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 amount of waste produced annually is significantly impacted by the increasing industrialization and urbanization taking place throughout the world. According to the World Bank, more than 2.24 billion tons of municipal solid waste are created each year. The Municipal segment would register 1/4th share in the market by 2030, due to the growing need for effective waste management solutions. As an illustration, the Environmental Protection Agency (EPA) declared in November 2021 that it would invest around USD 375 million in recycling and waste reduction programs, making it one of the largest investments in US waste management systems. The funds would be used to launch several new state and municipal programs like the Solid Waste Infrastructure for Recycling Program and the Recycling Education and Outreach Grant Program to combat pollution and inefficient waste management. Some of the factors impacting the market are the requirement of more industrial cleaning applications, increasing environmental awareness, and problems with vacuum trucks in some ground formations.
To clean regions in industrial facilities, including factories, manufacturing plants, self-storage facilities, warehouses, and power plants, specialized tools and trucks are needed. Cleaning is required for plumbing systems and drains in small companies and huge industrial enterprises. In a building, drain blockages can lead to erosion that destroys pipes, and major backups can create breakdowns that require expensive repairs. To handle the most difficult cleaning applications, these vehicles are conceived and manufactured according to client/consumer needs. Moreover, Industrial facilities, industries, and construction sites create or use hazardous substances. The chemicals are subsequently exposed to rain, resulting in direct or indirect entry into streams, lakes, rivers, and soil. This is a major contributing element to the rise of industrial water pollution. Certain characteristics limit the exposure to the risks associated with certain materials, promoting a healthier atmosphere. As a result, the market is expanding rapidly due to the increasing need for these trucks in industrial cleaning and severe government regulations and laws placed on many businesses to promote environmental awareness.
However, using a vacuum truck on some ground formations reveals its limitations. If used incorrectly, it might result in extra water removal expenditures rather than backfill costs. In the worst-case scenarios, it might even cause a building to lose its structural integrity by dragging materials into an already-existing hole. When the material merely enters the hole from the bottom, it may occasionally appear that the hole has collapsed. This mistake could make people panic, prompting them to make unneeded corrections and incur unexpected costs. Hence these limitations of these truck usage may further hamper the expansion of the market.
By fuel type, the market is divided into electric and ICE. The ICE segment witnessed the maximum revenue share in the market in 2022. A wide variety of jobs can be completed by vacuum trucks with IC engines, including the removal of liquid and solid waste, sewer cleaning, hydro excavation, and industrial cleaning. They are useful in many different applications owing to their adaptability, which makes them a significant asset for many different businesses. IC engines have enough power to operate the vacuum pump, allowing the vehicle to produce a powerful suction force.
Based on product type, the market is characterized into dry & liquid suctioning and liquid suctioning. The dry & liquid suctioning segment garnered the highest revenue share in the market in 2022. The expansion of residential construction projects and their waste management is driving the growth of the liquid and dry suctioning segment. Most industries prefer vacuum trucks that can handle both solid and liquid waste. Additionally, the production of vacuum trucks is aggressively pursuing innovations in liquid and dry suction vehicles, which will increase demand for the market in the upcoming years.
On the basis of application, the market is classified into industrial, excavation, municipal, general cleaning, and others. The municipal segment recorded a significant revenue share in the market in 2022. The growing metropolitan population and the influx of interest in robust but untested waste administration systems are anticipated to support the growth of the commercial center. Sewer systems, catch basins, and storm drains are frequently cleaned and maintained using vacuum trucks. In order to ensure smooth wastewater flow and avoid any environmental risks, they are able to eliminate debris, sediment, and various other materials that could lead to blockages and flooding.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.5 Billion |
| Market size forecast in 2030 | USD 2.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.4% from 2023 to 2030 |
| Number of Pages | 206 |
| Number of Table | 349 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product Type, Application, Fuel Type, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured the highest revenue share in the market in 2022. Given that more of these trucks are being produced each year in regional nations. Rapid urbanization, a rise in the level of living, and an increase in the use of these trucks in industrial settings are all factors contributing to the increased demand for these vehicles. Additionally, the region's market is expected to increase throughout the projected period due to the increasing implementation of powerful government programs and ongoing water treatment projects.
Free Valuable Insights: Global Vacuum Truck Market size to reach USD 2.4 Billion by 2030
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
By Geography
The Market size is projected to reach USD 2.4 billion by 2030.
Requirement of more industrial cleaning applications are driving the Market in coming years, however, Problems with vacuum trucks in some ground formations restraints the growth of the Market.
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.
The Industrial segment is generating the highest revenue in the Market by Application in 2022; thereby, achieving a market value of $907.1 Million by 2030.
The Europe region dominated the 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.
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