According to a new report published by UnivDatos Markets Insights, the Waste Or Garbage Collection Vehicle Market is expected to be USD 8 Billion in 2022 & is expected to grow at a CAGR of around 4% from 2023-2030. The analysis has been segmented into Loader Type (Front Loader, Rear Loader, Automated Side Loader, and Others); Vehicle Type (Light Duty, Medium Duty, and Heavy Duty); Technology (Manual and Semi-automatic); Application (Residential and Non-Residential); and Region/Country.
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The waste or garbage collection vehicle market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the waste or garbage collection vehicle market. The waste or garbage collection vehicle market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the waste or garbage collection vehicle market at the global and regional levels.
Key Market Opportunity
In the upcoming years, electric vehicles are projected to present major commercial growth prospects for manufacturers as more people choose waste or garbage collection trucks due to their efficient and clean operation. The world has witnessed an increase in the demand for electric vehicles in recent years, which has led to the development of electric garbage collection vehicle technology, which is anticipated to provide the industry with a wealth of growth potential in the years to come. Additionally, the desire for a rapid state of urbanization is rising due to the increasing number of smart city efforts around the world and the large number of people moving into urban regions, particularly in the United States. Population growth will occur over the next few decades as more cities are built. Cities use over two-thirds of the world's energy as well as the vast majority of other resources. Municipal trash collection trucks are employed in smart city initiatives all around the world. Therefore, these vehicles are being used more frequently in smart cities to boost everyday waste collection. Effective management of wet and dry waste is made possible by the increasing number of investments. The prevalence of communicable diseases will ultimately decline if the communities are regularly kept clean and well-maintained.
COVID-19 Impact
The COVID-19 pandemic had a particularly negative impact on front-line workers, such as cleaning personnel. As a result, several governments have emphasized the issue of enhancing worker safety. There is a renewed focus on automated garbage collectors in order to dramatically limit waste management workers' exposure to COVID-19. As a result, truck body manufacturers devote significant resources to enhancing vehicle body design and making it automation-ready. In China, the United States, and Europe, the abrupt decline in industrial trash had a substantial impact on new garbage truck purchases. Given the implications of COVID-19, automated side-loading trucks are becoming increasingly important. ASL allows drivers to have less interaction with infected people, which improves safety. It provides a contactless garbage collection solution, eliminating the requirement for a partner worker to collect and dump rubbish into the truck. When compared to manual waste collection operations, automated side loaders can boost efficiency by up to 75%.
· Based on loader type, the market is segmented into front loader, rear loader, automated side loader and others. Amongst them, the rear loader category is expected to offer rewarding opportunities for the growth and expansion of market during the forecast period.
· Based on vehicle type, the market is divided into light duty, medium duty and heavy duty. Among them, the medium duty segment held the maximum market share and is expected to maintain its position during the period of forecast
· Based on technology, the market is segmented into manual and semi-automatic. Among them, the manual category is anticipated to witness the highest CAGR during the forecast period.
· Based on application, the market is bifurcated into residential and non-residential. The non-residential segment holds the largest share and is expected to register the highest CAGR in the forecast period.
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Waste or Garbage Collection Vehicle Market Geographical Segmentation Includes:
· North America (United States, Canada and Rest of North America)
· Europe (Germany, United Kingdom, Italy, Spain, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India and the Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific holds the major market share in the waste or garbage collection vehicle market in 2022. Owing to the increasing government spending on initiatives to build a healthy and clean environment, which ultimately presents rewarding opportunities to manufacturers of municipal solid waste trucks and vehicles. Additionally, the surge in spending for the creation of emission-free vehicles by local regulatory bodies is a result of rising air pollution levels. Moreover, the growing urbanization and the implementation of smart cities in nations like India and China, demand improved sewage treatment infrastructure and services, as well as concerns about health risks caused by the continuously rising amount of waste produced on a regular basis. Thus, such factors are increasing the demand for waste or garbage collection vehicles in the APAC Region.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the air purifier market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Recent Developments:
· In January 2021, the Corporation of the City of Panaji has procured advanced waste collection vehicles to keep the environment clean.
· In March 2020, Environmental Solutions Group (ESG), of which Heil is a member, introduced the command-SST automatic side loader (ASL). Numerous modern technologies are incorporated into the command-SST to improve security, operational comfort, productivity, and ease of maintenance.
· In January 2021, Waste Pro, Longwood, Florida, reported that AUTOCAR, LLC became the first waste company to buy Autocar ACX severe-duty cab over vehicles equipped with Advanced Driver Assist System (ADAS) technology created by Paris-based WABCO.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the waste or garbage collection vehicle market?
• Which factors are influencing the waste or garbage collection vehicle market over the forecast period?
• What are the global challenges, threats, and risks in the waste or garbage collection vehicle market?
• Which factors are propelling and restraining the waste or garbage collection vehicle market?
• What are the demanding global regions of the waste or garbage collection vehicle market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know if you have any custom needs.
Target Audience:
· Waste or Garbage Collection Vehicle Manufacturers
· Waste Processors
· Vehicle Component Suppliers
· Government Organizations
· Research Organizations and Consulting Companies
