APAC Fire Truck Market to grow at 4.5% CAGR from 2020 to 2026

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Asia Pacific Fire Truck Market to hit 2 Bn by
2026 Graphical Research
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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.
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Prominent fire truck market players operating in
the APAC region are Sichuan Chuanxiao
Fire-Fighting 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 worlds 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
multi-functional equipment integrated with a
21-meter aerial platform. Segmentation of Asia
Pacific Fire Truck Market APAC Fire Truck
Market, By Product Aerial Truck Pumper Tanker APA
C Fire Truck Market, By Application Residential
and Commercial Airport Military The above
information is provided on country basis for the
following China India Japan South Korea
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