Vacuum Truck Market Size, Share & COVID-19 Impact Analysis, By Product Type (Liquid and Dry Suctioning, Liquid Suctioning Only), By Application (Industrial, Excavation, Municipal, General Cleaning, and Others), and Regional Forecast, 2022-2029

The global vacuum truck market size was valued at USD 1.16 billion in 2021. The market is projected to grow from USD 1.22 billion in 2022 to USD 1.93 billion by 2029, exhibiting a CAGR of 6.8% during the forecast period. The global impact of the COVID-19 pandemic has been unprecedented and staggering, with vacuum trucks experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 10.2% in 2020 as compared to 2019.

Vacuum trucks, also known as vacuum tankers, are often used by cities to handle large-scale liquid and sludge clean-up, most commonly in sewer and septic system maintenance. They can also be used in industrial and municipal settings to suction water and debris left from hydro-excavation or drilling jobs. From clearing mud to exposing utility lines for preventing sewer system overloads, vacuum tankers meet the needs of cities and industries requiring environmental clean-up, storage tank upkeep, and waste management.

COVID-19 IMPACT

Drop-in New Vehicles Sales amid COVID-19 to Hamper Market Growth

The sudden Coronavirus outbreak has severely impacted the automotive industry, especially both value & supply chain players. The pandemic has resulted in immense uncertainty across the industry. Many automotive manufacturers had to undergo shutting down their manufacturing plants for a stipulated period. The lockdowns resulted in a halted supply chain, particularly for raw materials from Asia, such as steel parts, machinery, and paints. This caused substantial delays in fulfilling existing orders.

Companies already faced a huge cash crunch as no new orders were there when the pandemic started; thus, the supply chain crisis further affected profit margins. The demand for automated vacuum tankers witnessed growth during the COVID-19 pandemic; it provides a contactless solution for vacuum excavation and avoids the need for a companion worker to operate manually.

Companies, such as Federal Signal and Alama Group, have seen a major decline of around 10-15% in revenue due to the COVID-19 effect. Also, the production of vacuum, excavation, and sewer trucks has been hampered or lowered during the pandemic due to a lack of raw material availability and high import taxes.

The lockdown and economic crisis induced due to the COVID-19 pandemic severely impacted the financials of truck manufacturers in 2020, with demand decreasing in some countries. For instance, British commercial vehicle production fell to -15.5% in 2020 to just 66,116 units, the lowest annual output since 1933.

Original equipment manufacturers (OEMs) and parts suppliers have yet to return to full production capacity, except a few Asian countries that have come out of the pandemic. Most of the world has experienced shattered supply chains, financially drained small and medium-sized enterprises, and reduced vehicle sales.

LATEST TRENDS

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Rapid Growth Amongst Alliance of Construction Apparatus Vendors to Augment Market Development

The broad application of these trucks promotes the growth of consumer segments, and the increasing demand for labor-efficient trucks is bringing a fundamental change to the market. Moreover, with increased alliance among construction apparatus vendors and rental fleet holders, the products are being developed and designed according to customer needs. Despite the present problems, the market is expected to recover, stakeholders are hopeful about new areas for investment, thus aiding the expansion of the market.

DRIVING FACTORS 

Increasing Need for Industrial Cleaning Applications to Boost Market Growth

Industrial vacuum tankers, also known as vacuum loaders, are commonly used worldwide for cleaning slurries, liquid, solid & dry wastages from hard areas. These trucks are developed and designed from the input of consumers to tackle the most challenging dry or wet industrial liquids sludge or slurry cleaning applications. Moreover, multiple companies operating in the market are taking an active step to grow their industrial vacuum truck business by adopting various strategies.

For instance, in North America, Hydrovacs sales have seen significant growth for construction applications. Moreover, these trucks break up the soil with high-pressure water while the powerful vacuum system removes the debris into the debris tank. In addition, increasing safety of such vehicles and rising development in developing countries are propelling the market's growth. Furthermore, numerous models, choices, and offloading solutions are accessible to ensure the finest fit for the cleaning applications. Thus, all these parameters contribute to the vacuum truck market growth.

Ease in Operations and Rise in Environmental Awareness to Propel Market Development

The increase in urban population, rise in waste management and innovation in the features to save human time & energy, and completing the desired task in an efficient and effective manner are affecting the growth of the global market. Moreover, the rental companies collaborate with the manufacturers by helping them fulfill the exact requirement regarding the product's design as per the customer’s preference, which ultimately results in raising the revenue for the business.

Moreover, advancements such as customized vacuum trucks, 90-degree rotational ability, lightweight but heavy-duty components for the construction & manufacturing of vacuum trailers, and less dependence on other machines owing to stability, reliable & safe withstand are propelling the demand for several end-use applications-based vacuum trucks in the global market. Further, the implementation of waste management practices in logistics, construction, agriculture, and other sectors coupled with governments' active steps toward environment waste management awareness is expected to strengthen the demand for these trucks.

RESTRAINING FACTORS

Huge Demand for Labor-Efficient Trucks Can Restrain Industry Growth

One of the key challenges faced by the market currently is the restraint of the downstream market. With a large demand for efficient vehicles and trucks or vehicles abroad and at home, various key players began to come into the labor-efficient vacuum tanker sector. Also, limitation in the downstream market is expected to hinder the market's growth.

Additionally, reduced production capacity after the initial lockdown in 2020, the semiconductor shortage in 2021, and the high cost associated with the service and manufacturing of such trucks collectively have hampered the growth of the global vacuum truck industry. The decline in demand & supply is expected to restrict the expansion of the market.

SEGMENTATION

By Product Type Analysis

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Liquid & Dry Suctioning Product Dominates Market Owing to its Rising Adoption in Industrial Applications

Based on product type, the market is segmented into liquid & dry suctioning and liquid suctioning only.

Liquid & dry suctioning holds the largest share globally. The liquid suctioning only segment will witness high CAGR during the forecast period due to predicted rising water management projects and water plants and initiatives to preserve water across the globe. Moreover, rising liquid-based suctioning in industrial, commercial, and oil industries will help to significantly grow their business in the coming years.

The liquid & dry suctioning segment will have low growth & high penetration. Additionally, the liquid & dry suctioning segment accounted for 57.3% market share in 2021. The Liquid suctioning-only segment has high growth and low market penetration.

By Application Analysis

Industrial Application Segment to Hold Largest Market Share Attributable to Rising Demand for Trucks

Based on application, the market is segmented into industrial, excavation, municipal, general cleaning, and others.

The industrial segment is anticipated to hold maximum market share globally. The dominance can be attributed to various factors, including rapid growth in the industrial sector across developing & developed countries. There is an increasing need for trucks. Furthermore, the municipal segment is also expected to hold the second-largest share in the market as there is an increasing need for cleaning municipal waste materials. Excavation and general cleaning segments are also expected to hold a significant market share during the forecast period at a considerable CAGR.

REGIONAL INSIGHTS

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Europe stood at USD 0.47 billion in 2021 and is projected to reach USD 0.67 billion by 2029, grow at a CAGR of 4.8% over the forecast period. The region is likely to dominate the global market as an automotive hub due to an increasing number of vacuum truck production per year in the European countries. This growth is attributed to the rapid increase in urbanization, improvement in the standard of living, and increasing adoption of these trucks in industrial applications. Moreover, increasing adoption of strong governmental initiatives and ongoing water treatment projects are likely to boost the growth of the market in the region during the forecast period.

North America holds the second-largest position in the market with the rising prevalence of rental fleet owners and applications in industrial areas. Adequate cleaning policies in the U.S. and Canada is responsible for the growth of a market.

The market in Asia Pacific is anticipated to show a healthy growth rate due to increasing demand for industrial slurry and sludge removal operations across the region. The region is an automotive hub due to increasing vehicle production per year in Asian countries. The growing adoption of vital governmental initiatives and rising use of electric vehicles & autonomous vehicles are expected to promote the development of the market in the region during the forecast period.

KEY INDUSTRY PLAYERS

Strong Portfolio of Key Players to Assist in Leading Market Growth

The vacuum truck market share is consolidated owing to the strong product portfolio and noteworthy distribution network of major companies in developed & developing countries.

The key players are focusing on developing technologically advanced vehicles. For instance, KOKS U.S. produces vacuum trucks that can work in contaminated and hazardous substances. These trucks are available in DOT 407/ 412, ASME, and/or ATEX standards and built according to all safety standards.

LIST OF KEY COMPANIES PROFILED:

• Federal Signal (U.S.)


• Vac-Con (U.S.)


• Keith Huber (U.S.)


• Sewer Equipment (U.S.)


• Vacall Industries (U.S.)


• KOKS (Netherland)


• Dongzheng (China)


• Vactor Inc (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• March 2022 – Vac-Con, Inc. announced the acquisition of assets of PEIRCE-EAGLE EQUIPMENT COMPANY. The acquisition is likely to assist the company in expanding its footprints.


• March 2021 – Vac-Con has successfully launched their next generation of trailer-mounted sewer jet units under their VecJet portfolio. Consumers can select 375 gallon or 750-gallon water capacity engine with Gas and diesel as fuel options.


• April 2020 –Vactor introduced IMPACT combination sewer cleaner with a compact design for easy maneuverability in tight, confined spaces. It is an economical choice for small-scale applications.

REPORT COVERAGE

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The market research report provides a detailed global vacuum truck industry analysis and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the market's growth in recent years.

Report Scope & Segmentation