Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The "Global Vacuum Truck Market Report and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
According to this latest report the global vacuum truck market attained a value of USD 1,290.0 million in 2021. Aided by the increasing utilisation of the product in the municipal sector, the market is projected to further grow at a CAGR of 8.2% between 2022 and 2027 to reach a value of USD 2,123.3 million by 2027.
Vacuum truck refers to a self-contained large industrial vehicle which is capable of pumping liquid and semi-solid materials. The storage capacity of these trucks can vary between 3000 to 5000 gallons. These trucks can remove materials from underground or overhead.
The key components of vacuum truck include suction hoses and shutoff valves, which suck up liquids and sludges, thereby purifying a territory or an area. A ton of waste is generated across industries such as automotive, manufacturing, and construction, among others, which can pose a great harm to the environment. Hence, the product is witnessing a high demand in these industries. Furthermore, the truck offers enhanced safety, versatility, and convenience.
The deployment of vacuum trucks for removing sludges and dust while promoting operator safety is increasing. The rising demand for these trucks for infrastructure maintenance, sewer and septic maintenance, and general cleaning is propelling the market growth.
Over the forecast period, the anticipated increase in the deployment of vacuum trucks in industrial and municipal settings for removing water and debris left post-drilling or hydro-excavation is likely to contribute to the market growth. Moreover, the growing emphasis on mechanical sweeping is leading to progressive product innovations. In addition, the growing research and development activities by the leading vacuum truck providers to develop simplified designs with high power and excellent payload capacity are anticipated to provide impetus to the market in the coming years.
In terms of region, the Asia Pacific accounts for a significant share of the market owing to increasing infrastructure development activities across emerging economies such as India and China. Furthermore, the stringent government regulations pertaining to environmental protection and conservation of natural resources, such as the green norms introduced by the National Green Tribunal (NGT) of India, are likely to accelerate the market growth in the forecast period.
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments of the key market players. Some of the major players in the market explored in the report are:
- Federal Signal Corporation
- Vac-Con, Inc
- Huber Corporation
- Sewer Equipment
- Gradall Industries LLC
- Others
Key Topics Covered:
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Vacuum Truck Market Analysis
8.1 Key Industry Highlights
8.2 Global Vacuum Truck Historical Market (2017-2021)
8.3 Global Vacuum Truck Market Forecast (2022-2027)
8.4 Global Vacuum Truck Market by Product Type
8.4.1 Liquid Suctioning Only
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Liquid and Dry Suctioning
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Others
8.5 Global Vacuum Truck Market by Application
8.5.1 Industrial
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Excavation
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Municipal
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Others
8.6 Global Vacuum Truck Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Federal Signal Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Vac-Con, Inc
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Huber Corporation
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Sewer Equipment
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Gradall Industries LLC
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
For more information about this report visit https://www.researchandmarkets.com/r/h5sxc0
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