Market Research Future (MRFR) has published a cooked research report on the “Global Vacuum Truck Market” that contains information from 2018 to 2032. The Vacuum truck market is estimated to register a CAGR of 7.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global vacuum truck market— 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. and others
Vacuum Truck Highlights
The global vacuum truck market is accounted to register a CAGR of 7.50% during the forecast period and is estimated to reach USD 3.4 Billion by 2032.
The vacuum truck market is a segment of the commercial vehicle industry that specializes in vehicles equipped with powerful vacuum systems for various applications, including waste removal, septic tank cleaning, and industrial cleaning. This market has witnessed steady growth due to increasing environmental regulations, urbanization, and industrial activities. Demand is driven by the need for efficient and eco-friendly waste management solutions.
Segment Analysis
The global vacuum truck market has been segmented based product type, application and fuel type.
On the basis of product type, the market is segmented into dry suctioning and liquid suctioning. The dry suctioning segment dominated the market in 2022. Industrial waste, comprising liquids, sludges, and solid debris, must be removed efficiently, therefore vacuum trucks that can suction both dry and liquid materials are needed.
Based on application, the global vacuum truck market has been segmented into industrial, excavation, municipal, general cleaning and others. The industrial segment dominated the market in 2022. Vacuum trucks are used extensively in the oil and gas industry for a variety of purposes. These trucks are employed for a variety of exploration and production-related jobs, including delivering drilling mud, cleaning oil storage tanks, getting rid of drilling waste, and more.
Based on fuel type, the global vacuum truck market has been segmented into electric and ICE. The ICE category generated the most income in 2022. The performance and power of vacuum trucks powered by ICE are well-known.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Vacuum Truck Market Trends
Regional Analysis
The global vacuum truck market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Vacuum truck market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Vacuum truck market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Vacuum truck market comprises of Middle East, Africa, and Latin America.
The North America vacuum truck market dominated this market in 2022 (45.80%). Some of the world's harshest environmental rules are found in the United States and Canada in particular. These regulations regulate several areas of waste management, hazardous material management, and pollution control. Businesses require vacuum trucks to follow these regulations. They assist in the safe and efficient collection, transportation, and disposal of hazardous and non-hazardous waste materials, protecting businesses from fines and minimizing their environmental impact.
Moreover, the second-largest market share belongs to the vacuum truck market in Europe. Environmental sustainability and trash management are highly valued in Europe. Pollution control and garbage disposal are governed by strict legislation. In order to handle hazardous garbage, sewage, and other materials in a way that is environmentally appropriate and in line with European environmental goals, vacuum trucks are crucial equipment for businesses and municipalities.
Additionally, the Asia-Pacific vacuum truck market is expected to grow at the fastest CAGR from 2023 to 2032. Many Asian nations' largest industry is agriculture. Managing manure and carrying liquid fertilizers, which are necessary for contemporary and effective farming techniques, are duties that vacuum trucks are utilized for.
Furthermore, the rest of the world's vacuum truck market is divided into the Middle East, Africa, and Latin America. Latin America's vacuum truck market has recently shown encouraging expansion. This market includes the purchase and use of vacuum trucks, which are essential for sewage services, industrial cleaning, and waste management in the area. Demand has increased as a result of factors such growing metropolitan populations, improved infrastructure, and stronger environmental restrictions. Local producers and foreign businesses are significant market participants in Latin America's vacuum truck industry, both of which support the region's attempts to find effective and sustainable waste management solutions as well as the market's continuous growth.
Key Findings of the Study
- The global vacuum truck market is expected to reach USD 3.4 Billion by 2032, at a CAGR of 7.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market. Agriculture is a significant sector in many Asian countries. Vacuum trucks are used for tasks such as managing manure and transporting liquid fertilizers, which are essential for modern and productive farming practices
- Based on fuel type, the ICE segment was attributed to holding the largest market in 2022.
- 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. and others.
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Companies Covered | 15 |
Pages | 128 |
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