The Latin America, Middle East and Africa Vacuum Truck Market would witness market growth of 9.6% CAGR during the forecast period (2023-2030).
Given the serious environmental repercussions that openly dumped waste might have, the demand for cutting-edge waste disposal techniques is projected to grow throughout these locations. In addition, over the past few years, construction expenditure for smart city initiatives has expanded dramatically. Governments, especially those in developing and emerging markets, are making significant investments in building the infrastructure for smart cities.
The development of novel vacuum truck models created for particular uses, the creation of new truck-mounted vacuum units, and the use of cutting-edge materials in vacuum truck construction are a few of the major trends in vacuum truck technology. More and more modern materials, including carbon fiber and Kevlar, are being employed to make vacuum vehicles. Vacuum trucks are more maneuverable and fuel-efficient because of the strength and lightness of these materials. Additionally, by preventing wear and tear, modern materials can increase the lifespan of a vacuum truck.
Bolivia, which has the greatest lithium deposits of any nation in the world, is looking to profit from these resources. In addition, according to the International Trade Administration, Comibol, the state-owned mining firm of Bolivia, plans to treble its tin production from 2022 in response to rising tin prices internationally and growing worldwide demand. The Saudi Arabian Vision 2030 strategy was incorporated into the SIDF's mandate in 2019, allowing it to promote emerging and promising industries like mining, energy, as well as logistics. Therefore, the expansion of various regional industries is responsible for the market's growth.
The Brazil market dominated the LAMEA Vacuum Truck Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $40.3 Million by 2030. The Argentina market is showcasing a CAGR of 10.2% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 9.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
By Product Type
By Application
By Fuel Type
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