Home > Automotive & Transportation > Garbage Truck Market
Garbage Truck Market size was valued at USD 14.1 billion in 2022 and is anticipated to grow at a CAGR of over 4.5% from 2023 to 2032 owing to the rising awareness of waste management.
To get more details on this report: Request Free Sample PDF
As individuals, communities, and governments become increasingly conscious of the environmental impacts of improper waste disposal, the demand for efficient & sustainable waste management solutions will grow. This increased awareness has led to a greater emphasis on recycling, waste reduction, and responsible waste collection & disposal. The industry is driven by the need for advanced garbage trucks that can handle different types of waste and support sustainable waste management practices.
Report Coverage | Details |
---|---|
Base Year: | 2022 |
Market Size in 2022: | USD 14.1 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 4.8% |
2032 Value Projection: | USD 22.4 Billion |
Historical Data for: | 2018 – 2022 |
No. of Pages: | 300 |
Tables, Charts & Figures: | 562 |
Segments covered: | Type, Fuel Type, Technology, End-Use |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
To get more details on this report: Request Free Sample PDF
Growing automation in commercial vehicles is also driving the garbage truck market growth by enhancing efficiency, safety, and productivity. Automation technologies, such as robotic arms and automated collection mechanisms, streamline waste collection processes, reducing reliance on manual labor and minimizing the risk of injuries. Automation also improves operational efficiency, enabling faster & more precise waste collection. As a result, the demand for garbage trucks with advanced automation features is increasing as businesses and municipalities seek to optimize their waste management operations.
High maintenance and operational costs associated with garbage trucks can pose challenges to industry development. Garbage trucks require regular maintenance including servicing hydraulic systems and other components. These maintenance requirements can be costly, especially for older trucks or those with specialized features. In addition, fuel, insurance, and labor expenses contribute to the overall cost of operating a garbage truck fleet. These high costs can strain the profitability of waste management companies or municipalities, resulting in a reluctance to invest in new trucks or upgrade the existing ones.
The pandemic disrupted supply chains and manufacturing processes, leading to delays in the production and delivery of new garbage trucks. This affected the ability of waste management companies to replace aging vehicles or expand fleets, thereby restricting garbage truck market expansion. The pandemic also highlighted the importance of maintaining hygiene and sanitation standards thereby spurring the need for technologically advanced garbage trucks.
Prominent trends witnessed in the global garbage truck industry are an inclined interest in alternative fuels and vehicle electrification driven by the need to reduce emissions, lower operating costs, and promote sustainable practices. Furthermore, the electrification of garbage trucks provides zero-emission & quieter operation and potential cost savings in terms of fuel & maintenance. As environmental regulations become stricter, municipal solid waste management companies will increasingly explore & adopt alternative fuels and electric-powered garbage trucks to align with their sustainability goals and reduce carbon footprints.
To get more details on this report: Request Free Sample PDF
The rear loader garbage truck market held around USD 5.4 billion revenue in 2022. Rear loaders offer a versatile & efficient waste collection solution for both residential and commercial areas. Rear loaders also provide easy operations with their automated compaction & lifting mechanisms, reducing the need for manual labor. Moreover, their design allows larger payload capacities, enabling efficient waste collection in high-density areas. The growing urbanization and population density in many regions are driving the demand for rear-loader garbage trucks, thus proliferating segment growth.
To get more details on this report: Request Free Sample PDF
The municipal sector is expected witness over 4% growth rate during 2023-2032. Municipalities play a crucial role in waste management as they are responsible for maintaining cleanliness and hygiene in the region. Municipalities often have long-term waste management contracts, providing a stable and consistent market for garbage truck manufacturers. However, the focus on sustainable practices and the need to upgrade aging infrastructure will further contribute to the municipal industry development.
North America garbage truck market dominated 15 thousand units in 2022 and expected to grow significantly during the forecasted period. The increasing urbanization and population will drive the demand for efficient waste management services. Strict environmental regulations and sustainability initiatives encourage the adoption of advanced garbage trucks that are fuel-efficient and eco-friendly. The growing focus on recycling & waste reduction and the region’s emphasis on sustainable waste management practices & investments in modernizing its industrial solid waste management will further boost the regional industry statistics.
Major companies operating in the garbage truck business landscape are Autocar LLC, Dennis Eagle Inc., Dongfeng Motor Corporation Ltd., FAUN Umwelttechnik GmbH & Co. KG, FULONGMA GROUP Co., Ltd., Heil Environmental, Kirchhoff Group, Labrie Group, McNeilus Truck and Manufacturing Inc., New Way Trucks, Mack Trucks, Shandong Wuzheng Group Co., Ltd., and XCMG Group.
Click here to Buy Section of this Report
Market, By Type
Market, By Fuel Type
Market, By Technology
Market, By End-Use
The above information is provided for the following regions and countries: