Read Time:2 Minute, 0 Second
The United States Fire Truck industry has seen a steady increase in demand over the last decade. As a result, the US’s fire truck manufacturing market share is estimated to reach $11.5 billion by the end of 2025, growing at a CAGR of 4.5% during the 2018-2025 period.
Click on the below tab to avail the Sample copy of the report
Request For Sample
Why is the Fire Truck industry growing?
Fire trucks pose a question that society does not quickly answer. How can we prevent a fire from happening? The Fire Truck industry is growing because people have a more challenging time, and the answer always seems to be just out of reach. Yet, without this question answered, the world will never progress in technological innovation and progress.
Size of the market in 2015
The size of the fire truck industry is projected to reach $10.8 billion in 2015, which is a 4.04% compound annual growth rate (CAGR) from 2014-2015. The forecast expects the size of this market to reach $14.6 billion by 2020, with a CAGR from the forecast from 2014-2020 standing at 5.93%.
How do fire trucks make sense for companies?
Fire trucks are essential for large-scale fires. They are used to fight fire and rescue people from hazardous situations. Fire trucks are also equipped with many features that work with modern technology. As a result, there is a lot of demand for fire trucks in the world today, as shown by the global market forecast for this industry.
Click on the below tab for Instant Purchase of the report with flat $500 discount
Request For Instant Purchase
What are the trends?
Firefighting has always been a dangerous profession, but the industry is becoming safer as technology advances. For example, new technologies in fire trucks drastically cut response times and reduced the number of firefighter injuries. In addition, fire departments are investing in more innovative equipment and training to keep firefighters safe on the job.
Forecast to 2025
The global fire truck industry is forecast to reach $3.6 billion in 2019. This market is projected to grow at a CAGR of 2.1% through 2025, reaching $4.8 billion by the end of 2025. The engine, pump, and accessory segment will grow at a CAGR of 3.5% during the period under review
Happy
0
0 %
Sad
0
0 %
Excited
0
0 %
Sleepy
0
0 %
Angry
0
0 %
Surprise
0
0 %
Source: https://womenschronicle.com.au/2022/01/24/fire-truck-industry-analysis-and-forecast-to-2025/
