Vacuum Truck Market Forecasts to 2028 – Global Analysis By Product (Liquid Suctioning and Dry and Liquid Suctioning), Fuel Type (ICE and Electric), Application and By Geography

Vacuum Truck Market Forecasts to 2028 – Global Analysis By Product (Liquid Suctioning and Dry and Liquid Suctioning), Fuel Type (ICE and Electric), Application and By Geography

According to Stratistics MRC, the Global Vacuum Truck Market is accounted for $1.30 billion in 2022 and is expected to reach $2.59 billion by 2028 growing at a CAGR of 12.2% during the forecast period. Cities frequently utilise vacuum trucks, also referred to as vacuum tankers, to manage extensive liquid and sludge clean-up, most frequently in the maintenance of septic and sewer systems. They can also be used to suction water and debris left over from hydro-excavation or drilling projects in industrial and municipal environments. Vacuum tankers provide the environmental cleanup, storage tank maintenance, and waste management required by cities and industry, from removing dirt to exposing utility lines to prevent sewer system overloads.

According to the American Trucking Association (ATA), approximately 71% of the freight tonnage carried in the United States is transported by trucks.

Market Dynamics:

Driver:

Increasing need for industrial cleaning applications

Industrial vacuum tankers, usually referred to as vacuum loaders, are frequently used throughout the world to remove slurries, liquid, solid, and dry waste from challenging terrain. Furthermore, the strong vacuum system on these trucks takes the debris into the debris tank while breaking up the dirt with high-pressure water. The market is expanding as a result of the increased safety of such cars as well as the rising development in developing nations.

Restraint:

Huge demand for labour-efficient trucks

Numerous important businesses started entering the labor-efficient vacuum tanker market as a result of the high demand for efficient trucks and vehicles both domestically and overseas. Additionally, it is anticipated that restrictions in the downstream industry may impede market expansion. The market has also been hindered by limited production capacity following the first shutdown and the expensive cost of producing and servicing such trucks.

Opportunity:

Rise in environmental awareness

The expansion of the market is being impacted by factors such as the rise in urban population, better waste management practises, and innovation in features that save time and energy while executing tasks efficiently and effectively. Additionally, it is anticipated that the adoption of waste management procedures, along with government initiatives to raise public awareness of environmental waste management, will increase demand for these vehicles.

Threat:

High operating cost

The vacuum truck includes a number of sophisticated technological components. The cost of each of these sewage subsystems is significant, which ultimately raises the price of vacuum trucks used in cars. Because of the equipment's short lifespan and high maintenance costs, these machines are used roughly. This could turn consumers away from using manual cleaning methods, which would hinder the growth of the market.

Covid-19 Impact

The Vacuum Truck market is anticipated to go through a brief period of slow revenue growth. Production activities across numerous industries have been affected by supply-chain disruptions brought on by this outbreak. However, different market participants in the global vacuum truck market are currently putting more of an emphasis on the creation of profitable mergers, acquisitions or joint venture operations as a way to expand their respective clienteles. Key companies may expect a significant increase in business opportunities as a result of this aspect and the strong industrialization prospects in the growing economies.

The liquid suctioning segment is expected to be the largest during the forecast period

The liquid suctioning segment is estimated to have a lucrative growth, due to anticipated growth in water management projects, water treatment facilities, and global water conservation measures. Moreover, rapid urbanisation and industrialisation have led to a surge in waste generation, necessitating efficient waste management and sanitation services. Additionally, growing liquid-based suctioning in the commercial, industrial, and oil sectors will contribute to a major increase in their revenue.

The industrial segment is expected to have the highest CAGR during the forecast period

The industrial segment is anticipated to witness the fastest CAGR growths during the forecast period, due to trucks are becoming more and more necessary. There are numerous factors contributing to this domination, including the rapid expansion of the industrial sector in both industrialised and emerging nations. More and more people realise how vital trucks are. Small businesses or large industrial facilities, plumbing systems, and drains need cleaning.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to rental fleet owners in the area is becoming more and more well-known. The increased emphasis on cleanliness in nations, which is driving up demand for vacuum trucks for industrial cleaning, is another factor contributing to the market expansion. Additionally, the industry's expansion is being supported by the rising number of innovative vacuum truck launches.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the quick industrialization. The region's expanding need for hoover trucks for industrial cleaning is also boosting market expansion. The need for hoover trucks for extensive liquid and smudge cleaning is rising as a result of municipal companies spending more money on sewer repair, which is considerably boosting the industry's growth and the market as a whole.

Key players in the market

Some of the key players profiled in the Vacuum Truck Market include Dongzheng, Federal Signal, Vacall Industries, Keith Huber, Vac-Con, Vactor Inc, Sewer Equipment and KOKS.

Key Developments:

In March 2022, Vac-Con, Inc. announced the acquisition of assets of PEIRCE-EAGLE EQUIPMENT COMPANY. The acquisition is likely to assist the company in expanding its footprints.

In March 2021, Vac-Con has successfully launched their next generation of trailer-mounted sewer jet units under their VecJet portfolio. Consumers can select 375 gallon or 750-gallon water capacity engine with Gas and diesel as fuel options.

In April 2020, Vactor introduced IMPACT combination sewer cleaner with a compact design for easy manoeuvrability in tight, confined spaces. It is an economical choice for small-scale applications.

Products Covered:
• Liquid Suctioning
• Dry and Liquid Suctioning

Fuel Types Covered:
• ICE
• Electric

Applications Covered:
• Municipal
• Industrial
• General Cleaning
• Excavation
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements