(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.
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 SEWER EQUIPMENT Vac-Con
Main Segments Covered :
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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