Farmington, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Global Vacuum Truck Market Size Was Valued At USD 1.16 Billion In 2021. The Market Is Projected To Grow From USD 1.22 Billion In 2022 To USD 1.93 Billion By 2030, Exhibiting A CAGR Of 6.8% During The Forecast Period. The COVID-19 pandemic has had effects all over the world that have never happened before. For example, the demand for vacuum trucks is lower than expected in all areas compared to before the pandemic. Our research shows that the world market was 10.2% smaller in 2020 than in 2019.
Cities often use vacuum trucks, which are also called vacuum tankers, to clean up large amounts of liquid and sludge. Most of the time, they are used to keep sewer and septic systems in good shape. They can also be used in factories and cities to clean up water and trash left over from drilling or hydro-excavation jobs. Cities and businesses use vacuum tankers to clean up the environment, keep storage tanks in good shape, and get rid of trash. They can clean up mud and show where utility lines are so that sewer systems don't get too full.
Request Sample Copy of Report “Vacuum Truck Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- March 2022 – Vac-Con, Inc. announced the acquisition of the assets of PEIRCE-EAGLE EQUIPMENT COMPANY. This acquisition will help the company expand its presence.
- March 2021 – Vac-Con has successfully launched the next generation of trailer-mounted sewer jetting units under its VecJet portfolio. Consumers can choose a 375 gallon or 750 gallon water capacity engine with gas and diesel as fuel options.
- April 2020 – Vactor introduced the IMPACT Combination Sewer Cleaner with a compact design for easy maneuverability in tight and confined spaces. It is an economical choice for small applications.
Segment Overview
Product Type Insights
Liquid and dry suctioning make up the biggest part of the market. The liquid suctioning only segment will have a high CAGR over the next few years. This is because there are going to be more water management projects, water plants, and efforts to save water all over the world. Also, the fact that more liquids are being sucked up in the industrial, commercial, and oil industries will help their business grow a lot in the coming years.
Liquid and dry suctioning will grow slowly and be used by a lot of people. In 2021, 57.3% of the market was made up of the liquid and dry suctioning segment. The market share of the segment that only deals with liquid suctioning is low and growing quickly.
Application Insights
The industrial segment is likely to make up most of the market. There are many reasons for this, like the fact that the industrial sector is growing quickly in both developing and developed countries. More and more people are using trucks. Also, the municipal segment is expected to have the second-largest market share because the need to clean up municipal waste is growing. During the period covered by the forecast, the excavating and general cleaning segments are also expected to make up a big part of the market and grow quickly.
Regional Outlook:
Europe was worth USD 0.47 billion in 2021, and it is expected to be worth USD 0.67 billion by 2029. This is an annual growth rate of 4.8%. Since more vacuum trucks are being made in European countries every year, the area is likely to be the biggest automotive hub in the world. This growth can be explained by the fast growth of cities, the rise in living standards, and the growing use of these trucks in industrial settings. During the forecast period, strong government initiatives and ongoing water treatment projects are likely to help the market in the region grow.
North America is the second largest market. This is because more and more people in industrial areas own rental fleets and use them there. Because the U.S. and Canada have good cleaning policies, a market is growing.
As more industrial slurry and sludge removal jobs are done all over Asia-Pacific, the market is expected to grow at a healthy rate. Asia is a centre for the auto industry because more cars are being made there every year. During the forecast period, the market in the region is expected to grow because more important government programmes are being used and more electric and self-driving cars are being used.
Buy this Premium Research Report@
https://www.contrivedatuminsights.com/buy/248495/?Mode=PM
Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 6.8% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 1.22 billion |
| By Product Type | Liquid Suctioning Only, Liquid and Dry Suctioning, Others |
| By Application | General cleaning, Industrial, Excavation, Municipal, Others |
| By Companies | Vactor Inc (U.S.), Federal Signal (U.S.), Vac-Con (U.S.), Keith Huber (U.S.), Sewer Equipment (U.S.), Vacall Industries (U.S.), KOKS (Netherland), Dongzheng (China) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Latest Trends:
The many ways that these trucks can be used makes it easier for new consumer groups to grow, and the growing demand for labor-efficient trucks is changing the market in a fundamental way. Also, as people who sell construction equipment and people who own rental fleets work together more, the products meet customer needs better and better. Even though there are problems right now, it is expected that the market will get better. Stakeholders are hopeful about new opportunities to invest, which will help the market grow.
Driving Factors:
Industrial vacuum tankers, which are also called vacuum loaders, are used all over the world to clean slurries, liquids, solids, and dry waste from places that are hard to get to. Customers say that these trucks are made to clean up the toughest dry or wet industrial liquid sludge or slurry jobs. Also, a lot of businesses on the market are using different ways to grow their industrial vacuum truck businesses.
For example, sales of Hydrovacs used in construction have grown a lot in North America. Also, these trucks use high-pressure water to break up the soil while a strong vacuum system pulls the dirt into a tank. The market is also growing because these cars are getting safer and the economies of developing countries are improving. Also, there are many models, options, and ways to load and unload to make sure the best fit for cleaning tasks. So, all of these things make the market for vacuum trucks grow.
Restraining Factors:
The slowness of the downstream market is one of the biggest problems the market is facing right now. Since there was a lot of demand at home and abroad for fuel-efficient cars, trucks, and other vehicles, a lot of big companies started to get into the market for labor-efficient vacuum tankers. Limitations in the downstream market are also likely to slow the growth of the market.
The growth of the global vacuum truck industry has also been slowed by a lack of production capacity after the initial lockdown in 2020, a lack of semiconductors in 2021, and the high costs of making and maintaining these trucks. The market isn't likely to grow because both demand and supply are going down.
Key Segments Covered:
Top Market Players:
Vactor Inc (U.S.), Federal Signal (U.S.), Vac-Con (U.S.), Keith Huber (U.S.), Sewer Equipment (U.S.), Vacall Industries (U.S.), KOKS (Netherland), Dongzheng (China), and others.
By Product Type
- Liquid Suctioning Only
- Liquid and Dry Suctioning
- Others
By Application
- General cleaning
- Industrial
- Excavation
- Municipal
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- Aircraft Turbofan Engine Market - The Global Aircraft Turbofan Engine Market Is Expected to Register CAGR of Around 7.35% during the Forecast Period 2022 To 2030.
- Family Cargo Bikes Market - The Global Family Cargo Bikes Market Size Was USD 485.7 Million In 2022, Exhibiting A CAGR Of 13.8% During The Forecast Period.
- Magnet Wire Market - The Global Magnet Wire Market Is Expected To Reach USD 52.94 Billion By 2030, Which Is USD 34.49 Billion In 2022, Registering A CAGR Of 5.50% During The Forecast Period Of 2023 To 2030.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
Social: Facebook / LinkedIn / Twitter
Contact Us:
Anna B. | Head Of Sales
Contrive Datum Insights
Phone: +91 9834816757 | +1 2152974078
Email: anna@contrivedatuminsights.com
Website:
https://www.contrivedatuminsights.com
Contrive Datum Insights Press Releases
Latest Contrive Datum Insights Latest Reports
