Automotive & Transportation

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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Report ID: 4422 | Published On: Nov 18, 2022

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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. Purchasing 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.

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

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Key Questions Answered in the Report

1) What are the major factors driving the growth of the vacuum truck market?

Ans: Increasing amount of waste water as well as upsurge in the number of water treatment plants along with developing oil & gas industry, and other industries are some of the major factors anticipated to drive the growth of the market.

2) What would be the CAGR of vacuum truck market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the vacuum truck market growth?

Ans: High cost associated with high-end technology as well as high maintenance cost of vacuum trucks are some of the factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of vacuum truck market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the vacuum truck market?

Ans: The major players in the market are Federal Signal Corporation, Khimji Ramdas, Vac-Con, Inc., Kanematsu Engineering Co., Ltd., Koks Group Holding bv, Keith Huber Corporation, Gradall Industries, Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the vacuum truck market?

Ans: The market is segmented by product type, material type, application, and by region.

8) Which segment captures the largest market size in application segment in the vacuum truck market?

Ans: The mining segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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