The North America Fire Truck Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030).
The demand for fire safety in developed countries is expected to increase along with the need for advanced firefighting equipment, which will help the market grow. A significant rise in the need for fire safety in developed nations and the requirement for advanced apparatus for firefighting are factors anticipated to speed up market expansion. Additionally, it's projected that rising safety regulations would support the need for revolutionary fire engines in the upcoming years. Fire incidences in homes, businesses, sanctuaries, and wildlife areas have increased, can be linked to new infrastructure development and the apparent rise in the need for fire trucks.
With the industry's ongoing technical improvements, the departments constantly upgrade their tools and machinery. As a result, regulations and standards enforced by organizations like the National Fire Protection Association (NFPA) in the United States and the National Association of Fire Equipment frequently undergo amendments. Infrastructure development in developing nations has caused regulatory bodies to impose strict norms and standards to reduce losses and damages to infrastructure, which is anticipated to accelerate the market's growth.
The region's demand for fire protection equipment like fire trucks is driven by beneficial laws from the government, the development of cutting-edge fire prevention technologies, and a rise in fire safety concerns. Real estate developers and businesses in the construction industry must adhere to the US government's guidelines for building fire safety measures. The industrial practices used in the region further raise serious concerns about the fire risk. For instance, the oil & gas industry uses highly flammable ingredients. Fire safety and security awareness have risen as a result of an increase in fire incidences in the region. Considering all these elements, the market is predicted to account significant growth in the region.
The US market dominated the North America Fire Truck Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,355.4 million by 2030. The Canada market is estimated to grow at a CAGR of 7.2% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 6.3% during (2023 - 2030).
Based on Type, the market is segmented into Pumpers, Aerial Platform, Tankers, Rescue, and Others. Based on Application, the market is segmented into Residential & Commercial, Enterprise & Airports, Military and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Fire Truck Market is Projected to reach USD 6.9 Billion by 2030, at a CAGR of 5.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Rosenbauer International AG, Oshkosh Corporation, Magirus GmbH (Iveco Group NV), Weihai Guangtai Airport Equipment Co., Ltd., Danko Emergency Equipment, E-ONE (REV Group, Inc.), The Shyft Group, Inc., Xuzhou Handler Special Vehicle Co Ltd, Morita Holdings Corporation and Zoomlion Heavy Industry Science & Technology Co., Ltd.
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