A vacuum truck, also known as vacuum loader or vacuum tanker, is a tank truck with a heavy duty vacuum designed to pneumatically load solids, liquids, sludge or slurry through suction lines typically 2-4″ in diameter with 3″ being the norm and then transport the load to an appropriate place for disposal or re-use.
The global vacuum truck industry mainly concentrates in North America and Europe in terms of market value. The global leading player in this market is Federal Signal, whose revenue is $ 1148.82 million in 2017, accounts for 13.03% of total revenue market.
The vacuum truck is mainly used in industrial, excavation and municipal field. The application market share of industrial and excavation is up to 64% in 2017 and it is forecasted that share will be maintain by 2023 with the increasing collaboration among rental fleet owners and vacuum truck manufacturers.
Currently, a major challenge affecting the market growth is the limitation of downstream market. As large demand of labor-efficient vehicles at home and abroad, many companies began to enter the field of labor-efficient vacuum truck industry.
The widely application of vacuum truck promote the growth of customer segments and the rising demand for labor-efficient vehicles is bringing a radical change to the vacuum truck market. With increased collaboration among construction equipment manufacturers and rental fleet owners, the products are being designed as per the customer need. The rental companies form a large customer segment for the vacuum truck market. Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area and the future will still have more new investment enter the field. In the next five years, the consumption volume will keep slow increasing, as well as the consumption value.
According to this study, over the next five years the Vacuum Truck market will register a 3.9% CAGR in terms of revenue, the global market size will reach US$ 1450 million by 2024, from US$ 1150 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Vacuum Truck business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Vacuum Truck market by product type, application, key manufacturers and key regions and countries.
This study considers the Vacuum Truck value and volume generated from the sales of the following segments:
Global Vacuum Truck Market report features the major aspect of the market in terms of historic data, current market situations, market demand along with detailed analysis of the key players involved in the market.Vacuum Truck Industry report also provides essential attributes associated with Vacuum Truck market and act an essential tool to companies active across the value chain and to the newcomer by enabling them to capitalize the opportunities and develop business strategies.
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Global Vacuum Truck Market focuses on the, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.Vacuum Truck business report categorizes the market based on manufacturers, regions, type and application. From a global perspective, this report represents Vacuum Truck market in-depth outlook by analyzing historical statistics and future prospect.
TOP MOST PLAYERS:
Market Segment by Type, covers:
Liquid Suctioning Only
Liquid and Dry Suctioning
Market Segment by Applications, can be divided into:
The prospective of this Vacuum Truck industry study delivers the key industry dynamic with respect to driving & limiting factors with their current and expected impact on market growth. Moreover, Vacuum Truck present market share and future prospects of the segment in terms of has also been explored in this report.
Global Vacuum Truck market report showcases qualitative and quantitative estimation by industry analysts, first-hand data, and assistance from industry experts along with each industry manufacturers by the market valuation. Vacuum Truck report also gives extensive analysis of market share, latest industry trends and forecast data analysis with respect to sales revenue, market growth, and demand and supply scenario.
Conclusively, the Vacuum Truck Market report provides major statistics on the state of the industry also it is considered as an essential source of guidance and direction for businesses and individuals involved in the market.