USD 4.15 billion
Report ID: SQSG20V2001 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Garbage Truck Bodies Market was valued at USD 4.15 billion in 2021, and it is expected to reach a value of USD 5.07 billion by 2028, at a CAGR of more than 4.05% over the forecast period (2022- 2028).
Due to increasing urbanization and the rising population rate globally, the industry is expected to have substantial growth during the forecast period. Furthermore, the market is anticipated to be driven by the growing industrialization and commercialization of developing nations.
Garbage collection truck technologies are growing to make recycling and waste disposal easier as concerns about efficient waste management practices grow. As a result, manufacturers are concentrating on integrating various technologies to boost the productivity and efficiency of their services. Garbage collection truck manufacturers are also concentrating on introducing a variety of technological advancements, such as enhancing efficiency by decreasing downtime and increasing the level of automation.
According to data from the World Bank, there were 2.01 billion tonnes of solid waste produced in 2016, and due to urbanization and population expansion, this number is expected to increase to 3.4 billion tonnes by 2050. As a result, authorities have tightened the rules governing the management of municipal and industrial garbage. Manufacturers are exploring new ways to extend the life as well as imbibe additional features such as real-time monitoring and the addition of several new equipments for the collection of waste from streets and segregation. This is expected to create a positive impact on the garbage collection truck market.
Global Market Size
USD 4.15 billion
Urban Garbage Treatment
Building Mining Industry
more than 4.05% CAGR
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The Global Garbage Truck Bodies Market is segmented based on the Product, Application, End User and region. Based on the Product Type, the Global Garbage Truck Bodies Market is segmented as Front Loader, Rear Loader, Side Loader, and Others. Based on the Application Market is segmented as Urban Garbage Treatment, Building and mining industry, and others. Based On End User, the Global Garbage Truck Bodies Market is segmented as Municipal Garbage, Industrial Garbage, and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
Based on Product Type, the market is bifurcated into Front Loaders, Rear Loaders, and Side Loaders. In 2021, the market segment with the most market share was rear loaders. The most recent back loaders also offer a lot of storage space and are fuel-efficient. These elements are to blame for this segment's supremacy. The more evenly distribute the load across the truck body. The most recent back loaders also offer a lot of storage space and are fuel-efficient. These elements are to blame for this segment's supremacy. Due to the growing use of automated side loaders, the side loaders market sector is also anticipated to rise strongly (ASL).
Analysis by Application
Based on the Application Market is segmented as Urban Garbage Treatment, Building and mining industry, and others. In 2021, the market was largely dominated by the urban rubbish treatment segment. The expansion of this market is being driven by increased financial resources being allocated and careful planning for the collection, transportation, and treatment or disposal of solid waste in emerging nations.
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Asia Pacific region held the largest market share during the forecast period and is expected to show higher CAGR in coming years. This is mainly due to the increasing consumer awareness and rising solid waste management practices. Also, Additionally, the exponential rise in the manufacturing of municipal solid trash in nations like China and India has led them to support educational initiatives, put in place incentive schemes, create legal frameworks, and enhance garbage management tactics. Due to these characteristics, this area will have the highest worldwide market share and the highest demand for garbage truck bodywork.
The second-highest market position is held by North America due to its growing industrialization. Additionally, it is projected that the deployment of electric garbage trucks and increasing pollution standards will support market growth. China places great importance on environmental protection and has allocated a sizable sum of money to the modernization of its infrastructure. India has also undertaken several significant programs to promote cleanliness, such as the long-term, high-budget "Swachh Bharat" program.
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Global Garbage Truck Bodies Market is relatively consolidated in nature, with a few levels of competition. A few of the key players operating in the garbage trucks market are: Cummins Inc., Liebherr, EZ-Pack, ETF HOLDING B.V. they are consistently launching new products and applying new strategies to stay remain in the market.
Top Player's Company Profiles
With this delivery of hydrogen sanitation equipment as a new starting point, Fulongma will further deepen its cooperation with Zhoushan Liuyang in hydrogen sanitation equipment and smart city, contribute to the development goal of strength, vitality and charm
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Garbage Truck Bodies Market Analysis, in terms of Product, the rear loaders segment held the largest market share. In terms of Application, Urban garbage treatment has dominated the market in 2021. Among the regions, Asia Pacific has exhibited substantial growth in the global market. Garbage collection truck manufacturers are also concentrating on introducing a variety of technological advancements, such as enhancing efficiency by decreasing downtime and increasing the level of automation.
|Market size value in 2021||USD 4.15 billion|
|Market size value in 2028||USD 5.07 billion|
|Growth Rate||more than 4.05%|
|Forecast period||2022- 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Garbage Truck Bodies Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Garbage Truck Bodies Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20V2001