Global Vacuum Truck Market Size worth USD 2.43 Billion by 2028, with 6.1% CAGR
Key Companies in Vacuum Truck Market are Federal Signal (Illions, U.S.), Vac-Con (Deerfield, U.S.), Keith Huber (Gulfport, U.S.), Sewer Equipment (Illions, U.S.), Vacall Industries (New Philadelphia, Ohio, U.S.), KOKS (North Holland, Netherland), Dongzheng (Suizhou, China), Vactor Inc (Streator, IL, U.S.)
Pune, India, Jan. 24, 2022 (GLOBE NEWSWIRE) — The global vacuum truck market size was valued at USD 1.57 billion in 2020 and it is expected to reach USD 2.43 billion by 2028. The market is estimated to witness a CAGR of 6.1% by 2021-2028. This information is published by Fortune Business Insights™, in its report, titled, “Vacuum Truck Market, 2021-2028.” The market is estimated to be USD 1.61 billion in 2021.
According to our researchers, vacuum trucks, also known as vacuum tankers, are frequently utilized by urban areas to manage large-scale liquefied and slush cleaning up, most usually in drainage and festering system conservation.
Key Industry Development
- March 2021 – Vac-Con has successfully launched their next generation of trailer-mounted sewer jet units under their VecJet portfolio.
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COVID-19 Impact: Decline in Manufacturing of Novel Automobiles Sales to Impede Market Growth
The global outbreak of the novel COVID-19 pandemic has had an adverse effect on the general automotive industry, especially both value & supply chain companies have been profoundly bothered owing to the prompt spread of COVID-19 across the globe. This pandemic has triggered huge indecisiveness in the industry and on account of which several automotive manufacturers had to suffer through closing down of their production divisions for specified period.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2017 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.1% |
| 2028 Value Projection | USD 2.43 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 1.57 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 135 |
| Segments covered | Types, Application and Geography |
| Growth Drivers | Drop-in New Vehicles Sales amid COVID-19 to Hamper Market Growth |
| Increasing Need for Industrial Cleaning Application to Boost Market Growth | |
| Ease in Operations and Rise in Environmental Awareness to Propel Market Development |
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Drivers and Restraints
Effortlessness in Functioning and Escalation in Environmental Consciousness to Fuel Growth
The upsurge in urban populace, escalation in waste administration and novelty in aspects to preserve human time as well as energy, coupled with concluding the anticipated task in an effective and operative method are impacting the global vacuum truck market growth.
Furthermore, various rental firms are partnering up with the producers by assisting them with the precise demand of the consumer and to structure the product as per the consumer’s preference, which eventually results in elevating the annual income of the company.
Competitive Landscape
Sturdy Portfolio of Prominent Players Aid in Dominating Market Position
The crucial players are emphasizing on emerging technologically progressive vacuum trucks. For example, KOKS U.S., has freshly manufactured this kind of truck for functioning with adulterated and dangerous materials. These trucks are regulations in DOT 407/ 412, ATEX, and ASME standards and assembled in harmony with all safety standards.
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Regional Insights
Europe held majority of the vacuum truck market share and was worth USD 0.60 billion in 2020 and is anticipated to reach USD 0.97 billion by 2028, at CAGR of 6.7% during the forecast period. The region is probable to lead the global market to the region is an automotive core, rising number of automobile production per annum in nations of the region.
North America holds the second-largest shares in the market as the increasing occurrence of rental fleet possessors and application in industrial regions. Along with sufficient sanitation guidelines in the U.S. and Canada, is accountable for the growth of the market.
List of Key Players Covered in this Market Report
- Federal Signal (Illions, U.S.)
- Vac-Con (Deerfield, U.S.)
- Keith Huber (Gulfport, U.S.)
- Sewer Equipment (Illions, U.S.)
- Vacall Industries (New Philadelphia, Ohio, U.S.)
- KOKS (North Holland, Netherland)
- Dongzheng (Suizhou, China)
- Vactor Inc (Streator, IL, U.S.)
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