Rockville, April 26, 2023 (GLOBE NEWSWIRE) -- Fact.MR has provided detailed information about the price points of key manufacturers of vacuum excavators positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR, a market research and competitive intelligence provider, the global vacuum excavator market size is set to reach a valuation of US$ 803.5 million in 2023 and is expected to grow at a CAGR of 6.3% during the forecast period of 2023–2033.
Vacuum excavation is a non-destructive digging technique that increases worker safety on site. Additionally, it is more cost-effective and ecologically friendly than conventional digging equipment or methods. Vacuum excavators, sometimes known as industrial cleaning trucks, are used to transport slurries, solids, dry powder, and thick muck from hard-to-reach regions.
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Traditional digging processes are time-consuming and sometime spendthrift. Tradition digging process involves human activity which increases the chances of error and can sometimes cause damage to the pipe. The use of vacuum excavators in digging helps in overcoming these challenges.
The aforementioned factors are creating immense growth opportunities for the market players and are likely to enhance the sales of vacuum excavators.
Key Takeaways from Market Study
- The global vacuum excavator market is projected to grow at 6.3% CAGR and reach US$ 1,516.5 million by 2033.
- Construction application is poised to grow with a CAGR of 6.2% and reach a market valuation of US$ 580.9 million by 2033 and create an absolute dollar opportunity of US$ 285.1 million.
- East Asia is growing with a CAGR of 6.4% and will expand 1.9X times during the forecast period.
- Heavy vacuum excavator is estimated to gain ~82.6 BPS.
- Under tank capacity, the 3,000 TO 6,000 L segment is expected to dominate the market with a 35.8% market share in 2033.
Competitive Landscape
Prominent vacuum excavator manufacturers are
- Badger Daylighting
- Hitech Industrial Services
- Ring-O-Matic
- SEWER EQUIPMENT
- Super Products
- Vermeer
- Vactor Manufacturing
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Key players are concentrating on organic business growth. This is accomplished by emphasizing overhead savings, regional expansion, and product portfolio diversification. Companies are pursuing price optimization and maintaining strategic customers in emerging areas.
Players are paying more attention to noise levels. A vacuum excavator is not a quiet piece of equipment. Getting the noise level down improves operator comfort and minimizes the disturbance when working near homes and businesses.
- In August 2021, Super Products introduced a new vacuum truck named Mud Dog 700. This vacuum truck is compact, and versatile and has a 7-yard debris body and a 600-gallon water tank. Mud Dog Vacuum Excavators are built to withstand the demands of a wide range of applications, from small-scale urban projects to large-scale excavation, potholing, and trenching jobs.
Market Development
Manufacturers are offering the replacement of old parts and accessories so that the overall cost of product replacement can be reduced. The majority of manufacturers are offering rental services due to high product and operation costs, which limits users from purchasing these machines.
For instance, manufacturers such as Vermeer and Vactor are top rental companies for vacuum excavators, providing rental offerings to consumers. Vacuum excavator rental programs provide a steady source of asset finance and cost-benefit analysis, and they benefit both, enterprises and customers.
Segmentation of Vacuum Excavator Industry Research
- By Type :
- Hydro
- Air
- By Material Sucked :
- Liquid Suctioning Only
- Dry Suctioning Only
- Liquid and Dry Suctioning
- By Mounting :
- Trailer mounted
- Truck mounted
- By Size :
- Mini/Compact
- Standard/ Full Size
- Heavy
- By Application :
- Construction
- Residential & Commercial Construction
- Infrastructure Construction
- Road Construction
- Mining
- Utility & Municipal
- Construction
- By Tank Capacity :
- Up to 1,000 L
- 1,000 TO 3,000 L
- 3,000 TO 6,000 L
- 6,000 TO 10,000 L
- By Suction Capacity :
- 500 -1500 CFM
- 1500- 3000 CFM
- 3000- 4500 CFM
- 4500- 6000 CFM
- 6000- 7000 CFM
- By Engine Capacity :
- 20-60 HP
- 60-100 HP
- 100-140 HP
- 140-180 HP
- 180- 200 HP
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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What differences can the vacuum excavator market report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the vacuum excavator market and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the vacuum excavator market
- Micro-economics factors that may hamper the prospects of some of the key segments
- Recent spate of research and development (R&D) funding on key vacuum excavator markets
- New business models paving way for disruptions in demand dynamic of key segments
- Regional markets that will be future engine of growth and the industry trends that will support these markets
- Challenges overcoming which may offer industry players competitive edge
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Excavator Market Trends: According to the Fact.MR report, Caterpillar Inc., KUBOTA Corporation, and Doosan Bobcat Inc. are the Tier 1 manufacturers in the excavator market and they collectively account for around 30% revenue share. Leading vendors are investing in technology and R&D to capture lucrative sales opportunities in developed countries.
Sales of Electric Excavators Over The Forecast Period: The key players in the market are opting for local expansion of production, acquisition of brands, expansion of the portfolio, and product-specific research for improved designs and features. Rising demand for excavating activities in various end-use industries is boosting sales of Electric Excavators in Asia Pacific.
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