The global Garbage Collection Vehicle Market is expected to progress with 6.5% CAGR from 2022 to 2030.
The major driving factors of this market are growing industrialization, increasing proper waste disposal facilities globally, rising concerns about public health, growing awareness regarding environment safety, and growing governments initiatives to educate people about waste management and recycling. Additionally, the rising budgets for the development of waste recycling systems, globally, is also contributing to the growth of this market.
The lack of standard protocols for the development of garbage collection vehicle and the high initial cost of the truck are considered as the key restraining factors of this market. However, the growing product innovations, coupled with technological advancements in garbage collection vehicle across the globe, increasing demand for electric waste collection vehicles, and improving economy are providing lucrative new opportunities for the growth of this market.
The global garbage collection vehicle market is projected to witness significant growth during the study period due to improving technology and growing adoption of IoT and sensors in garbage collection vehicles.
A garbage collection vehicle, also known as waste collection vehicle or refuse collection vehicle, is specially designed to collect residential and non-residential garbage. The collected garbage is then hauled to a solid waste treatment facility. These vehicles are equipped with a front or rear compartment, where the waste is collected. The collection of garbage or waste is done by using different loader mechanisms such as a front loader or a top loader.
The Prominent Players in the global garbage collection vehicle market are Heil Environmental (US), Geesink B.V. (the Neatherlands), Pak-Mor. (US), Dennis Eagle Limited (UK), IVECO S.p.A., (Italy), Dulevo International S.p.A. (Italy), FAUN Umwelttechnik GmbH & Co. KG (Germany), CEEC TRUCKS INDUSTRY CO., LIMITED (China), Bridgeport Manufacturing (US), and Zoomlion Heavy Industry Science and Technology Co., Ltd (China).
Segmentation: Global Garbage Collection Vehicle Market
The global garbage collection vehicle market is segmented on the basis of loader type, technology, vehicle type, propulsion, application, and region. On the basis of loader type, the global market has been segmented into front, rear, automated side loader, and others. On the basis of technology, the global market has been divided in to manual and semi-automatic. On the basis of vehicle type, the global market has been divided into light-duty and heavy-duty vehicles. On the basis of propulsion, the global market has been divided into ICE and electric, whereas the electric vehicle is further segmented into battery, plug-in hybrid, and hybrid electric vehicle. On the basis of application, the global market has been divided into residential and non-residential.
Geographically, the global garbage collection vehicle market has been segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the largest market share during the forecast period owing to the increasing population and growing awareness about the importance of garbage collection in a safe manner. Furthermore, the growing infrastructure and industries, large population, and increasing production and consumption of goods across the country are accelerating the growth of the global market. North America is projected to grow at a significant rate during the forecast period owing to the development of advanced technology, stable economy, and presence of major key manufacturers, across the region.
The report for global garbage collection vehicle market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||2030: Significant Value|
|CAGR||6.5% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Loader Type, Technology, Vehicle Type, Propulsion, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Heil Environmental (US), Geesink B.V. (the Neatherlands), Pak-Mor. (US), Dennis Eagle Limited (UK), IVECO S.p.A., (Italy), Dulevo International S.p.A. (Italy), FAUN Umwelttechnik GmbH & Co. KG (Germany), CEEC TRUCKS INDUSTRY CO., LIMITED (China), Bridgeport Manufacturing (US), and Zoomlion Heavy Industry Science and Technology Co., Ltd (China).|
|Key Market Opportunities||
|Key Market Drivers||
The garbage collection vehicle market can value at 6.5% CAGR in the review period.
The garbage collection vehicle market can attain a high considerable valuation by 2030.
Bridgeport Manufacturing (US), Technology Co., Ltd (China), and Zoomlion Heavy Industry Science are some major players of the garbage collection vehicle market.
The growing concern of public health can impel the garbage collection vehicle market expansion.
MRFR study states that the garbage collection vehicle market in North America can gain high profits.