Newark, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The global waste or garbage collection vehicle market is expected to grow from USD 7.52 Billion in 2022 to USD 11.70 Billion by 2032, at a CAGR of 4.52% during the forecast period 2022-2030. The global market for waste collection vehicles is anticipated to be driven mainly by factors such as the consistent increase in the generation of waste due to rapid population growth across urban centers, required regulatory requirements being executed, multiple legislations stipulated by governmental authorities, and an urgent need for fleet advancement. Furthermore, new government cleaning efforts, as well as the growing popularity of public-private partnerships between the government and private businesses, are likely to drive demand for garbage collection trucks.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 7.52 Billion |
| Market Size in 2032 | USD 11.70 Billion |
| CAGR | 4.52% |
| No. of Pages in Report | 236 |
| Segments Covered | Loader Type, Vehicle Type and Application |
| Drivers | An increasing amount of municipal waste |
| Opportunities | A growing number of smart city initiatives |
| Restraints | Low investment in under-developed regions |
The rear loaders segment dominated the market with a market share of around 28.91% in 2022.
The loader type segment is divided into front loaders, automated side loaders [ASL], rear loaders, grapple trucks, and pneumatic collection. The rear loaders segment dominated the market with a market share of around 28.91% in 2022. A single operator is required for the rear loader trash vehicle. It is not necessary to have a second person physically empty the garbage can. Overheads are decreased when there is only one operator. It also eliminates the frequent injuries caused by other types of loaders. Irregular streets, such as curving roadways, benefit from rear loaders as well. This expands the capacity to appeal to places that were previously unattainable.
The medium-duty vehicle segment will account for the largest share of the market over the forecast period.
The vehicle type segment is divided into light-duty vehicle, heavy-duty vehicle and medium-duty vehicle. In 2022, the medium-duty vehicle segment accounted for the largest share of the market, with 39.73%. Increased per capita revenue, combined with economic expansion, has fueled the sale of medium and heavy-duty vehicles around the world in order to meet the increased demand for technological developments that improve the collection methods, separation of wet and dry waste, and increased transparency. As a result, the population's preference for having a car is projected to grow, increasing the demand for medium-duty automobiles.
The urban garbage treatment segment accounted for the largest share of the market waste or garbage collection vehicle in 2022.
The application segment is divided into urban garbage treatment, industry, building and mining. The urban garbage treatment segment dominated the market with a market share of around 36.19% in 2022. This growth was attributed to the fast growth of the world's metropolitan population and hence the overall garbage created by these individuals. Apart from that, the increasing attention of manufacturers on improving the procedure of garbage pickup in urban areas is expected to promote the market segment's growth.
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Regional Segmentation Analysis:
The market is analyzed based on five regions, namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region emerged as the largest market for the global waste or garbage collection vehicle market, with a 2.97 billion market revenue in 2021. Waste collection vehicles are in high demand in Asia Pacific markets, owing to rising urbanization and the implementation of smart cities in countries such as India and China, which necessitate advanced sewage treatment infrastructure and services, as well as concerns about health risks posed by the ever-increasing quantity of waste generated on a regular basis.
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Competitive Analysis:
The major players in the market include AUTOCAR, LLC., EOW INTERNATIONAL COLLABORATION & MANUFACTURING LLC, AMS Spa, GEP ECOTECH CO., LTD., AB NARPES TRA & METALL – NTM, Ecozeta S.R.L., FAUN Umwelttechnik Gmbh & Co. KG, Mecagil-Lebon, Environmental Solutions Group, Fratelli Mazzocchia Spa, Hidro-Mak, MS DORSE, TERBERG ROSROCA GROUP, Shandong Wuzheng Group Co., Ltd., Nord Engineering S.R.L. among others.
About the report:
The global pharmaceutical packaging market is analysed on the basis of value (USD billion).All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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