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Global Vacuum Truck Market- Description
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.
Global Vacuum Truck Market- Overview
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.
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. Besides, the integration of innovative technologies into the waste management dynamics is positively swaying the outlook of this industry.
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.
Global Vacuum Truck 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. Hence, various nations are adopting efficient waste management procedures and equipment to reach their sustainability goals. These factors are adding momentum to the market development.
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.
Global Vacuum Truck Market- Segmental assessment
By Product Type
• Dry and Liquid Suctioning
• 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.
• General Cleaning
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
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.
Global Vacuum Truck 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. Among these, North America is projected to amplify with a substantial CAGR over 2022-2030. This is credited to the widespread industrialization, adoption of efficient waste management techniques, and growing environmental cognizance of the masses.
Global Vacuum Truck 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.
Global Vacuum Truck Market: Historical Years- 2018-2021
Global Vacuum Truck Market: Forecast Years- 2022-2030
Global Vacuum Truck Market 2022- USD 1.22 billion
Global Vacuum Truck Market 2030- USD 1.93 billion
Global Vacuum Truck Market CAGR- 6.8%
Key segments reported-
• By Product Type (Dry and Liquid Suctioning)
• By Application (Industrial, Excavation, Municipal, General Cleaning, and Others)
• 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)
Top players profiled- 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
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