Vacuum Truck Market will exhibit a CAGR of 11.2% during the forecast period, and USD 5,382.8 million by 2027, and the Market value as per 2019 was USD 2,303.7 million.
Fortune Business Insights™ in a new report, titled, “Vacuum Truck Market Size, Share & Industry Analysis, By Product Type (Liquid Suctioning Only and Liquid and Dry Suctioning), By Application Type (Industrial, Excavation, Municipal, Sweeper Truck, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2020-2027.”
Vacuum Truck Market Drivers and Restraint:
Necessity for Vacuum Trucks in Industrial Applications to Augment Growth
The growing requirement for industrial vacuum trucks or vacuum loaders that contain, recover, and carry slurries, liquids, solids, dry bulk powders, and thick mud from hard-to-reach areas will spur demand for these trucks in industries. The rising application of trucks in cleaning and sanitization will create lucrative business opportunities for the market. For instance, trucks are designed and customized to carry dry waste or wet industrial liquid sludge or slurry to treatment plants. The off-loading solutions offered by the trucks can ensure swift operation in cleaning applications.
Break on Production to Impede Business Development in COVID
The automotive sector is witnessing enormous loss due to the restriction imposed by the government during the pandemic. The decline in demand and supply is expected to limit the expansion of the vacuum truck market. The halt on production plants in various countries can further restrict the growth of the market. Similarly, due to lockdown, the showrooms are shut leading to low footfalls, thus aggravating the situation of the market during the COVID-19 pandemic.
List of Key Players Covered in the Vacuum Truck Market Report:
- Federal Signal (Illinois, United States)
- Vac-Con (United States)
- Keith Huber (United States)
- Sewer Equipment (Illinois, United States)
- Vacall Industries (United States)
- KOKS (Netherlands)
- Dongzheng (China)
- Other Players
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/vacuum-truck-market-103435