Global Garbage Truck Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Garbage Truck Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A garbage truck is a type of truck. Garbage trucks are mainly used to carry domestic garbage, but can also be used to transport construction garbage, industrial garbage, and so on. The new garbage truck has the characteristics of reliable quality, low failure rate, convenient maintenance and low operating cost.

Market Overview:

The latest research study on the global Garbage Truck market finds that the global Garbage Truck market reached a value of USD 7234.6 million in 2022. It’s expected that the market will achieve USD 9588.59 million by 2028, exhibiting a CAGR of 4.81% during the forecast period.

Affect the normal operation of the industry

The raging COVID-19 has plunged the global economic environment into depression. The impact of COVID-19 on the garbage truck industry will involve all major links and all entities in the industry chain. In the short term, the outbreak of the epidemic prompted countries around the world to implement comprehensive traffic control and other measures. This poses a certain threat to the global supply chain. This is mainly reflected in the impact of the epidemic on the industry's raw material procurement. Due to the limited production of raw material suppliers and poor logistics, raw material procurement is facing difficulties, but as the process of resuming work and production advances, this situation will be effectively alleviated.

From the perspective of garbage truck manufacturers, the main reason is increased cost pressure. The outbreak of COVID-19 has put companies under pressure from tight cash flow, supply chain disruption, and general decline in market supply and demand. Most companies expect revenue to fall sharply. Employee salaries, loan repayments and rental expenses are the main cost pressures for business operations. Especially for small and medium enterprises, paying employees' wages has become the biggest cost pressure. In contrast, wage pressures for employees of large companies are relatively small.

From a downstream perspective, the impact of the epidemic on downstream customers of garbage trucks is comprehensive. During the epidemic, all countries and governments should do a good job in the collection, transportation, and disposal of domestic waste in medical institutions, centralized isolation observation points, and home isolation observation points. This puts forward higher requirements for the garbage disposal, incineration, and landfill management of domestic garbage disposal sites and garbage bin rooms. Therefore, the requirements for garbage disposal during the epidemic are constantly increasing. In the long run, with the gradual improvement of the epidemic, the demand for garbage trucks in downstream industries will continue to increase.

Continuous development of technical level

With the continuous improvement of the degree of automation and technological progress in various industries, the technical level of garbage trucks is no longer behind, and the design of garbage truck bodies is also constantly developing. Considering that garbage collection trucks are a noteworthy investment, the demand for end users to instill high-end features is surging. Because of this, manufacturers are increasingly looking for new ways to extend life and absorb other functions, such as more humanized design concepts, to maximize the way garbage truck body structure meets different requirements, and to achieve the same collection of operations And separate several different types of garbage, etc. Therefore, the improvement of garbage truck performance and technological advancement are constantly promoting the development of the industry.

Risk of rising raw material prices

For the garbage truck industry, the cost of raw materials accounts for a relatively large proportion of all costs. As raw materials are the most basic means of production for garbage truck products, the price increase means that they start to rise from the source of the supply chain. This will cause prices in various industries along the entire chain to rise, and production and operations will be affected. For example, in response to the epidemic, various countries around the world have introduced various stimulus policies to support economic development. Due to the over-issue of currencies in the US dollar area and the euro area, inflation has intensified and spread and radiated to the world, leading to an overall increase in global commodity prices, including steel.

The rising cost of steel has intensified the cost pressure of enterprises and put pressure on most garbage truck companies. If prices increase, manufacturers and distributors will be forced to bear the price increase or pass it on to consumers to maintain profits. Thus, the price fluctuation of raw materials affects the development of the industry.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (35.94% in 2022).

Company Overview:

Kirchhoff Group is one of the major players operating in the Garbage Truck market, holding a share of 10.23% in 2023.

Kirchhoff Group

The history of the KIRCHHOFF Group can be traced back to the Stephan Witte company, which was founded in 1785. With five strong brands-FAUN, ZOELLER, HIDRO-MAK, Superior Pak and FARID-KIRCHHOFF Ecotec is a leading provider of waste treatment logistics and street cleaning technology solutions.

Heil Environmental

Heil proudly manufactures various garbage truck collection bodies, including front loaders, rear loaders, side loaders, multi-compartment vehicles and roll-off cranes.

Segmentation Overview:

By type, Rear loaders segment accounted for the largest share of market in 2022.

Side Loaders

Side Loaders mainly refer to garbage trucks with loading equipment located on the side of the body.

Rear Loaders

Rear loaders mainly refer to garbage trucks with loading equipment located behind the vehicle body.

Front loaders

Front loaders mainly refer to garbage trucks with loading equipment located in front of the body.

Application Overview:

By application, the Urban Garbage treatment segment occupied the biggest share from 2018 to 2022.

Building and mining industry

This application mainly refers to the application of garbage trucks in the construction and mining industry, such as the transportation of various packaging materials, waste concrete blocks, mining wastes and so on.

Urban Garbage treatment

This application mainly refers to the application of garbage trucks in urban garbage disposal. Such as the transportation of household garbage in the community and so on.

Key Companies in the global Garbage Truck market covered in Chapter 3:

Haul-All Equipment
Labrie Enviroquip Group
Curbtender
McNeilus
Aerosun
Infore Enviro
EZ Pack
Shaanxi Automobile Holding Group Co., Ltd.
Heil Environmental
Kirchhoff Group
XCMG Machinery
Bridgeport Truck Manufacturing, Inc
Fujian Longma sanitation
New Way Trucks
SAIC HONGYAN Company

In Chapter 4 and Chapter 14.2, on the basis of types, the Garbage Truck market from 2018 to 2029 is primarily split into:

Side Loaders
Rear Loaders
Front Loaders

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Garbage Truck market from 2018 to 2029 covers:

Building and mining industry
Urban Garbage treatment
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)