Press release
Global Snow Sweeper Truck Market To Grow At A CAGR Of 4.4 And To Reach USD 555.9 Million By 2031
Commonly observed types of snow sweeper trucks are rotary snow sweeper truck, and wedge snow sweeper truck. Among these, the wedge snow sweeper truck accounted for the highest market share in 2021, owing to its ability to sweep large volumes of snow at a time. Further, the OEM under the business segment registered a higher demand in 2021, owing to easy large sales made of OEMs.
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In addition, the market is analyzed with respect to the application of snow sweeper trucks in street, airport, highway, and agriculture. Among these, the agriculture is expected to grow at the highest CAGR. The market is mainly driven by the recovery in winter tourism, and rise in investments for infrastructure construction. However, the high acquisition, and maintenance cost of snow sweeper truck, and the decrease in snowfall due to global warming, constraints the growth of the market.
Region-wise, the snow sweeper truck market share analysis is conducted across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Europe dominated the global market, in terms of revenue. Moreover, the market in Asia-Pacific is expected to grow with the highest CAGR, owing to the growth in the use of snow sweeper truck for removing snow from highways.
The advancements in technology, that have enabled the autonomous and remote operation of snow sweeper truck is anticipated to provide lucrative opportunities for the snow sweeper truck market growth.
Moreover, key players in the market are partnering with other companies in the similar markets for rapid growth. For instance, in May 2022, Marcel Boschung AG, involved in manufacturing surface clearing equipment, signed a partnership agreement with the Airport Technologies Inc. Airport Technologies Inc., is a Canada based high performance airport vehicle manufacturer.
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This partnership is aimed towards strengthening their offerings by combining their portfolios, creating product synergies such as with two of their MTE products: ATI's Snow Mauler as tow truck with mounted snow plow and Boschung's high performance sweeper blower hanger unit the Jetbroom 10000 T. This partnership will also introduce new fully electric and autonomous vehicles in the range of compact sweepers and multipurpose equipment carriers.
However, various manufacturers in the snow sweeper truck market had to stop their business in countries such as China, U.S., and Europe, during the pandemic lockdown. This break directly impacted the growth of snow sweeper truck and its components manufacturing companies. In addition, the lack of manpower and raw materials negatively influenced the growth of the market.
However, after two years of COVID-19 outbreak and the introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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