Vacuum Excavator Companies Received Improved Demand from Construction Sector, Market to Double through 2031

NEW YORK, Oct. 5, 2021 /PRNewswire/ -- As per a survey conducted by Fact.MR, the global vacuum excavator market is predicted to reach US$ 725 million by 2021. With rising demand for vacuum excavators among construction and mining equipment operators for excavating, grading, and site preparation, the market is expected to register year-on-year growth of 8.5% in 2021.

As per the report, the market registered decelerating sales at -0.5% CAGR from 2016 to 2020. However, with the rapidly expanding mining and construction industries across North America, Europe, and Asia Pacific, the vacuum excavator market is expected to register growth at a CAGR of 6.5% over the forecast period 2021-2031.

Government push for massive construction projects aimed at infrastructural development is expected to steer growth in the coming years. For instance, China's Belt and Road Initiative (BRI), a reminiscent of the Silk Road, is an ambitious project that will stretch from East Asia to Europe, India's Smart City Mission to urbanize the country, and others will create impressive opportunities for post COVID-19 revival of the market. Driven by this, the worldwide sales of vacuum excavator is expected to rise by 2X over the assessment period.

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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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Competitive Landscape

Some of the leading manufacturers are emphasizing on the introduction of novel technologies to provide highly durable and center-mounted control. Some of the player are adopting strategies, such as partnerships with component providers, rentals, and investments in research and development (R&D) to broaden their product portfolio. For instance,

• Vactor Manufacturing, a U.S.-based manufacturing company, announced launching a unique solution for cleaning, TRUVAC. The TRUVAC provides trailer support for capacity addressing the increasing demand for vacuum excavator trailers.
• In 2020, KOKS Company, an international manufacturer and supplier of vacuum trucks, announced introducing a high-pressure water vacuum truck. The novel truck is in a category of extended of 25ft. and has a SIR permitted Hammelmann 700hp high pressure pump inbuilt in it.

Some of the leading players in the market profiled by Fact.MR are:

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

More Valuable Insights on Vacuum Excavator Market

Fact.MR, in its new report, offers an unbiased analysis of the global vacuum excavator market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in vacuum excavator market with detailed segmentation:

• 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
• By Application
• Vacuum Excavators for Construction
• Residential & Commercial Construction
• Infrastructure Construction*
• Road Construction
• Vacuum Excavators for Mining
• Vacuum Excavators for Utility & Municipal
• By Tank Capacity
• Up to 1,000 L Vacuum Excavators
• 1,000 to 3,000 L Vacuum Excavators
• 3,000 to 6,000 L Vacuum Excavators
• 6,000 to 10,000 L Vacuum Excavators
• By Suction Capacity
• 500 -1500 CFM  Vacuum Excavators
• 1500- 3000 CFM Vacuum Excavators
• 3000- 4500 CFM Vacuum Excavators
• 4500-6000  CFM Vacuum Excavators
• 6000-7000  CFM Vacuum Excavators
• By Engine Capacity
• 20-60 HP Vacuum Excavators
• 60-100 HP Vacuum Excavators
• 100-140 HP Vacuum Excavators
• 140-180 HP Vacuum Excavators
• 180- 200 HP Vacuum Excavators

Key Questions Covered in the Vacuum Excavator Market Report 

• The market survey also highlights projected sales growth of the vacuum excavator market between 2021 and 2031
• The report offers insight into vacuum excavator demand outlook for 2021-2031
• Vacuum excavator market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others 
• Vacuum excavator market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry 

Explore Fact.MR's Coverage on the Industrial Goods Domain –

Excavator Drill Market- In the coming years, the excavator drill industry has a lot of promise. Excavator drill demand has risen as a result of advancements in mining and drilling for numerous industrial applications. Mining, micro piling and construction foundations, geotechnical studies, rock drilling, earthing, and coring are just a few of the tasks where an excavator drill is in high demand, serving sectors such as oil and gas, construction, mining, and agriculture. Excavator drills have tremendous demand and market growth potential across industries due to their benefit of mobility to small spaces with limited headroom, remote locations, and size over conventional drilling equipment or rigs.

Excavator Augers Market- Excavator Augers are a type of heavy equipment that is used to dig a hole in the ground. The expanding infrastructure is a major driver of excavator auger market growth. Excavator augers have a wide range of uses during construction. Excavator augers have various advantages, including being incredibly efficient and employing a simple approach for digging holes. When compared to the traditional method of digging, it saves a significant amount of time and labor. Excavator augers are being adopted at a faster rate in both small and large-scale construction, which will increase demand for excavator augers in the coming years.

Forestry Excavators Market- Forestry excavator sales are significantly driven by the rising demand for wood and wood related products across the world. To lop forest trees, the shift to mechanized processes has upheld demand for forestry excavators and is expected to continue the same during the projected period. Increasing focus on forest management activities across the world will result in a rise in demand for forestry machinery, driving market growth. As farming activity is increasing all over the world, market players are expected to have variety of opportunities in this market.

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SOURCE Fact.MR