Vacuum Excavator Companies Received Improved Demand From Con...| MENAFN.COM

Friday, 31 March 2023 12:11 GMT

Vacuum Excavator Companies Received Improved Demand From Construction Sector | Fact.MR

(MENAFN- Ameliorate Digital Consultancy)

Fact.MR has released the vacuum excavator market analysis which reveals that global demand will have year-on-year (YoY) growth of 8.5% in 2021, to reach a market valuation of US$ 725 Mn . Hydro vacuum excavators are estimated to showcase positive growth of 9% and reach a market valuation of around US$ 400 Mn in 2021, whereas air vacuum excavators are estimated to experience volume sales of 3,010 units in 2021.

Use of vacuum excavators for construction across the residential & commercial sectors, infrastructure construction, and application of vacuum excavators for roadwork are likely to augment demand over the medium- to long-term period. Also, swelling mining industry across the globe is expected to steer overall sales over the coming years.

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Among applications, the mining industry is projected to remain the dominant segment, accounting for nearly 40% of the total sales in 2021. Driven by the increasing mining activities to address the surging demand for metals, coal, and other minerals, the segment is estimated to grow at a CAGR of 6.2% through 2031.

“The focus on innovation is expected to remain high in the market. Some of the leading players are expected to offer innovative designs to cater to industry-specific requirements. Besides this, focus on expanding rental services will augment in the coming years,” says a Fact.MR analyst.

Key Takeaways from the Vacuum Excavator Market Study

  • The market in the U.S. is forecast to grow at a CAGR of 6.1%, accounting for more than 80% of the sales in North America by the end of 2031.
  • China is anticipated to emerge as a highly remunerative market in Asia Pacific, contributing a revenue share of around US$ 270 million through 2031.
  • Construction application segment is projected to account for 37% of the sales, expand at a CAGR of 6.2% over the assessment period.
  • Based on size, the heavy vacuum excavators are estimated to project the fastest growth, surging at 2X during the forecast period 2021-2031.
  • In terms of capacity, the sales of 500-1500 CFM excavators are anticipated to rise at a CAGR of 6%, totaling a valuation of US$ 900 million by 2031.

Key Drivers

  • Demand for rental vacuum excavators for new project start-ups and commercial pipe cleaning as a result of financial constraints among small and medium enterprises (SMEs).
  • Increasing use of vacuum excavators for cleaning and collecting waste material for recycling and recovery applications is boosting application in the utility & municipal segment.

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Key Companies Profiled:

  • Vermeer Vactor Manufacturing
  • Vacall
  • Ox Equipment
  • Ditch Witch
  • Ring-O-Matic
  • Hitech Industrial Services
  • Badger Daylighting
  • Vac-Con

Main Segments Covered :

  • By Type
    • Hydro Vacuum Excavators
    • Air Vacuum Excavators
  • By Material Sucked
    • Liquid Suctioning Only
    • Dry Suctioning Only
    • Liquid and Dry Suctioning
  • By Mounting
    • Trailer-mounted Vacuum Excavators
    • Truck-mounted Vacuum Excavators
  • By Size
    • Mini/Compact Vacuum Excavators
    • Standard/ Full Size Vacuum Excavators
    • Heavy Vacuum Excavators

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Questionnaire answered in the report include:

  • How the industry has grown?
  • What is the present and future outlook on the basis of region?
  • What are the challenges and opportunities?
  • Why the consumption in region?
  • In which year segment is expected to overtake segment?

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