The Fire Fighting Vehicles market in South Africa has seen variable trends over the past decade. In 2012, the market was valued at $27.571 million, and it experienced a general decline until 2017, hitting a low of $22.777 million. However, there were slight recoveries in 2018 and 2019, with values reaching $24.178 million and $25.58 million respectively. Despite a dip in 2020 to $23.435 million and a further reduction to $23.225 million in 2021, the market saw a modest increase in 2022 to $24.23 million.
Key Year-on-Year Trends:
- 2021 to 2022: 4.33% increase
- 2020 to 2021: -0.9% decrease
Past Five-Year CAGR: 1.25%
Future Trends to Watch For:
Looking ahead, the market could benefit from technological advancements in fire fighting vehicles, increased government investment in fire safety infrastructure, and a rise in awareness regarding fire safety. These factors may potentially contribute to a steady growth in the market from 2024 onwards.