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North America Fire Truck Market Valuation to Reach $1 bn by 2026
Published Date: 2020-11-24
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According to the Graphical Research new growth forecast report titled North America Fire Truck Market size is set to be over USD 1 billion by 2026. Increasing demand for fire safety in commercial & industrial areas is driving the fire truck market growth. The risk of fire accidents is increasing owing to the presence of inflammable materials in warehouses and factories. Fire trucks’ ability to minimize the loss of property & life and its extinguishing capability are augmenting the regional demand for fire trucks, propelling the market size growth.
Infrastructural developments in the North American countries including the U.S. and Canada have directed the governments and regulatory bodies to impose stringent regulations & standards to reduce damage and loss of property & life. These are also is expected to contribute to the demand for fire trucks in the region, thus proliferating the industry size growth.
The rapid spread of the COVID-19 pandemic in the U.S. and Canada has impacted the fire truck industry growth in North America. Countries are facing a steady decline in economic pointers including employment rate and GDP. The automotive industry is adversely impacted owing to the shortage of raw materials, thus hampering manufacturing units in the region. The pandemic has also impacted international trade activities. The unavailability of labor and declining market demand in several economies owing to lockdowns are impacting production processes.
Government regulations on rescue equipment and fire trucks will contribute to the fire truck market growth by 2026. Regulations and guidelines established by the U.S. Department of Labor and Occupational Safety and Health Act (OSHA) to upgrade fire trucks with technologically updated equipment will further drive the market.
The rapid adoption of airport applications in Canada is expected to fuel the demand for fire trucks in the country. The increasing procurement of firefighting equipment for emergency services including evacuation and rescue of passengers during aircraft accidents will generate lucrative growth opportunities for the Canada fire truck market.
Key players operating in the North America fire truck market are Spartan, Inc., Rev Group, Inc., Pierce Manufacturing, Inc., and W. S. Darley & Co. Manufacturers majorly focus on new 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.
The North America fire truck market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:
Market Share, By Product
- Aerial Truck
Market Size, By Application
- Residential and Commercial
The above information is provided on a country basis for the following: