North America Vacuum Truck Market
North America Vacuum Truck Market Size to Surge Fast USD 1.8 Billion by 2028
Published | 01 November 2022
North America vacuum truck market is flourishing because of an increasing emphasis on petrochemical industry activities, surging demand for vacuum trucks, and rapid growth of urbanization and industrialization.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated North America Vacuum Truck Market size at USD 961.2 million in 2021. During the forecast period between 2022 and 2028, BlueWeave expects North America vacuum truck market size to grow at a steady CAGR of 9.7% reaching a value of USD 1,827.3 million by 2028. North America vacuum truck market is being driven by the advancing vacuum truck technology, ease of operation, and rising environmental awareness. Furthermore, due to rapid urbanization and industrialization, there is an emerging demand in towns and municipalities for vacuum trucks for a variety of functions, such as sewage cleaning, preventative maintenance, and industrial cleaning.
The petrochemical companies use vacuum trucks for emergency clean-up, offshore activities, and oil separation. However, components, high-end technology of vacuum trucks, and regular maintenance are expensive. Consequently, it may lead consumers to adopt conventional cleaning technique. This, in turn, is anticipated to hamper the growth of North America vacuum truck market.
North America Vacuum Truck Market – Overview
Vacuum truck comprises vacuum pump, inline filter, and debris collector tank designed to collect and transport waste, slurry, and large-scale sludge and liquid clean up in municipal applications. In addition, they are used in various industries, such as construction, automotive, and manufacturing. Vacuum trucks are beneficial for cleaning and disinfection of tidal ponds, tanks, and city water infrastructure through powerful hydro-exhuming and vacuum frameworks. Advanced materials, such as carbon fiber and Kevlar, are increasingly being employed in the manufacture of vacuum vehicles. As these materials are sturdy and lightweight, vacuum trucks use less gasoline and are easier to maneuver. Using sophisticated materials can help to extend the lifespan of a vacuum truck by safeguarding it from deterioration over time. Hence, North America vacuum truck market is projected to continue to rise in the coming years.
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North America Vacuum Truck Market – By Application
Based on application, North America vacuum truck market is segmented into Industrial, Municipal, Excavation, and General Cleaning. Due to industrialization and urbanization growth, in-lined waste management projects, and growing adoption for sewage cleaning trucks across the region, the industrial segment dominates North America vacuum truck market. The municipal application segment, on the other hand, is expected to grow at the highest rate during the forecast period, as key manufacturers are focusing on customization of municipal trucks, as well as an emerging requirement for cleaning municipal waste products. In the coming years, the remaining sectors, such as excavation and general cleaning, are also expected to grow in value and volume in the market.
Impact of COVID-19 on North America Vacuum Truck Market
COVID-19 pandemic had a detrimental effect on North America truck business. Because of a severe lockdown and import-export prohibition on critical raw materials in 2020 and early 2021. Consequently, the availability of crucial raw materials for vehicle components diminished. Due to the interruptions in supply chains and manufacturing schedules caused by the COVID-19 pandemic, automotive production, component suppliers, revenues, and sales also suffered setbacks, negatively impacting North America vacuum truck market, resulting in a decline in volume unit sales/production and individual revenues in 2020 and 2021. However, consistent economic growth and expanding supply chain interactions would be the primary drivers for North America vacuum truck market during the post COVID-19 pandemic era.
Major players operating in North America vacuum truck market include Federal Signal, Vac-Con, Kirkland & Ellis, GapVax, Cappellotto, Keith Huber, Sewer Equipment, Vacall Industries, KOKS, Fulongma group, Ledwell, Dongzheng, and Vactor Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product development.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics for North America Vacuum Truck Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in North America Vacuum Truck Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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