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Vacuum Truck Market Analysis by Product Type (Liquid Vacuum Trucks, Combination Vacuum Trucks, and Industrial Vacuum Loaders); by Material Type (Hazardous and Non-hazardous); by Application (Industrial, Municipal, Chemical, Manufacturing, Mining and Construction) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Koks Group Holding bv - the European Patent Office permitted KOKS Robotics no-man-entry tank cleaning robot invention for the European Union.
  • Vac-Con, Inc., (Holden Industries, Inc.) - announced the acquisition of all assets and operations of Eagle Equipment, Inc., (DBA) Peirce-Eagle Equipment (Peirce-Eagle) with two locations in Goshen, New York and Branchburg, New Jersey.

Global Vacuum Truck Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

 ~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 4 Billion

The global vacuum truck market is estimated to garner a revenue of ~USD 4 billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 billion in the year 2022. The growth of the market can primarily be attributed to the increasing volume of wastewater from households flowing into septic tanks or cesspools along with growing use of vacuum truck worldwide by waste management companies to empty them. It was estimated that, ~359 billion cubic metres of wastewater are produced globally every year.

Vacuum-Truck-Market

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Vacuum trucks are capable of moving large amounts of both hazardous and non-hazardous materials and is a vital tool for the environmental services industry. Vacuum trucks are highly versatile, and are often used by cities to handle large-scale liquid and sludge clean up, to suction water and debris left from hydro-excavation or drilling jobs and others. They can also be used in industrial settings, with uses in industries ranging from oil and gas terminals to manufacturing, farms, food-grade facilities, powerplants and others.  With higher rate of urbanization as well as rising gross domestic product (GDP) along with increasing number of municipal wastewater treatment plants, there is a surge in higher per capita sludge production. The demand for vacuum trucks is on the rise amongst the municipal service providers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global vacuum truck market during the forecast period. For instance, there were over 5400 municipal wastewater treatment plants operating in China, leading to an annual sludge productivity of ~39 million tons in 2019.

Global Vacuum Truck Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Natural Gas and Oil Industry - is responsible for the rising demand for industrial vacuum trucks, as they are used to dispose water produced from hydraulic fracturing operation that occur in the oilfield. Industrial vacuum trucks are a necessity in the gas and oil industries and with the upsurge in the natural gas & oil industry the vacuum trucks market is expected to escalate further in the projected period. It was found that, the total impact of natural gas and oil industry on the GDP of United States was around USD 1.7 trillion, accounting for nearly 8 percent of the total national GDP in 2019.
  • Increasing Use of Vacuum Trucks in Construction Industry – which is found to be rising in the recent years. It is projected that there will be a large amount of infrastructure demand in the next two decades and the global infrastructure investment will account for around USD 3.7 trillion per year by 2040.
  • Upsurge in the Number of Commercial Aviationwhere vacuum trucks are used to collect waste from airplane toilets. It is estimated that, in 2022, the global aircraft fleet have more than 25,000 aircraft in service worldwide.
  • Rising Use of Portable Toilets – for instance, as per the 2020 data, there were ~3.6 million portable restrooms around the globe.
  • Increasing Emission from the Food System - that are equivalent to approximately 17 billion metric tons of carbon dioxide yearly.

Challenges

  • High Cost Associated with High-End Technology
  • High Maintenance Cost
  • Wear and Tear Usage Shortening the Life-Span of Vacuum Trucks

The global vacuum truck market is segmented and analyzed for demand and supply by application segment into industrial, municipal, chemical, and manufacturing, mining and construction. Amongst these segments, the mining segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing use of vacuum trucks to suction up the high-pressure slurry that is utilized in the mining industry along with the surge in the mining industry worldwide. For instance, it is estimated that the revenue from mining & quarrying industry in China is will reach nearly USD 850 billion in 2022.

Global Vacuum Truck Market Regional Synopsis

Regionally, the global vacuum truck market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033, backed by the presence of a giant chemical industries in the region, growing number of pharmaceutical industries as well as increasing shipment of chemicals. For instance, the value of chemical shipment in United States in 2021 was about USD 765 billion, including the pharmaceutical sector.

Vacuum-Truck-Market-Size

The global vacuum truck market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global vacuum truck market includes the following segments:

By Product Type

  • Liquid Vacuum Trucks
  • Combination Vacuum Trucks
  • Industrial Vacuum Loaders

By Material Type

  • Hazardous
  • Non-hazardous

By Application

  • Industrial
  • Municipal
  • Chemical
  • Manufacturing
  • Mining
  • Construction
 
Top Featured Companies Dominating the Global Vacuum Truck Market
  • Koks Group Holding bv
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Vac-Con, Inc.
  • Kanematsu Engineering Co., Ltd.
  • Federal Signal Corporation
  • Khimji Ramdas
  • Keith Huber Corporation
  • Gradall Industries, Inc.
  • Sewer Equipment Company of America
  • Fulongma Group Co., Ltd.
  • GapVax, Inc.

 

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