Garbage Truck Market: Current Analysis and Forecast (2022-2028)

Garbage Truck Market: Current Analysis and Forecast (2022-2028)

A garbage truck, also known as a refuse truck, is a specialized vehicle used for collecting and transporting the solid waste, typically from residential and commercial areas, to a waste treatment facility or landfill. Garbage trucks come in different sizes and designs, but most have a large compactor or shredder at the rear of the truck that compresses the waste to maximize the amount that can be carried. As the world becomes more environmentally conscious, the demand for advanced and efficient garbage trucks will continue to grow. Governments worldwide are implementing stringent regulations on waste management and disposal to reduce the environmental impact of waste. For instance, the European Union has set targets to reduce waste generation, increase recycling rates, and reduce landfilling. Such regulations have spurred the demand for advanced and more efficient garbage trucks that can handle and dispose of waste in an environmentally friendly manner

The Garbage Truck Market is expected to grow at a steady rate of around 5% owing to the economic growth in many countries leading to an increase in consumer spending and, as a result, more waste being generated. This is driving the demand for larger and more efficient garbage trucks. Major companies in the market garbage truck with technologically advanced features. For instance, Mack LR Electric was launched in 2021 by Mack Trucks, a subsidiary of the Volvo Group. This garbage truck is powered entirely by electricity, making it an environmentally friendly option for waste collection.

• Based on propulsion, the market is segmented into gasoline, electric and petrol. The electric category is to witness higher CAGR during the forecast period owing to the growing penetration of electric vehicles from developing nations such as China, India, and others. Electric vehicles are being adopted as environment-friendly energy sources due to the growing trend towards reducing pollution globally. Furthermore, the entry of global players into emerging markets adds to the growth of the market
• On the basis of product, the market is categorized into the front loader, side loader, and rear loader. Among these, the rear loader holds a significant share of the market. This is mainly due to the advantages the rear loader offers as compared to its counterparts. The rear loader garbage truck is a common sight on streets across the United States. The secret to its efficiency is the compaction cycle, which presses the waste against a steel plate located just behind the cab. This removes waste liquids and air, allowing the truck to make fewer trips to the city dump or local landfill. Additionally, Rear loading trucks are designed to handle multiple types of garbage cans. There’s no need for the community to adopt a single waste bin design for all its residents
• Based on application, the garbage truck market has been classified into municipal garbage, industrial garbage, and others. Municipal Garbage accounted for the largest market share in 2021. Municipal solid waste contains commercial and domestic wastes generated in municipal or reported areas in either solid or semi-solid form, except industrial hazardous wastes, including treated bio-medical wastes. Littering of municipal solid waste shall be banned in cities, towns, and urban areas notified by the State Governments. Each year, the average citizen of a developed nation produces about half a ton of waste; thus, waste management is an important industry. Old waste management systems based on collecting mixed or sorted waste and transporting it a long way to disposal sites negatively impact the environment and humans. A waste collection vehicle is more common in this case. This vehicle includes a garbage truck specially prepared to manage municipal solid waste and transport it to a solid waste management facility, like a recycling center, landfill, or transfer station
• For a better understanding of the market adoption of the garbage truck industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia Pacific region is expected to grow at a significant growth rate in the global garbage truck market due to various factors. One of the key driving factors is the rapid urbanization and population growth in this region, leading to a significant increase in the amount of waste generated. As more people move to cities and urban areas, there is a greater need for waste management services, including garbage collection and disposal. Additionally, there has been an increasing focus on environmental sustainability and waste management practices in the Asia Pacific region. Governments and businesses are investing heavily in improving waste collection and disposal methods, and this has led to a growing demand for more efficient and effective garbage trucks. Furthermore, there is a growing awareness among consumers and businesses about the need to reduce waste and recycle more, which has further fuelled the demand for better waste management solutions
• Some of the major players operating in the market include Curbtender Sweepers, LLC; Dongfeng Motor Company; Environmental Solutions Group; E-Z Pac; FAUN Umwelttechnik GmbH & Co. KG; FULONGMA GROUP Co., Ltd.; Geesinknorba; Labrie Group; Royal Terberg Group; and Zoomlion Heavy Industry Science&Technology Co., Ltd.