15-Nov-2022 | Zion Market Research
The global garbage trucks market size was worth around USD 14,819 million in 2021 and is predicted to grow to around USD 26,111 million by 2028 with a compound annual growth rate (CAGR) of roughly 7.41% between 2022 and 2028.
Garbage trucks are vehicular units used to pick up garbage or waste from pick-up sites and transported it to the allocated space where the garbage is later processed, recycled, or dumped depending on the nature of the garbage content. There are different types of garbage trucks including front loaders, rear loaders, and side loaders. Garbage pickup trucks using side loading mechanisms are further divided into manual side loaders, automated side loaders, and semi-automated side loaders. They can also be divided depending on the collection type.
The pneumatic collection is a range of garbage trucks that is installed with a crane and a mouthpiece that fit into a predesigned hole that is typically located under a plate under the street. Grapple trucks are used during the collection of bulk waste. When collecting solid waste most items are too large or heavy to be picked up with utmost accuracy with manual labor.
Such items are called bulk waste and grapple trucks can perform the job of picking up these items with utmost efficiency. Roll-offs can be distinguished due to their rectangular footprint that uses wheels to roll the dumpster in place. The container is designed such that it can only be transported using specific roll-off trucks.
The global garbage trucks market is projected to grow owing to the growing need of managing waste. With rampant industrialization and modernization, the amount of waste generated has increased exponentially. Waste is a by-product of any function either at the industrial level or residential level. For instance, in the retail industry, a lot of clothing fabrics go unused or a large number of items are discarded after use that cannot be recycled.
At a personal level, every home contributed to the generation of food waste along with other types of small-scale discarded and unusable content. Every industry and business of all sizes is responsible for waste generation in varying forms and quantities. With this, the need to have a proper waste disposal system places it at an all-time high. Recently, the Australian government announced that it will spend AUD 83.1 million over the next 5 years to upgrade the country’s waste and recycling capabilities.
However, the global market is projected to encounter some hindrances during the growth trajectory owing to rising fuel prices. Most of the trucks are powered by oil or gas with a selective range of electric vehicles which is currently very limited. As the price of fuel goes up, the total expense of the garbage disposal process is likely to increase drastically causing multiple economies to rethink the allocated budget with some cost-cutting involved. This may impede revenue addition during the forecast period.
The use of technology may provide excellent growth opportunities while unaffordability is expected to become a major challenge during the growth period.
Report Attributes | Report Details |
---|---|
Report Name | Garbage Trucks Market Research Report |
Market Size in 2021 | USD 14,819 Million |
Market Forecast in 2028 | USD 26,111 Million |
Compound Annual Growth Rate | CAGR of 7.41% |
Number of Pages | 182 |
Forecast Units | Value (USD Million), and Volume (Units) |
Key Companies Covered | New Way, Heil Co., Bridgeport Truck Manufacturing, Curbtender, McNeilus, Labrie, Kirchhoff Group, Haul-All Equipment, EZ Pack, and others. |
Segments Covered | By Application, By Propulsion, By Product, By End-User and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
Base Year | 2021 |
Historical Year | 2016 to 2020 |
Forecast Year | 2022 - 2028 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Market Segmentation
The global garbage trucks market is segmented based on application, propulsion, product, end-user, and region
Based on propulsion, the global market divisions are gasoline, diesel, and electric. In 2021, the highest revenue was generated from the diesel segment owing to the majority of the trucks running on diesel followed by gasoline-powered vehicles and with the smaller share of the global market being owned by electric garbage trucks. However, the rising cost of running and maintaining diesel-run vehicles is likely to take a backseat in the coming years as fuel prices continue to rise. This may be further fueled by the growing turmoil between Russia and Ukraine and the changing power dynamics between the west and the east. In October 2022, the price of one gallon of diesel was around USD 5.21 owing to low inventory, high global demand, and low output from European nations.
Based on end-user, the global market is segmented as industrial corporations and municipal authorities with the latter leading with the highest CAGR during 2021. This is because garbage disposal trucks typically fall under the role of government bodies that are responsible for managing the cleanliness and hygiene of the local region. Municipal corporations are well-funded and almost every year receive a huge sum of money to be invested in upgrading the localities' waste management processes. For instance, Brihanmumbai Municipal Corporation increased its funding by 250% allocated to solid waste management in 2022.
The global garbage trucks market is projected to be dominated by North America during the forecast period due to the already advanced infrastructure of the region. North America may witness a rise in the adoption of electric garbage drugs as the countries like the US and Canada have the necessary funds to invest in more advanced systems. Asia-Pacific may also grow at a high CAGR due to the excellent waste management systems observed in Singapore, Japan, Hong Kong, and surrounding areas. These countries invest heavily in developing world-class garbage disposal processes allowing the region to generate high revenue.
Key Market Players
The global garbage trucks market is dominated by
Recent Developments:
This review is based on a report by Zion Market Research, titled “Garbage Trucks Market By Application (Building & Mining, Hazardous Waste, Urban Garbage Treatment, and Others), By Propulsion (Gasoline, Diesel, and Electric), By Product (Side Loaders, Front Loaders, and Rear Loaders), By End-User (Industrial Corporations, and Municipal Authorities), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.”- Report at https://www.zionmarketresearch.com/report/garbage-trucks-market
The global garbage trucks market is segmented as follows:
By Application
By Propulsion
By Product
By End-User
By Region
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