Vacuum Excavator Market: Driving Growth with 6.3% CAGR

Posted 2024-05-07 19:00:02

In the recently released study, Fact.MR has offered comprehensive details regarding the pricing points of major Vacuum Excavator manufacturers positioned throughout geographies, sales growth, manufacturing capacity, and speculative technological advancement.

Fact.MR: A Supplier of Competitive Intelligence and Market Research: The global vacuum excavator market is predicted to reach a valuation of US$ 803.5 million in 2023 and is anticipated to rise at a CAGR of 6.3% over the forecast period of 2023–2033, according to Fact.MR, a supplier of competitive intelligence and market research.

Vacuum excavation is a non-destructive digging technique that increases worker safety on site. Additionally, it is more cost-effective and ecologically friendly than conventional digging equipment or methods. Vacuum excavators, sometimes known as industrial cleaning trucks, are used to transport slurries, solids, dry powder, and thick muck from hard-to-reach regions.

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Traditional digging processes are time-consuming and sometime spendthrift. Tradition digging process involves human activity which increases the chances of error and can sometimes cause damage to the pipe. The use of vacuum excavators in digging helps in overcoming these challenges.

The aforementioned factors are creating immense growth opportunities for the market players and are likely to enhance the sales of vacuum excavators.

Key Takeaways from Market Study

The global vacuum excavator market is projected to grow at 6.3% CAGR and reach US$ 1,516.5 million by 2033.
Construction application is poised to grow with a CAGR of 6.2% and reach a market valuation of US$ 580.9 million by 2033 and create an absolute dollar opportunity of US$ 285.1 million.
East Asia is growing with a CAGR of 6.4% and will expand 1.9X times during the forecast period.
Heavy vacuum excavator is estimated to gain ~82.6 BPS.
Under tank capacity, the 3,000 TO 6,000 L segment is expected to dominate the market with a 35.8% market share in 2033.

Competitive Landscape

Prominent vacuum excavator manufacturers are

Badger Daylighting
Hitech Industrial Services
Ring-O-Matic
SEWER EQUIPMENT
Super Products
Vermeer
Vactor Manufacturing

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Key players are concentrating on organic business growth. This is accomplished by emphasizing overhead savings, regional expansion, and product portfolio diversification. Companies are pursuing price optimization and maintaining strategic customers in emerging areas.

Players are paying more attention to noise levels. A vacuum excavator is not a quiet piece of equipment. Getting the noise level down improves operator comfort and minimizes the disturbance when working near homes and businesses.

In August 2021, Super Products introduced a new vacuum truck named Mud Dog 700. This vacuum truck is compact, and versatile and has a 7-yard debris body and a 600-gallon water tank. Mud Dog Vacuum Excavators are built to withstand the demands of a wide range of applications, from small-scale urban projects to large-scale excavation, potholing, and trenching jobs.

Market Development

Manufacturers are offering the replacement of old parts and accessories so that the overall cost of product replacement can be reduced. The majority of manufacturers are offering rental services due to high product and operation costs, which limits users from purchasing these machines.

For instance, manufacturers such as Vermeer and Vactor are top rental companies for vacuum excavators, providing rental offerings to consumers. Vacuum excavator rental programs provide a steady source of asset finance and cost-benefit analysis, and they benefit both, enterprises and customers.

Segmentation of Vacuum Excavator Industry Research

By Type :

Hydro
Air

By Material Sucked :

Liquid Suctioning Only
Dry Suctioning Only
Liquid and Dry Suctioning

By Mounting :

Trailer mounted
Truck mounted

By Size :

Mini/Compact
Standard/ Full Size
Heavy

By Application :

Construction

Residential & Commercial Construction
Infrastructure Construction
Road Construction

Mining
Utility & Municipal

By Tank Capacity :

Up to 1,000 L
1,000 TO 3,000 L
3,000 TO 6,000 L
6,000 TO 10,000 L

By Suction Capacity :

500 -1500 CFM
1500- 3000 CFM
3000- 4500 CFM
4500- 6000 CFM
6000- 7000 CFM

By Engine Capacity :

20-60 HP
60-100 HP
100-140 HP
140-180 HP
180- 200 HP

By Region :

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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What differences can the vacuum excavator market report make on the revenue impacts and strategies of businesses?

Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the vacuum excavator market and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:

Attractiveness quotient of emerging product/technology types in various products in the vacuum excavator market
Micro-economics factors that may hamper the prospects of some of the key segments
Recent spate of research and development (R&D) funding on key vacuum excavator markets
New business models paving way for disruptions in demand dynamic of key segments
Regional markets that will be future engine of growth and the industry trends that will support these markets
Challenges overcoming which may offer industry players competitive edge