Published Date: 30-Aug-2023
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According to a new report, published by KBV research, The Global Vacuum Truck Market size is expected to reach $2.4 billion by 2030, rising at a market growth of 6.4% CAGR during the forecast period.
The Liquid Suctioning segment is registering a CAGR of 8% during (2023 - 2030). The market is expanding as a result of initiatives to monitor water quality as well as commitments made by the board to enhance water infrastructure. Furthermore, expanding fluid-based suctioning in contemporary commercial and oil exploration will fundamentally improve their corporate relationship sooner rather than later.
The Industrial segment is generating the highest revenue in the Global Vacuum Truck Market by Application in 2022; thereby, achieving a market value of $907.1 Million by 2030. The dominance can be due to several things, including the swift development of the industrial sector in industrialized and developing nations. These vehicles are used by many different industries to control wastewater and sludge produced by industrial processes. These variables will boost market expansion. Hazardous materials and byproducts are frequently produced during industrial processes, and they must be carefully managed and disposed of to adhere to environmental standards.
The Electric segment would showcase a CAGR of 8.9% during (2023 - 2030). Air pollution and greenhouse gas emissions are decreased by electric engines, which have zero tailpipe emissions when in use. This contributes to the fight against climate change and helps to improve local air quality. When a vacuum truck operates, less noise pollution is produced since electric engines are quieter than diesel engines.
The Europe region dominated the Global Vacuum Truck Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $845 Million by 2030. The Asia Pacific market is anticipated to grow at a CAGR of 6.9% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/vacuum-truck-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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