Vacuum Truck Market size is expected to reach USD 5,382.8 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. The heavy demand for labor-efficient trucks is expected to foster healthy growth of the market
Vacuum Truck Market size is expected to reach USD 5,382.8 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. The heavy demand for labor-efficient trucks is expected to foster healthy growth of the market
Fortune Business Insights, in a report, titled “Vacuum Truck Market Size, Share & COVID-19 Impact Analysis, By Product Type (Liquid Suctioning Only and Liquid and Dry Suctioning), By Application Type (Industrial, Excavation, Municipal, Sweeper Truck, and Others) and Regional Forecast, 2020-2027” the market size stood at USD 2,303.7 million in 2019.
The coronavirus occurrence has caused severe loss and damage to industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
The report on the vacuum truck market contains:
- All-encompassing study of vacuum trucks
- Enlightening information about the industry
- Strategies and key insights
- Coronavirus effect on the market
- Dominant regions in the industry
Market Driver:
Necessity for Vacuum Trucks in Industrial Applications to Augment Growth
The growing requirement for industrial vacuum trucks or vacuum loaders that contain, recover, and carry slurries, liquids, solids, dry bulk powders, and thick mud from hard-to-reach areas will spur demand for these trucks in industries. The rising application of trucks in cleaning and sanitization will create lucrative business opportunities for the market. For instance, trucks are designed and customized to carry dry waste or wet industrial liquid sludge or slurry to treatment plants. The off-loading solutions offered by the trucks can ensure swift operation in cleaning applications.
Break on Production to Impede Business Development in COVID
The automotive sector is witnessing enormous loss due to the restriction imposed by the government during the pandemic. The decline in demand and supply is expected to limit the expansion of the vacuum truck market. The halt on production plants in various countries can further restrict the growth of the market. Similarly, due to lockdown, the showrooms are shut leading to low footfalls, thus aggravating the situation of the market during the COVID-19 pandemic.
Regional Analysis:
Implementation of Strict Cleaning Policies to Boost Market in North America
The market size in North America stood at USD 741.5 million in 2019. The growth in the region is attributed to the strict cleaning policies in the U.S and Canada. The growing popularity of rental fleet owners and applications in industrial areas will spur opportunities for the market in the region. Europe is expected to witness a substantial growth rate during the forecast period owing to the massive automobile production in the UK, Germany, and France. The market in Asia Pacific is predicted to rise exponentially during the forecast period owing to the surge in municipal and industrial slurry and sludge in countries such as India and China. The rising urbanization and industrialization will influence the healthy growth of the market in Asia Pacific.
Key Development:
June 30, 2020: KOKS, a major manufacturer of these trucks and heavy industrial cleaning equipment unveiled a range of high-pressure units. The wide-ranging hot water units can operate a pressure of 15 to 1,000 bar
List of the Leading Companies Operating in the Vacuum Truck Market are:
- Federal Signal (Illinois, United States)
- Vac-Con (United States)
- Keith Huber (United States)
- Sewer Equipment (Illinois, United States)
- Vacall Industries (United States)
- KOKS (Netherlands)
- Dongzheng (China)
- Other Players
Browse Summary of this Research Report with Detailed Table of Content:
https://www.fortunebusinessinsights.com/vacuum-truck-market-103435
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Vacuum Truck Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Liquid Suctioning Only
- Liquid and Dry Suctioning
- Market Analysis, Insights and Forecast – By Application Type
- Industrial
- Excavation
- Municipal
- General Cleaning
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
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