Vacuum Truck Market By Product Type (Dry and Liquid Suctioning and Liquid Suctioning), By Application (Industrial, Excavation, Municipal, General Cleaning, and Others), By Fuel Type (Electric and ICE), By Geography & Forecasts By 2030
- PUBLISHED ON
- 2024-07-10
- NO OF PAGES
- 256
- CATEGORY
- Machinery & Heavy Industry
Vacuum Truck Market is presently valued at USD 1.22 billion and is poised to amplify at a CAGR of 6.8% over 2022-2030, thereby amassing a valuation of USD 1.93 billion by end of the assessment timeline.
The escalating demand for efficient industrial cleaning applications along with growing R&D investments in the field are the primary factors augmenting the outlook of this marketplace. Alongside, increasing environmental cognizance among the masses is adding traction to the industry growth.
Additionally, widespread technological advancements in the field and surging efforts of market players to develop innovative products in the field are creating lucrative opportunities for the business sphere to prosper.
Also, rapid industrialization and urbanization leading to increasing amount of waste generation is enhancing the adoption of vacuum trucks across the globe.
On the flipside, high costs pertaining to these trucks and lack of skilled operators in the field are hindering the remuneration scope of this business vertical.
Vacuum Truck is referred to as a type of vehicle that is specifically designed to suck slurries, liquid waste, and sludges. These trucks are predominantly adopted by municipal authorities for septic and sewer maintainece. They are also utilized in various industries to suck wastewater and debris from drilling or hydro-excavation sites. Vacuum trucks contain a blower or vacuum pump, an inline filter along with a debris receiver tank.
Market Key Trends
Rising Environmental Awareness Among The Masses To Aid Industry Expansion
The prompt industrialization and urbanization has resulted in an increased amount of waste generation. This in turn is contributing to the growing pollution levels across the globe, thereby causing various ailments among humans and animals.
Growing Demand For Industrial Cleaning Applications To Bolster Market Progression
Various companies are adopting advanced cleaning applications to facilitate efficient waste management. Firms pertaining to the manufacturing and construction sector are taking several measures to deal with dry and wet industrial slurries and sludges. This in turn has elevated the demand for vacuum trucks for industrial cleaning applications.
Market Segmental assessment
By Product Type
• Liquid Suctioning
The liquid suctioning segment is expected to garner significant returns over the forecast duration of 2022-2030. This is ascribed to the increasing number of water management projects and growing instances of liquid-based suctioning across industrial, commercial, and oil sectors.
By Application
• Industrial
• Municipal
• General Cleaning
• Others
The industrial segment is poised to amass notable gains over 2022-2030 due to the widespread industrialization and the growing demand for the efficient cleaning of municipal waste materials.
By Fuel Type
• Electric
• ICE
The electric segment is likely to expand with a high CAGR over the estimated timeline due to the operational efficacy and energy efficiency of electric based vacuum trucks.
Market Geographical landscape
North America, Middle East & Africa, Europe, Asia Pacific, and South America are the major regions defining the geographical terrain of this business vertical.
Market Competitive Intelligence
The prominent players characterizing the competitive gamut of this marketplace are Fеdеrаl Ѕіgnаl, Ѕеwеr Еquірmеnt, GарVах, Vас-Соn, Кеіth Нubеr, Ѕuреr Рrоduсtѕ, Vасаll Іnduѕtrіеѕ, Lеdwеll, Ні-Vас, Сарреllоttо, К&Е, КОКЅ, Rіvаrd, Dіѕаb, Неlі, Аеrоѕun, Сhеnglі, Supervac, Safety-Kleen, Fоtоn, and Others.
Notably, in March 2022, PEIRCE-EAGLE EQUIPMENT COMPANY was acquired by Vac-Con. Inc., with an aim to amplify the latter’s global footprint.
Key Segments Reported
• By Product Type (Dry and Liquid Suctioning)
• By Fuel Type (Electric and ICE)
Major Regions And Countries Covered
• North America (U.S., Canada, and Mexico)
• Europe (Germany, France, U.K., Spain, Italy, and Russia)
• South America (Brazil, Argentina, and Colombia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, ASEAN, and South Korea)
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global vacuum truck market is presently valued at USD 1.22 billion and is poised to amplify at a CAGR of 6.8% over 2022-2030, thereby amassing a valuation of USD 1.93 billion by end of the assessment timeline.
What are the drivers shaping various markets?
Various companies are adopting advanced cleaning applications to facilitate efficient waste management. Firms pertaining to the manufacturing and construction sector are taking several measures to deal with dry and wet industrial slurries and sludges. This in turn has elevated the demand for vacuum trucks for industrial cleaning applications.
Who are the key competitors of market Players?
Some of the major players operating within the market are Fеdеrаl Ѕіgnаl, Ѕеwеr Еquірmеnt, GарVах, Vас-Соn, Кеіth Нubеr, Ѕuреr Рrоduсtѕ, Vасаll Іnduѕtrіеѕ, Lеdwеll, Ні-Vас, Сарреllоttо, К&Е, КОКЅ, Rіvаrd, Dіѕаb, Неlі, Аеrоѕun, Сhеnglі, Supervac, Safety-Kleen, Fоtоn, and Others.
What are the top performing segments, and countries / regions of each of the markets?
North America, Middle East & Africa, Europe, Asia Pacific, and South America are the major regions defining the geographical terrain of this business vertical.
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