APAC Fire Truck Market to grow at 4.5% CAGR from 2020 to 2026: Graphical Research APAC Fire Truck Market Size is estimated to reach USD 2 Billion by 2026. The increase in the number of large outdoor fire accidents in countries including Japan and India will augment the demand for fire trucks in the Asia Pacific region. Naturally-occurring fires post natural calamities, such as earthquakes and floods, can account for several casualties. Rising awareness and government support to mitigate the loss of life and property caused by such fire accidents are providing new opportunities for the growth of the fire trucks market in Japan and China. The APAC fire truck market has been significantly impacted due to the prevailing COVID-19 health crisis. The manufacturing of automotive vehicles has witnessed a temporary slowdown owing to the shutdown of various manufacturing plants. The coronavirus outbreak has also halted the raw materials & electronic component supply to the global market from China. However, with the economic revival and the containment of virus, the fire trucks market will witness a steady growth over the next three years.
The rising government expenditures in the construction of new airports will proliferate the demand for fire trucks in the region. The government of India is taking several initiatives to enhance the commercial aviation sector to promote the economy and provide sustainable growth opportunities for airline companies. In October 2020, the Airports Authority of India (AAI) announced its plan to enhance runways at seven airports throughout the country by March 2022. Similarly, AAI plans to invest USD 3.58 billion in the next five years to enhance the infrastructure and facilities at airports. Increasing passenger footfall at airports coupled with rising deployment of fire trucks will generate lucrative growth opportunities for the market. Prominent fire truck market players operating in the APAC region are Sichuan Chuanxiao FireFighting Vehicle Co., Ltd., Magirus, Morita Holdings Corporation, and Beijing Zhongzhuo Fire Fighting Equipment Co., Ltd. The key players are focusing on new innovations and product launches. For instance, in October 2019, Magirus launched the world’s first gas-powered fire engine H(LF) 10. It has a capacity of 420 liters of CNG. Similarly, in May 2018, Morita Holdings Corporation launched Morita Various Fighter 21 (MVF21). The new fire fighter is a multifunctional equipment integrated with a 21-meter aerial platform. Browse key industry insights from this 2020 report Asia Pacific Fire Truck Market in detail along with the table of contents at https://bit.ly/32PCAEs
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Segmentation of Asia Pacific Fire Truck Market:
APAC Fire Truck Market, By Product • • • •
Aerial Truck Pumper Tanker Others
APAC Fire Truck Market, By Application • • •
Residential and Commercial Airport Military
The above information is provided on country basis for the following: o o o o
China India Japan South Korea
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