Overview and Scope
A garbage truck is a vehicle created specifically to collect and transfer solid waste to a place for recycling. It is designed to collect efficiently and hygienically, compress, and transport distinct kinds of waste, including garbage from homes, corporate, and industrial. They support the upkeep of cleanliness, hygienic conditions, and environmental sustainability in communities by ensuring proper waste management practices.
Sizing and Forecast
The garbage truck market size has grown strongly in recent years. It will grow from $15.44 billion in 2023 to $16.66 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to urbanization and population growth, health and sanitation concerns, industrial revolution impact, public health crisis responses, waste recycling initiatives.
The garbage truck market size is expected to see strong growth in the next few years. It will grow to $21.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to shift towards electric and hybrid vehicles, smart waste management systems, demand for automated collection systems, adoption of ai in waste sorting, rise in biodegradable waste handling. Major trends in the forecast period include on-demand waste collection services, robotics integration in waste handling, enhanced waste segregation capabilities, modular and customizable truck designs, smart fleet management systems.
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Segmentation & Regional Insights
The garbage truck market covered in this report is segmented –
1) By Type: Front Loaders, Rear Loaders, Side Loaders
2) By Technology: Manual, Automatic, Semi-Automatic
3) By Fuel Type: Gasoline, Diesel, Electric
4) By End User: Industrial Corporations, Municipal Authorities
North America was the largest region in the garbage truck market in 2023. The regions covered in the garbage truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising need for waste management is expected to propel the growth of the garbage truck market going forward. Waste management is the process of gathering, handling, getting rid of, and managing waste products effectively and responsibly. Garbage trucks are helpful for waste management to collect and transport solid garbage from homes, businesses, and industrial areas to facilities for proper disposal or treatment. For instance, in July 2021, according to an article published by the World Bank, a US-based international organization that provides financing, advice, and research to developing nations, the waste generated in 2020 was estimated to be 2.24 billion tons of solid waste, which amounted to a footprint of 0.97 kilograms of waste per person per day. Furthermore, with the rapid growth of population and urbanization, annual waste generation is set to see an increase of 73%, amounting to 3.88 billion tons by 2050. Therefore, the rising need for waste management is driving the growth of the garbage truck market.
Key Industry Players
Major companies operating in the garbage truck market report are Tata Ltd., Mack Trucks Inc., Bucher Municipal, FAUN Zoeller, Dennis Eagle Ltd., McNeilus Companies Inc., Heil Environmental Industries Ltd., Labrie Enviroquip Group, Peterbilt, Curbtender Inc., EZ Pack Refuse Hauling Solutions, Haul-All Equipment Ltd., Bridgeport Manufacturing Inc., Volvo Group, Jesco Industries Inc., Cardinal Carryor, Superior Pak Pty Ltd., Vecoplan LLC, New Way Trucks, Papas Waste Equipment International Pty Ltd., Russ Engineering Pty Ltd., Amrep Inc., Meyer Material Handling Products Inc., Aman Cleaning Equipment Pvt. Ltd., Warren Truck and Trailer LLC.
The garbage truck market report table of contents includes:
1. Executive Summary
2. Garbage Truck Market Characteristics
3. Garbage Truck Market Trends And Strategies
4. Garbage Truck Market – Macro Economic Scenario
5. Global Garbage Truck Market Size and Growth
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31. Garbage Truck Market Other Major And Innovative Companies
32. Global Garbage Truck Market Competitive Benchmarking
33. Global Garbage Truck Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Garbage Truck Market
35. Garbage Truck Market Future Outlook and Potential Analysis
36.Appendix
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