Vacuum Truck Market Trends

Growth Drivers

• Growing Natural Gas and Oil Industry - is responsible for the rising demand for industrial vacuum trucks, as they are used to dispose water produced from hydraulic fracturing operation that occur in the oilfield. Industrial vacuum trucks are a necessity in the gas and oil industries and with the upsurge in the natural gas & oil industry the vacuum trucks market is expected to escalate further in the projected period. It was found that, the total impact of natural gas and oil industry on the GDP of United States was around USD 1.7 trillion, accounting for nearly 8 percent of the total national GDP in 2019.

• Increasing Use of Vacuum Trucks in Construction Industry – which is found to be rising in the recent years. It is projected that there will be a large amount of infrastructure demand in the next two decades and the global infrastructure investment will account for around USD 3.7 trillion per year by 2040.

• Upsurge in the Number of Commercial Aviation – where vacuum trucks are used to collect waste from airplane toilets. It is estimated that, in 2022, the global aircraft fleet have more than 25,000 aircraft in service worldwide.

• Rising Use of Portable Toilets – for instance, as per the 2020 data, there were ~3.6 million portable restrooms around the globe.

• Increasing Emission from the Food System - that are equivalent to approximately 17 billion metric tons of carbon dioxide yearly.

Challenges

• High Cost Associated with High-End Technology
• High Maintenance Cost
• Wear and Tear Usage Shortening the Life-Span of Vacuum Trucks

The global vacuum truck market is segmented and analyzed for demand and supply by application segment into industrial, municipal, chemical, and manufacturing, mining and construction. Amongst these segments, the mining segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing use of vacuum trucks to suction up the high-pressure slurry that is utilized in the mining industry along with the surge in the mining industry worldwide. For instance, it is estimated that the revenue from mining & quarrying industry in China is will reach nearly USD 850 billion in 2022.