Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Vacuum Truck Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global vacuum truck market achieved a total worth of USD 1434.5 million in 2022, ultimately reaching a market value of USD 2296.54 million by 2028.
With the surging need for effective waste management and sanitation services worldwide, the market is poised for substantial growth, projected to attain a CAGR of 8.0% from 2023 to 2028.
Vacuum trucks, alternatively known as vacuum tankers or vac trucks, serve the crucial purpose of collecting, transporting, and disposing of liquid waste, sewage, and sludge. Featuring a vacuum pump and a tank, these specialized vehicles are engineered to handle a wide range of materials, including hazardous substances, ensuring the safe and efficient management of waste materials.
The escalating demand for proficient waste management services is a primary driver propelling the global vacuum truck market's growth trajectory. The rapid pace of urbanization and industrialization has led to a substantial upsurge in waste generation, compelling the need for efficient waste management and sanitation solutions. Vacuum trucks play a pivotal role in handling liquid waste and upholding urban cleanliness standards, thus significantly contributing to the expansion of the market.
Moreover, a noteworthy trend bolstering the demand for vacuum trucks in the market is the heightened emphasis on environmental preservation and sustainability. Governments and environmental organizations are increasingly underscoring the significance of proper waste management practices to mitigate pollution risks, reduce disease transmission, and safeguard precious natural resources. Consequently, there is a growing requirement for vacuum trucks to ensure secure and environmentally friendly waste disposal methods.
Furthermore, stringent governmental regulations and policies pertaining to waste management and sanitation practices are also serving as catalysts for the market's growth. Several nations have implemented rigorous regulatory frameworks to ensure the proper management of waste materials, thereby driving the demand for vacuum trucks in both developed and emerging economies.
The global expansion of construction and infrastructure projects further augments the market's growth trajectory. These large-scale projects often generate substantial volumes of liquid waste, necessitating the utilization of vacuum trucks for efficient waste disposal. Additionally, the thriving oil and gas industry, reliant on vacuum trucks for the management of drilling waste and other liquid byproducts, significantly contributes to the expanding footprint of the vacuum truck market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 154 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1563.6 Million |
| Forecasted Market Value (USD) by 2028 | $2296.54 Million |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
Market Dynamics
- SWOT Analysis
- Porter's Five Forces Analysis
- Key Indicators for Demand
- Key Indicators for Price
Competitive Landscape
- Company Overview
- Product Portfolio
- Demographic Reach and Achievements
- Certifications
- Federal Signal Corporation
- Vac-Con, Inc
- Huber Corporation
- Sewer Equipment
- Gradall Industries LLC
Market Segmentation
Market Breakup by Product Type
- Liquid Suctioning Only
- Liquid and Dry Suctioning
- Others
Market Breakup by Application
- Industrial
- Excavation
- Municipal
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/2m4mcq
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