trucks in the region. For instance, in 2018, the Airport Authority of India deployed a new fire truck by Rosenbauer at the Bangalore airport to enhance safety of passengers and staff.

The residential and commercial segment is anticipated to witness a steady growth in the demand for fire trucks owing to the increasing use of gas stove, grills, and ovens for outdoor recreational activities. The covid-19 pandemic and strict lockdown measures in many countries including China and India encouraged people to participate in outdoor cooking and grilling activities. These activities have contributed to an increase in the number of fire incidents in the residential sector. These factors will accelerate the industry size of fire trucks in the region.

Key players in the Asia Pacific market are Beijing Zhongzhuo Fire Fighting Equipment Co., Ltd., Morita Holdings Corporation, and Sichuan Chuanxiao Fire-Fighting Vehicle Co., Ltd. The companies are focused on new product launches in order to cater to the growing demand from local fire departments. For instance, in May 2018, Morita Holdings introduced Miracle Light CD-I fire fighting vehicle. The pumper fire truck is designed to fit the under Gross Vehicle Weight (GVW) of 3.5 tons. This aided the company to enhance its product line and gain a competitive edge in the market.
 

Frequently Asked Question(FAQ) :

The market size of Asia Pacific Fire Truck was valued over USD 1.7 billion in 2019.
The industry share of Asia Pacific Fire Truck is projected to witness 4.5% growth rate during 2020 to 2026.
Key players in the Asia Pacific market are Beijing Zhongzhuo Fire Fighting Equipment Co., Ltd., Morita Holdings Corporation, and Sichuan Chuanxiao Fire-Fighting Vehicle Co., Ltd.

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Asia Pacific Fire Truck Market Share by Industry Statistics - 2026


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