The garbage collection truck global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Garbage Collection Truck Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The garbage collection truck market size has grown strongly in recent years. It will grow from $13.23 billion in 2023 to $14.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to a rise in urbanization, population growth, environmental regulations, economic growth, infrastructure development, improved waste segregation, and private sector participation.
The garbage collection truck market size is expected to reach strong growth in the next few years. It will grow to $18.86 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising adoption of smart city initiatives, rising municipal solid waste generation, rising consumer awareness of the harmful effects of open dumping, increasing public concern about sustainability, and increasing automation in several industrial verticals. Major trends in the forecast period include the integration of smart waste management, modernizing garbage truck fleets with connectivity, telematics integration, the development of more efficient and affordable garbage truck models, and the incorporation of technical advancements.
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Scope Of Garbage Collection Truck Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Garbage Collection Truck Market Overview
Market Drivers –
The rising municipal solid waste generation is expected to propel the growth of the garbage collection truck market going forward. Municipal solid waste refers to the everyday waste generated by households, businesses, and institutions within a municipality, including food scraps, paper, plastics, and yard trimmings. Municipal solid waste generation is rising due to population growth and urbanization, leading to higher waste concentrations in cities and greater waste production. Garbage collection trucks are crucial for managing municipal solid waste by efficiently collecting, transporting, and disposing of waste, maintaining cleanliness, and supporting effective waste management. For instance, in February 2024, according to the United Nations Environment Programme, a Kenya-based organization responsible for coordinating responses to environmental issues, there was a dramatic increase in global municipal solid waste generation, with projections indicating a rise from 2.1 billion metric tons in 2023 to 3.8 billion metric tons by 2050. Therefore, rising municipal solid waste generation is driving the growth of the garbage collection truck market.
Market Trends –
Major companies operating in the garbage collection truck market are focusing on developing innovative products, such as hydrogen-powered waste collection vehicles, to reduce emissions and improve environmental sustainability. Hydrogen-powered waste collection vehicles use hydrogen fuel cells to generate electricity, emitting only water vapor and offering a cleaner, more sustainable alternative to traditional diesel-powered trucks. For instance, in September 2022, PreZero Nederland, a Nederland-based waste and recycling management company, launched a hydrogen-powered waste collection truck as part of the HECTOR project in North-West Europe. The hydrogen truck operates with zero harmful emissions and can refuel with up to fifteen kilos of hydrogen, allowing it to operate for two days, collecting waste from underground containers. The launch marks a significant step in PreZero’s efforts to reduce CO2 emissions in waste management and aligns with European environmental requirements to minimize emissions. The project aims to gather data on the performance of hydrogen vehicles in real-world conditions, which will inform future decisions on sustainable waste collection methods in the Netherlands.
The garbage collection truck market covered in this report is segmented –
1) By Product: Front Loaders, Rear Loaders, Side Loaders
2) By Technology: Semi-Automatic, Automatic, Other Technologies
3) By End Use: Municipal Garbage, Industrial Garbage, Other End Uses
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Regional Insights –
North America was the largest region in the garbage collection truck market in 2023. The regions covered in the garbage collection truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the garbage collection truck market are Volvo Truck Corporation, Isuzu Motors Limited, Hino Motors Ltd., Mitsubishi Fuso Truck and Bus Corporation, Terex Corporation, Heil Environmental Industries Ltd., Mack Trucks Inc., Peterbilt Motors Company, Wastequip LLC, Bucher Municipal AG, International Truck and Engine Corporation, Freightliner Trucks, Autocar LLC, McNeilus Companies Inc., New Way Trucks Inc., Avery Weigh-Tronix LLC, TerraCycle Inc., AMREP Inc., Sullivan-Palatek Inc., Curbtender Inc., RDK Truck Sales Inc.
Table of Contents
1. Executive Summary
2. Garbage Collection Truck Market Report Structure
3. Garbage Collection Truck Market Trends And Strategies
4. Garbage Collection Truck Market – Macro Economic Scenario
5. Garbage Collection Truck Market Size And Growth
…..
27. Garbage Collection Truck Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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