The Asia Pacific Vacuum Truck Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030).
One of the key reasons influencing the demand for vacuum trucks is the rising building activity in the commercial, residential, and industrial sectors due to rapid urbanization and rising personal income levels. Additionally, the market expansion is being aided by the growing industrial cleaning industry, which includes vessels, cleaning tanks, and pipelines. Additionally, the industry is benefiting from expanding wastewater treatment facilities and raising consumer awareness of the damaging effects of contaminants.
Several governmental as well as non-governmental organizations (NGOs) are raising awareness of the negative effects of an increase in trash production. Prior to beginning any building project, they incorporate a comprehensive waste management plan and take steps to stop the illicit dumping and reuse of waste materials.
In order to increase the suction power and effectiveness of these trucks, major firms are also producing electric and autonomous vacuum trucks with cutting-edge pump technology, like air-driven pumps. This, along with the growing use of big data analytics, a GPS, the Internet of things (IoT), and augmented reality (AR) in vacuum trucks to track and manage their location, speed, and status from remote locations in real-time, is driving the market's expansion. With the help of these cutting-edge technologies, operators may collect and evaluate data from vacuum trucks to enhance vehicle performance, cut down on downtime, as well as make more informed operational choices.
According to the "13th Five-Year Ecological Environment Conservation Plan," announced in November 2016, the Chinese government raised the country's overall usage rate of industrial solid waste for solid trash to 73% by 2020. Goals in the same strategy included raising the standard of treatment for hazardous waste. This was done in response to the fact that the environment and human health were at risk due to the conventional acceptance of waste. The need for appropriate waste disposal systems in commercial settings has increased due to these initiatives. As a result, the region offers the regional market substantial growth potential.
The China market dominated the Asia Pacific Vacuum Truck Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $187.9 Million by 2030. The Japan market is registering a CAGR of 6.2% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 7.6% during (2023 - 2030).
Based on Product Type, the market is segmented into Dry & Liquid Suctioning, Liquid Suctioning, Industrial, Municipal, Excavation, General Cleaning and Others. Based on Application, the market is segmented into Industrial, Municipal, Excavation, General Cleaning and Others. Based on Fuel Type, the market is segmented into ICE and Electric. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Vacuum Truck Market is Projected to reach USD 2.4 Billion by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cappellotto Spa, Alamo Group Inc. (Rivard), Vac-Con, Inc. (Holden Industries, Inc.), Kanematsu Engineering Co., Ltd., Federal Signal Corporation, KOKS Group BV, GapVax, Inc., FULONGMA Group Co., Ltd. and Keith Huber Corporation.
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