Waste Collection Trucks Market Potential Forecast 2017 - 2025
The global waste collection trucks market is anticipated to testify a surge in demand as a result of increasing application in industrial waste management systems. The demand could gain strength as voluntary instructions for these systems have already been issued by the EPA and state governments. Note that these authorities have expressed their concerns over untreated disposal of effluents and solid waste and evaluated the seriousness of the problems arising as a result of it. Another factor that is projected to create handsome growth opportunities in the market could be technological advancement responsible for improving the operational efficiency of waste collection trucks.
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Global Waste Collection Trucks Market: Trends and Opportunities
Growing worries about industrial waste being created at an alarming rate, especially in North America due to its massive industrial base, are foreseen to spur the demand for waste collection trucks in the coming years. With industrialization rising at a soaring rate, waste generation has been continuously gaining momentum, thus stimulating the requirement of powerful industrial waste management systems. Colossal amounts of solid and liquid waste are generated in construction, food and beverage, chemical, automotive, and other manufacturing sectors.
Today, waste collection trucks do not lag behind in terms of technology. Waste segregation, novel waste collection equipment, real-time monitoring, and other advanced features have already been added to waste collection trucks.
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Global Waste Collection Trucks Market: Market Potential
Surrey, British Columbia’s Port Kells industrial area now has a new biofuel facility that is worth a C$68 million. Opened in March 2018, the facility is said to be North America’s first closed-loop organic waste management system that is fully integrated, according to the City of Surrey. It will provide fuel to waste service and collection vehicles powered by natural gas by converting curbside organic waste into renewable biofuel. One could imagine waste collection trucks picking up their fuel source at curbside, under this closed-loop system.
Global Waste Collection Trucks Market: Regional Analysis
The international waste collection trucks market is foretold to become more prominent in North American countries such as the U.S. due to the strong presence of various industries. However, Europe could catch up with the growth of North America because of stringent environmental regulations imposed in the region looking at the pollution levels rising globally. Adoption of electric and CNG-based waste collection trucks could be on the rise due to the fuel inefficiency of diesel-based trucks. Other factors that are envisioned to help Europe to gain growth include the stable rise of the residential sector, large industrial base, and snowballing waste generation per capita.
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Global Waste Collection Trucks Market: Companies Mentioned
Some of the leading names of the international waste collection trucks market are FAUN Umwelttechnik GmbH & Co. KG, Dulevo International, Iveco, Dennis Eagle, and Geesinknorba.
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