Fire Truck Market Expected to Witness Significant Growth During the Forecast Period | ALBERT ZIEGLER
Market Research Future (MRFR), highlights that the “Global Fire Truck Market 2020” is expected to grow exponentially, securing a significant market valuation and a vigorous CAGR of 4.5% over the evaluation period
Market Research Future (MRFR) report on the Global Fire Truck Market addresses the COVID-19 analysis of a critical factor affecting the market growth. The global market 2020 is set to expand at a rate of 4.5% between 2018 and 2023 (review period), says Market Research Future (MRFR). We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
The novel coronavirus has disrupted almost every industry across the globe, including the automotive sector. The short term impact has led to shutting down of various manufacturing units due to the lockdown imposed by governments across countries. Production units are observing lack of labor owing to social distancing practice induced by the pandemic. SARS-CoV-2 has also resulted in showrooms being shut down, besides a drop in vehicle sales. The automotive industry is grappling with the aftereffects of the COVID-19 outbreak, issues such financial crisis combined with the weakening of the supply chain networks around the world.
Key Boosters and Main Barriers
The increasing need for fire safety in developed economies along with the mounting demand for superior quality firefighting apparatus can benefit the fire truck market in the long run. The increasing strictness of standards related to safety can also boost the worldwide demand for fire trucks. Governments are progressively deploying fire trucks for rescue operations and medical emergency services. Further, product advancements and technological innovations in the fire apparatus field and the consequent reduction in the fatality rate during fires also induce significant business growth across the globe.
The leading companies in the fire truck industry are ALBERT ZIEGLER GmbH (Germany), Rosenbauer International AG (Austria), Spartan Motors (USA), KME Corp. (USA), MORITA Holdings Corporation (Japan), W. S. Darley & Co. (USA), Zoomlion Heavy Industry Science & Technology Co., Ltd., (China), Alexis Fire Equipment Company (USA), Magirus GmbH (Germany), Oshkosh Corporation (Japan), and more.
Fire Truck Industry has been considered for type as well as application.
Segmentation by types
Segmentation by Application
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The Fire Truck Market Analysis by MRFR covers the key regions of Europe, APAC/Asia Pacific, North America, and RoW/Rest of the World.
It is quite likely that the North American market can gain the leading position in the global market during the evaluation timeline, as a result of the high deployment of advanced technologies, strong financial conditions, and the existence of a massive number of renowned manufacturers across the U.S as well as Canada.
The population boom along with the mounting awareness regarding the significance of the fire-fighting apparatus can be major growth boosters in the APAC market. China is among the top ranking markets in the region, both in terms of consumption and production. The country is also a crucial hub for a number of manufacturers that are known globally. The increasing uptake of fire trucks in enterprises, airports and commercial applications is anticipated to result in a highly lucrative industry outlook.
Major Highlights of TOC Covers:
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