Waste or Garbage Collection Vehicle Market is estimated to be US$ 19.06 billion by 2030 with a CAGR of 4.30% during the forecast period
India has introduced important initiatives regarding cleanliness, such as ‘Swach Bharat’. This is resulting to increased use of garbage trucks in the country.Waste or Garbage Collection Vehicle Market accounted for US$ 12.28 billion in 2020 and is estimated to be US$ 19.06 billion by 2030 with a CAGR of 4.30% during the forecast period.
The report. "Global Waste or Garbage Collection Vehicle Market, By Type (Front Loaders, Rear Loader, ASL (Automated Side Loaders), Pneumatic Collection, and Grapple Trucks), By Technology (Manual and Semi-Automatic), By Application (Industrial Garbage, Municipal Garbage, and Others), By Fuel (Natural Gas and Electric), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Analyst View:
Growing concerns regarding effective procedures for waste management, innovations in garbage collection trucks are also rising the demand for waste disposal and recycling. Thus, key players are focused on the adoption of various technologies in order to expand the productivity and efficiency of their products. Manufacturers are also concentrating on introducing several technological advances in garbage collection trucks, such as increasing the degree of automation, rising efficiency through reduction of downtime and noise. Further, manufacturers are working on to introduce new features such as real-time monitoring and several new equipment addition for collection of waste from segregation and streets. This is projected to drive the garbage collection trucks market.
Urbanization is driving to the development of the construction industry. Cement, sand, or bricks required for construction of houses has resulted to grow in mining activity as well. Garbage trucks carry sand, demolition waste, gravel, etc., from a construction or mining site to waste management sites. Growth of the construction and mining industries is mainly to fuel the global garbage truck market in the coming years. As per World Health Organization, about 12.6 million deaths results due to environment problems. Growing population and rising municipal solid waste generation are the factors boosting growth for the unhealthy environment. Moreover, governments are spending considerable amounts to allow efficient working of solid waste management plants and wastewater treatment.
Key Market Insights from the report:
Global Waste or Garbage Collection Vehicle Market accounted for US$ 12.28 billion in 2020 and is estimated to be US$ 19.06 billion by 2030 with a CAGR of 4.30% during the forecast period. The market report has been segmented on type, technology, application, fuel, and region.
· By type, the global waste or garbage collection vehicle market is segmented into front loaders, rear loader, ASL (Automated Side Loaders), pneumatic collection, and grapple trucks
· By technology, the target market is classified into manual and semi-automatic
· By application, the target market is classified into industrial garbage, municipal garbage, and others
· By fuel, the target market is classified into natural gas and electric.
· By region, North America and Europe is accounting foe highest share of the global waste or garbage collection vehicle market. The China waste collection trucks market is projected to be an opportunistic market in terms of sales.
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Competitive Landscape:
The prominent player operating in the global waste or garbage collection vehicle market includes Mack, Autocar Trucks, Environmental Solutions Group., McNeilus Truck & Manufacturing, Inc., Daimler AG, Husmann Umwelt-Technik GmbH, Xiagong Chusheng (Hubei) Special-Purpose Vehicle Co., LTD, Terberg Matec UK Ltd., Legras Industries, Nantong Mingnuo Electric Technology Co.,ltd, and Curbtender Sweepers, LLC.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
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