Fire Truck Market is Anticipated to Gain Moderate CAGR by 2027
Stratview Research delivers key insights on the global Fire Truck Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Fire Truck Market:
• Brembo S.p.A.
• EBC Brakes
• HAWK Performance
• Hunan Boyun Automobile Brake Material Co., Ltd.
• Icer Brakes S.A.
• KFE Brake Systems
• Nisshinbo Brake Inc.
• Ranbro Brakes India Limited
• Sangsin Brakes America Inc.
• Wilwood Engineering Inc.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Fire Truck Market value and growth drivers over the trend period of 2022-27. According to the report -
Fire Truck Market is likely to witness an impressive CAGR of 5.5% during the forecast period. The emerging market trend of integrating advanced technologies such as telematics and artificial intelligence in fire trucks and growing number of fire incidents and mishaps globally are some of the major factors driving the fire truck market growth during the forecast period.
Segment Analysis:
Based on by Product Type:
Based on the product type, the market is segmented as aerial truck, pumper, tanker, and others. The pumper segment accounted for the major share of the market in 2021. Pumper trucks are able to pump water from external water sources, such as water tankers, wells, and overhead tanks, and are also of low cost as compared to other advanced fire truck models, fueling their adoption and product demand during the forecast period.
Based on Regional:
In terms of regions, North America is estimated to account for the major share of the market during the forecast period owing to increase in government investments in fire trucks with enhanced technologies and growing number of fatal fire accidents in the region. Factors such as growing awareness of upgrading fire truck fleet with the latest models having multifunctional equipment to increase their efficiency and shifting inclination of local fire departments towards enhancing their operating efficiency are further expected to accelerate the regional market growth over the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Fire Truck Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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