Global Vacuum Truck Market Overview
The key driver impacting the Vacuum truck market is the rising necessity for vacuum trucks in industrial applications. For instance, Vacuum trucks can easily retrieve and move liquids, slurries, solids, dense mud, and dry bulk powders from reach to hardened areas. In addition, vacuum truck loaders have various advantages that lead to its high demand across industries. The benefits include safety, convenience, helps in performing an efficient operation, and is highly cost-effective. Also, the growing collaboration among construction equipment manufacturers and rental fleet owners is positively impacting the market growth. Moreover, the rising launch of advanced and innovative vacuum trucks contributes to vacuum truck market demand in the coming years.
According to Value Market Research, the global Vacuum Truck market size was valued at about USD 2250 million in 2020 and is estimated to grow at a CAGR of around 12.5% during the forecast period 2021 to 2027.
The rising application of trucks in cleaning and sanitization will likely augment the need for vacuum trucks in the forecast period. For instance, Vacuum trucks are well outfitted with high-powered hydro-excavation and vacuum systems which are intended to clean out diverse types of industrial lagoons, tanks, and municipal water infrastructure. Trucks are also integrated with debris tanks of their own for carrying away materials for safe discarding. In addition, trucks are designed and modified to carry wet or dry waste, industrial liquid sludge, or slurry to treatment plants. The off-loading solutions presented by the trucks can make specific speedy operations in cleaning applications. However, the high demand for labor-efficient trucks may hamper the market in the long run. The industry trends, including growing technological advancement and the rising application scope of vacuum trucks, are expected to offer several beneficial market opportunities to the key players.
The Vacuum truck market is vast, with many local and global players. The Vacuum truck market is extensive, with many regional and international players. The market leaders follow various strategies to enhance their position in the market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. For instance, in June 2020, a major manufacturer of vacuum trucks and heavy industrial cleaning equipment, KOKS, launched a range of high-pressure units. The extensive range of hot water units can function at a pressure of 15 to 1,000 bar. The key players included in the report are Rivard, K&E, Vac-Con, KOKS, Sewer Equipment, Cappellotto, Heli, GapVax, Ledwell, Vacall Industries, Cappellotto, Hi-Vac, Federal Signal, Super Products, Aerosun, AFI, Keith Huber, Disab, Chengli, Amphitec, and others.
In this research report, the Vacuum truck market is segmented by type, application, and region.
Analysis by Type:
By Type, the report is categorized into liquid suctioning only, liquid and dry suctioning, and high velocity. The liquid and dry suctioning segment dominates the process segment with over 55% share in 2020. It is due to the growing application of liquid sanctioning in various cleaning sectors. Moreover, liquid sanctioning is based on pneumatic transportation, thus contributing to the liquid and dry suctioning segment's growth in the forecast period.
Analysis by Application:
By application, the report is categorized into industrial, excavation, municipal, and others. The industrial segment dominates the application segment with over 30% share in 2020. It is due to the rapidly growing industrial sector across developing and developed nations, creating a high demand for vacuum trucks. Moreover, the massive adoption of vacuum trucks in industrial cleaning applications contributed to the growth of the industrial segment in the forecast period.
Analysis by Region:
In the regional outlook of the global Vacuum truck market, the Europe region is expected to hold the second-largest market share of around 30% in the forecast period. It is due to the massive automobile production in the UK, Germany, and France. Moreover, noteworthy growth in terms of infrastructure & economy and industrialization in the countries of Europe contributes to the tremendous market growth across Europe.
Market Segmentation covered in the Report:
- Liquid Suctioning Only
- Liquid and Dry Suctioning
- High Velocity
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.