Electric Powered Lavatory Service Vehicles to Witness Resilient Growth
Currently, the market for electric and non-electric vehicles is promising in the lavatory service vehicles market. Collectively, both the segments are estimated to hold 89% of in the global lavatory service vehicles market.
Although most lavatory service vehicles are powered by diesel or gasoline, increasing adoption of zero-emission GSE is foreseen to bolster the demand for electric lavatory service vehicles in the near future. The non-electric segment is estimated to contribute 55% in the overall value opportunity created over the forecast duration.
Cart Based Lavatory Service Vehicles Foreseen to Gain Traction
The truck based lavatory service vehicles is prospering, owing to the increased demand for air travel, thus fueling the necessity for new passenger aircrafts. The truck based lavatory service vehicles segment is projected to experience a growth of ~1.6X to cross the US$ 100 Mn mark by the end of 2028.
However, cart based lavatory service vehicles are expected to witness astonishing growth at a value CAGR of 7.7%, which is nearly 1.5 times faster than that of the truck segment.
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Surge in Demand for 50-100 Gallons Capacity Vehicles Setting a New Benchmark
The lavatory service vehicles with capacity of 50-100 gallons appears to be the most lucrative segment and is estimated to grow 1.7X in terms of value by 2028 end.
With a growing number of smaller aircrafts, airports are targeting a cut down on resources expended in GSE (Ground support equipment), including lavatory service vehicles, to implement a low-cost business model. This is foreseen to create a tangible shift in demand for lavatory service vehicles with larger capacities in the forthcoming years.
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Long-Term Prospects for Commercial Segment is Foreseen to Remain Strong
Globally, the demand for lavatory service vehicles for commercial applications is high since the number of aircraft in the commercial aviation industry are more as compared to defense applications, which contributes to the high demand for commercial lavatory service vehicles.
The commercial lavatory service vehicles segment is foreseen to cross ~ US$88 million mark by the end of the forecast period by contributing three fourth of the overall absolute dollar opportunity created by the end of 2028. However, the defense segment is expected to grow at a growth rate of 6.6% which is nearly 1.3X faster than that of commercial segment.
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Growing Aviation Industry Propels Demand for Lavatory Service Vehicles Market in Developing Regions
In terms of value, North America holds one third of the share in the global lavatory service vehicles market. Collectively, North America and APEJ are estimated to account for half of the overall market in terms of value. Furthermore, Eastern Europe is also estimated to show resilient growth during the forecast period owing to upcoming airport projects and growing aircraft movements due to increasing passenger traffic.
Strong growth in the upper-middle-income group has paved the way for strong passenger numbers with the highest growth expected in APAC and Middle East & Africa region. Owing to this, both the regions are foreseen to auger well by contributing ~36% in the overall value opportunity in global lavatory service vehicle market by 2028 end.
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Incorporation of Advanced Technologies to be Key Market Trend
A majority of manufacturers in the lavatory service vehicles market are adopting strategies to efficiently design lavatory service vehicles with maximum control over the quantity of fluids to be transferred to eliminate the risk of accidental overfilling.
With the adoption of UV-resistant, crack-resistant, and rust-proof materials to manufacture batching tanks in lavatory service vehicles, manufacturers are aiming to introduce safer and highly-efficient lavatory service vehicles. By incorporating advanced technologies, leading stakeholders in the lavatory service vehicles market are introducing innovative features to gain a competitive edge in the market in the upcoming years.
Key Segments of the Lavatory Service Vehicles Market
Fact.MR’s study on the lavatory service vehicles market offers information classified into five important segments: power, vehicle, capacity, application, and region. This market report proposes comprehensive data and information about the important market changing aspects and evolution structures related with these categories.
Lavatory Service Vehicles Market - Scope Of The Report
Fact.MR recently published a market study on the global market for Lavatory Service Vehicles.
The study provides detailed assessment on key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the lavatory service vehicles market structure. The market study presents exclusive information about how the market will grow during the forecast period of 2019-2028.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the lavatory service vehicles market during the forecast period.
The study is relevant for stakeholders in the lavatory service vehicles market, including manufacturers and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the lavatory service vehicles market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in Fact.MR study.
The study also includes statistics as well as facts related to the macro as well as microeconomic factors that are impacting developments in the lavatory service vehicles market. It also offers actionable insights based on future trends in the lavatory service vehicles market.
Moreover, small businesses and new entrants in the market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in Fact.MR’s Lavatory Service Vehicles Market Report
- Which regions will continue to remain the most profitable regional markets for lavatory service vehicles market players?
- Which factors will induce a change in the demand for lavatory service vehicles during the assessment period?
- How will changing trends impact the lavatory service vehicles market?
- How can market players capture the low-hanging opportunities in the lavatory service vehicles market in developed regions?
- Which companies are leading the lavatory service vehicles market?
- What are the winning strategies of stakeholders in the lavatory service vehicles market to upscale their position in this landscape?
- Which boat type will hold the largest value share in the lavatory service vehicles market?
Lavatory Service Vehicles Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the lavatory service vehicles market, and reach conclusions on the foreseeable growth parameters of the market.
This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of conclusions.
Secondary resources referred to analysts in the lavatory service vehicles market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases.
Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources act as a validation from companies in the lavatory service vehicles market, and makes Fact.MR’s projection on growth prospects of the lavatory service vehicles market more accurate and reliable.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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