Solid Waste Management Vehicles Market in India 2023

Solid Waste Management Vehicles Market in India 2023

Market insights:

The management of municipal solid waste in India has continued to be a severe problem not only because of environmental and aesthetic concerns but also because of the enormous quantities generated every day. Even though only 31% of the Indian population resides in urban areas generates a gigantic 1,43,449 metric tonnes per day of municipal solid waste, as per the Central Pollution Control Board (CPCB), and these figures increase every day with an increase in population.

The management of municipal solid waste is one of the main functions of all Urban Local Bodies (ULBs) in the country. With limited financial resources, technical capacities, and land availability, urban local bodies are constantly striving to meet this challenge. Hence, to tackle this problem, waste management vehicles play an important role.

In terms of revenue, the Indian solid waste management vehicles market was valued at INR 9.38 Bn in FY 2022. It is expected to reach INR 22.91 Bn by FY 2027 expanding at a CAGR of ~20.43% during the FY 2023 ─ FY 2027 forecast period. The solid waste management vehicles market in India can be segregated based on vehicle type and technology. In terms of vehicle type, the market can be segregated based on garbage compactor trucks, road sweeper machines, bulk refuse carriers, dumper placers etc.

Leading companies involved in the manufacturing of solid waste management vehicles include Antony Motors Private Limited, Hyva India Private Limited, TPS Infrastructure Limited, Kam-Avida Enviro Engineers Private Limited, Jupiter Wagons Limited, etc.

Impact of COVID-19:

During the second and third COVID-19 wave, standalone and unorganized players bore the impact of the lockdown and witnessed severe contraction, thus pushing a lot of them out of business. Pandemic plastics (e.g., masks, gloves, aprons, and sanitizer bottles) were a global setback caused due to COVID-19, which has increased significantly throughout the world. These hazardous wastes are important in environmental pollution and indirectly spread COVID-19.

Hence, proper waste management vehicles were integral during the pandemic. About 900kg of Covid-19 waste was being generated daily around December 2021, which we were collecting from 30 Covid centers. A few civic bodies approached these centers by introducing bulk carrier vehicles for disposing off the waste generated. Many municipal corporations in India have adopted a separate garbage collecting system to lift garbage generated from houses of COVID-19 patients in home isolation. More than 100 garbage-collecting twin-bin vehicles throughout the city to lift garbage generated from the residences of Covid patients in home isolation.

Market influencers:

The growth of the market is anticipated on account of the rising demand for the management of solid waste. Moreover, increasing environmental awareness and government initiatives such as Swachh Bharat Mission are elevating consumer awareness of a clean environment, which is expected to play an integral role in the growth of the market.