Global Industry News: Vacuum Truck Market Size, Share, Current Trends, Growth Analysis, Investment, and Forecast until 2032

Monday, May 20, 2024

Vacuum Truck Market Size, Share, Current Trends, Growth Analysis, Investment, and Forecast until 2032

Vacuum Truck Market Overview

According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Vacuum Truck Market Information by Product Type, Application, Fuel Type, and Region - Forecast till 2032" " The vacuum truck market will be expanding from USD 1.9 Billion in 2023 to USD 3.4 Billion by 2032, at a rate of 7.50% between 2023 and 2032.

The municipal corporations of various cities to effectively manage large-scale liquid and sludge clean up, mainly use vacuum trucks or vacuum tankers. These trucks are most commonly used in the maintenance of sewer and septic systems. They can also be used in industrial and municipal settings to suction water and debris during hydro-excavation or drilling jobs. From clearing mud to exposing utility lines to prevent sewer system blockage, vacuum tankers meet the needs of cities and industries requiring environmental cleanup, storage tank upkeep, and waste management.

In conjunction with a breakdown in value and supply chain processes, the pandemic created a great deal of uncertainty throughout the sector. Due to a dearth of fresh orders during the pandemic, businesses were already experiencing severe cash flow problems. Consequently, their profit margins were severely impacted by the supply chain crisis.

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Market Competitive Landscape:

· Kanematsu Engineering Co Ltd

· Federal Signal Corporation

· Rivard

· FULONGMA GROUP CO LTD

· Keith Huber Inc.

· KOKS Group bv

· CAPPELLOTTO S P A.

· Vac-con Inc.

· GapVax

· Gradall Industries Inc.

Market Drivers:

Industrial facilities, including factories, manufacturing plants, self-storage facilities, warehouses, and power plants, require specialized cleaning tools and vehicles to maintain their interiors. Plumbing systems, sewers, and industrial buildings of various sizes require cleaning. Furthermore, clogged drains are a common problem in industrial operations and can cause significant harm. A facility's pipes may erode as a result of drain clogs, and major backups can result in breaks that require expensive repairs. Heavy-duty industrial drain cleaning equipment is also necessary for applications involving the use of wet materials in vacuum equipment, including petrochemical operations, emergency clean-up, technical chemical cleaning, industrial cleaning, offshore operations, and oil separation.

Besides, numerous businesses in the market have actively taken action to expand their industrial vacuum business by implementing various techniques. For instance, in North America, sales of Hydrovacs for use in construction have increased significantly. These trucks also use high-pressure water to break up the soil, and a strong suction system takes the debris into a debris tank. Additionally, the industry has grown as a result of improved vehicle safety and rising development in underdeveloped nations. Additionally, a variety of models select an offloading method to guarantee the best fit for the cleaning application. Therefore, it is projected that a rise in the demand for industrial cleaning applications will fuel market expansion for vacuum trucks.

Due to their ability to minimize spills and regulate odors, vacuum trucks are recommended by the US Environmental Protection Agency (EPA) for the transportation of biosolids. For a healthy environment, these characteristics reduce the exposure to the risks associated with these compounds. Thus, the vacuum truck market is expanding rapidly because of stringent government regulations and laws enforced on enterprises for environmental awareness.

Market Restraints:

The vacuum truck includes a number of sophisticated technological components, including pumps, a filter system, an off-loading system, suction hoses, and numerous sensors and transmitters. The cost of each of these sewage/vacuum truck subsystems is significant, which ultimately raises the price of vacuum trucks used in cars. This would hinder the growth of the worldwide vacuum truck market over the coming years.

Market Segmentation

Dry suctioning and liquid suctioning are two product types included in the Vacuum Truck Market segmentation.

Industrial, excavation, municipal, general cleaning, and other applications are included in the segmentation of the vacuum truck market, in terms of application.

Electric and ICE fuel types are included in the segmentation of the vacuum truck market. In 2022, the ICE category produced the greatest revenue.

Regional Insights

In 2022, North America seized the top position (45.80%) in the worldwide vacuum truck market. Given that the US and Canada are producing more of these vehicles annually, the region will continue to dominate the worldwide market. Rapid urbanization, a rise in the level of living, and an increase in the use of large trucks in industrial settings are all factors contributing to the increased demand for these vehicles.

Vacuum Truck Market Segmentation

Vacuum truck Product Type Outlook