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Global Snow Sweeper Truck Market Expected to Reach $555.9 Million by 2031—Allied Market Research

 
2022
Global Snow Sweeper Truck Market

Report Code : A03718

quote The snow sweeper truck market has witnessed significant growth in the past decade, owing to increasing winter tourism, and construction of transport infrastructure in snow-bound areas across the world. A number of players in the snow sweeper truck industry are expanding their business to strengthen their foothold in the global market. By type, the wedge snow sweeper truck dominated the snow sweeper truck market in 2021, in terms of revenue. This is attributed to its ability to sweep large volumes of snow at a time. On the basis of business, the OEM registered higher revenue in 2021. Depending on the application, the agriculture segment is expected to grow at a higher CAGR during the forecast period, owing to the increasing population that drives demand for food and agriculture products. quote

Onkar Sumant - Manager
Construction and Manufacturing at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Global Snow Sweeper Truck Market," The global snow sweeper truck market size was valued at $361.4 million in 2021, and is estimated to reach $555.9 million by 2031, growing at a CAGR of 4.4% from 2022 to 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. 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. 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.

Key Findings Of The Study

  • The report provides an extensive analysis of the current and emerging snow sweeper truck market trends and dynamics. 
  • Depending on type, the wedge snow sweeper truck dominated the snow sweeper truck market, in terms of revenue in 2021, and the rotary snow sweeper truck projected to grow at a significant CAGR during the forecast period.
  • By the business type, the OEM registered a higher revenue in 2021
  • By application, agriculture is expected to grow at the highest CAGR during the forecast period.
  • Asia-Pacific is projected to register highest growth rate in the coming years.
  • The key players within the snow sweeper truck market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the snow sweeper truck industry.
  • The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
  • In-depth snow sweeper truck market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
  • The snow sweeper truck market forecast analysis from 2022 to 2031 is included in the report.

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quote Global Snow Sweeper Truck Market by Type (Rotary Snow Sweeper Truck, Wedge Snow Sweeper Truck), by Business (OEM, Aftermarket), by Application (Street, Airport, Highway, Agriculture): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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