Fire truck’s principal role involves bringing firefighters to an emergency passage to extinguish the fire with water or with a slightly chemical composition. Moreover, they are remunerated by government agencies for medical emergency care and liberation operations. Material innovation and technological enhancements in the field of fire appliances and linked equipment have decreased the rate of deadliness in accidents comprising fire. Also, owing to the continuous technical improvement in the field, the department’s requirement to continue progressing their equipment and apparatus. As a result, the strategies and regulations obligatory by organizations such as the National Fire Protection Association (NFPA) around the United States and the National Association of Fire Equipment across India are continuously being amended.
According to the report analysis, ‘COVID-19 Impact on Global Municipal Firefighting Trucks Market: By Application(Residential Use, Commercial Use and Others); By Product Type(Pumper Trucks, Aerial Platform Trucks, Rescue Trucks and Others) and Region –Analysis of Market Size, Share and Trends for 2014 – 2019 and Forecasts to 2030’ states that Fire trucks’ requirement is increasing owing to the adoption of up-to-date and advanced technology, product modernization, and the usage of the fresh digital technologies and innovative equipment that will support enhance the fire truck’s performance, power, and quality. The growth of the market is projected to augment the demand for fire protection amongst the developing region and the requirement for advanced firefighting equipment. Also, growing safety standards around the globe are expected to support requirements.
However, the international pandemic COVID-19 has become worldwide stress, not just for human lives, but also for industries crosswise different industry verticals. The COVID-19 disease has infested several million people internationally, with an increasing number of energetic cases daily, the length of the pandemic is still demanding to predict. The ultimatum for fire trucks should expect some comfort because of the mitigation steps being taken by diverse government bodies around regions. For example, along with the Pandemic Emergency Purchasing Program, the European Union is lending assistance to the automotive sector, which supports corporates purchase commercial papers as well as sovereign bonds from commercial merchants along with member states while managing their liquidity intact within the finance system.
Furthermore, the EU has also comfortable its strict automotive-related regulations and can enlarge the scale of any asset acquisition over a lengthier period of time. With the acceptance of contingency schemes and financial institutions progressively coming up with relief strategies, bearing in mind the effects of COVID-19 the fire truck industry will make a robust comeback. Despite the pandemic outpouring, growing awareness about fire protection and connected resources is also functioning in favor of the fire truck industry.
Moreover, the newer technological advancements around the Municipal Firefighting Trucks Market as well as the large introduction output of the product by foremost players are likely to augment the market growth. Infrastructure improvement in underdeveloped countries has led regulatory bodies to introduce limit codes and standards to decrease infrastructure damage and losses that are projected to accelerate market growth. Therefore, in the near years, it is predicted that the market of municipal firefighting trucks will increase around the globe more effectively over the upcoming years.
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Ankur Gupta, Head Marketing & Communications