Global Vacuum Truck Market to Reach Around USD 3,148.82 Million by 2032, Aided by rapid infrastructure development and urbanisation

The Asia Pacific accounts for a significant portion of the vacuum truck market share due to the expanding population in countries like China and India. Rapid infrastructure development in developing economies and governments’ investments in housing stimulate the market growth.

Rapid urbanisation and favourable governmental housing and public construction schemes, such as China’s Public Housing Plan and Pradhan Mantri Awas Yojana (PMAY) by the Indian government, necessitate the requirement for vacuum trucks to clean up large-scale sludge and liquid.

By 2050, 814 million people are predicted to live in urban areas in India. Four more megacities are expected to be added to India by 2030. According to industry reports, India and China alone account for more than 62% of Asian urban population growth and 40% of global urban population growth. Increasing income levels and a rapid shift to urban regions drive demand for infrastructure development, further creating opportunities for the market for vacuum truck.

Partnerships between leading companies support the market growth. In April 2023, the leading provider of safety and environmental solutions, Federal Signal Corporation (NYSE: FSS) (the "Company"), announced that it had successfully acquired nearly all of the business and assets of Trackless Vehicles Limited ("Trackless"), a well-known producer of multifunctional municipal sidewalk tractors.

Federal Signal is a prominent worldwide designer, manufacturer, and supplier of goods and complete solutions for use by commercial, industrial, governmental, and municipal clients. The company creates and supplies equipment of the highest quality that transports materials, maintains infrastructure, and safeguards the areas. The activities of Work Equipment Limited, the only trackless dealer in Southwestern and Northern Ontario, Canada, are also included in the transaction.

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Market Analysis by Product Type, Application, and Region:

• The market, on the basis of product type, can be divided into liquid suctioning only and liquid and dry suctioning, among others.

• Based on application, the market can be divided into industrial, excavation, and municipal, among others.

• The regional markets for vacuum truck include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• It is anticipated that by 2050, nearly 7 out of 10 people worldwide will reside in urban areas. Rapid urbanisation is generating demand for housing and efficient sewage systems. Additionally, the construction sector is anticipated to witness a 3.9% annual growth rate by the year 2030. The rising number of investments, particularly in emerging countries, is supporting the vacuum truck market growth.

Table: Growth Rate of Urban Population (in %), 2018-2050

• The need for vacuum trucks in cleaning and sanitisation applications in the municipal sector is rising due to the growing awareness of hygiene and cleanliness.

• The growing demand for electric vacuum trucks due to energy efficiency, the enforcement of stringent emission regulations, and the low operating costs of EVs fosters the market expansion.

• Vacuum truck plays a pivotal role in industrial cleaning applications. Cleaning industrial facilities, including factories, manufacturing plants, self-storage buildings, warehouses, and power plants, requires specialised tools and trucks.

Key Offerings of the Report:

• The EMR report gives an overview of the global vacuum truck market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, applications, and major regions of vacuum truck.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global vacuum truck market are Federal Signal Corporation, Vac-Con, Inc, Huber Corporation, Sewer Equipment, and Gradall Industries LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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