Chemical Journal Fire Trucks Market | Page 4

Global Fire Trucks Market Growth and Trends Analysis
Rescue fire trucks are estimated to explore a slew of opportunities in terms of innovation and sales,
boosting traction in coming years.
With surging industrial safety concerns and frequently evolving safety regulatory guidelines, fire trucks
continue to witness significant technological innovation. To cater to stringent norms set by the US NFPA
(National Fire Protection Association) and other government affiliated entities, manufacturers of fire
trucks are focusing on equipment upgrade – translating into demand growth in the fire trucks market.
Below 4% Y-o-Y Forecast for Fire Trucks Market Revenue in 2019
The global fire trucks market has been witnessing emergence of specialized fire trucks in recent past,
which is foreseen to be an important factor contributing to market growth. However, the approximately
US$ 5 billion global landscape of fire trucks is projected for a sluggish below 4% yearly growth rate in
2019 and ahead. A new market intelligence on global fire trucks landscape forecasts a passive growth
outlook for the market. High initial capital and relatively low penetration rate are prominently posing a
challenge to the market growth, as indicated by the report.
A senior market research analyst adds further, “Even though the fleets of fire trucks are aging, they are
not being replaced by the new ones at a considerable pace. While this is straightaway hampering the
sales of new fire trucks, the entire scenario ultimately results in limiting the revenue growth of global fire
trucks market. This is foreseen to be the situation in the long run, if the same continues over coming
years”.
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