The global vacuum truck market is anticipated to reach market size of around US$ 5,300 Mn by 2027 and is anticipated to grow at a CAGR of around 11% in terms of revenue during the forecast period 2020 – 2027.
These trucks are found in different industries in manufacturing units. There are many uses for these trucks in the industry, including washing the gutters sanitation rows, capture tanks, storm drains, containment tanks for hydro excavations. These trucks use a mixture of vacuum water and vacuum in clean tanks and pipe at varying flow speeds. The substance usually gets damp or humid, with slurry occasionally. With the support of these vehicles, this kind of wet substance can quickly be transported into the keeper of the waste or body tank.
At present, the downstream demand constraint is a big problem impacting market growth. Many firms started to join the labour efficient vacuum truck market due to the market for manufacturing vehicles in Germany and abroad are strong. The widespread use of vacuum trucks encourages the advancement of consumer categories and the increased demand for work-efficient vehicles brings a profound shift to the vacuum truck market. The commodity is built according to customers’ needs due to the growing relationship between construction equipment suppliers and rental fleet operators. The rental companies form a wide client segment for the demand for vacuum trucks. Facing competitiveness challenges, it is clear that investors continue to be positive about this region as the global recovery cycle, and further new investment is likely to come into play in the future. In the following five years, the volume of consumption will begin to rise steadily.
COVID-19 Pandemic Impact on Market
In view of the slowdown of non-emergency steps, the effects of the COVID-19 pandemic will be even more marked in certain segments of automotive development. In 2020, COVID-19 has influenced the global market for vacuum truck in general. The industrial growth is inevitably impacted, beginning with less opportunity for manufacturing heavy products, medium-sized products and trails. In addition to immediate practical improvements, long-term aspirations are currently not impacted and businesses are anticipated to boost the trend in 2022. Worldwide, countries have shut down their public safety manufacturing facilities. Owing to their lack of medical services, many countries have shut down all showrooms. The COVID-19 has thus had an important influence on the amount of visits to showrooms by customers around the globe.
Rising Need for Industrial Cleaning Applications is Gaining the Traction
Industrial vacuum trucks are also known to contain, retrieve, and move slurries, liquids, solids, dry bulk powders and dense mud from reach to hardened areas as vacuum loaders, which have long history. The trucks are being planned and designed from the ground up to cope with washing and cleaning applications for the most difficult, dry or wet automotive liquids. Many templates, options and offload methods are made available to ensure that the cleaning apps are the right fit. Thus, during the projected period these parameters lead to market growth.
North America holds the largest market share of global vacuum truck market in 2019. The prevalence of the area is due to the rising prevalence of rental fleet owners and industrial applications. This is responsible for North America’s domination in the market, along with the nature of appropriate cleaning policies in the US and Canada. The European economy is expected to expand at a phenomenal CAGR as diverse sectors in the region are increasing rapidly. The Asia Pacific market is expected to show healthy growth due to rising municipal and industrial sludge. These factors should lead to business growth.
Some of the prominent players in the vacuum truck market include K&E, Vac-Con, Rivard, Federal Signal, Sewer Equipment, KOKS, Cappellotto, Heli, GapVax, Vacall Industries, Hi-Vac, Aerosun, Super Products, Keith Huber, AFI, Disab, Chengli, Amphitec, Ledwell, and others.
The global vacuum truck market is segmented as below:
Vacuum Truck Market By Type
Liquid Suctioning Only
Liquid and Dry Suctioning
Vacuum Truck Market By Application
Vacuum Truck Market By Geography
Middle East & Africa
The market for vacuum truck is expected to reach a market value of around US$ 5,300 Mn by 2027.
The vacuum truck market is expected to grow at a CAGR of around 11% from 2020 to 2027.
The industrial is the leading segment by application in the vacuum truck market.
Increasing government attention towards a neat and clean environment also has a positive impact on this industry.
Sewer Equipment, K&E, Vac-Con, Federal Signal, KOKS, Cappellotto, Heli, GapVax, Vacall Industries, Rivard, Hi-Vac, Aerosun, Super Products, Keith Huber, AFI, Disab, Chengli, Amphitec, Ledwell, and others are the prominent players in the market.
North America held the highest market share in the vacuum truck market.
Asia Pacific is expected to be the fastest growing market over the forecast period.