Press release
Garbage Collection Trucks Market Sales Forecasts Reveal Positive Growth Through 2029
The global sales of garbage collection trucks reached ~62,155 (units) in 2018, as revealed by the latest report on the garbage collection trucks market by PMR. According to the analysis, the garbage collection trucks market is projected to grow at ~4% CAGR during the forecast period. Rising demand for garbage collection trucks from municipal and industrial sectors is likely to propel the garbage collection trucks market growth during the forecast period.According to the detailed research and deep study, increasing industrial activities & huge waste generation across the globe has led to the growth of the garbage collection trucks market. Moreover, heavy demand for refuse trucks for municipal and industrial garbage collection applications is set to directly contribute to the growth of the garbage collection trucks market during the forecast period.
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Significant demand for automatic garbage collection trucks is contributing to the growth of the garbage collection trucks market throughout the forecast period. The global garbage collection trucks market value is projected to be ~US$ 7 Bn by the end of 2019, and is expected to grow ~1.3X by the end of the 2029.
Intensifying Competition Pushing Market Consolidation
In December 2017, Heil, an Environmental Solutions Group company, announced the expansion of its dealership network, with the addition of New Hampshire and Vermont.
Furthermore, the garbage collection trucks market is significantly fragmented. In order to sustain the intense market competition, merger & acquisition strategies are implemented. Moreover, many manufacturers are focusing on the expansion of their production capabilities for garbage collection trucks, which in turn, propels the growth of the garbage collection trucks market in the forecast period.
Steady Demand from the Municipal Waste Management Sector
As per PMR’s deep dive analysis, key players in the garbage collection trucks market are offering garbage collection trucks with characteristic properties, based on product type, such as front loader, rear loader, and side loader. Maximum demand for garbage collection trucks is from the municipal end-use industry, followed by industrial, which will result in heavy surge in the garbage collection trucks market growth during the forecast period.
China to Hold Significant Market Share
Owing to factors such as rapid industrial growth, urbanization, stable political backdrop, and governmental regulations in the country, China is expected to hold a prominent market share in the garbage collection trucks market during the forecast period.
Presence of major market players in the country and entrants in merger & acquisition activities are key factors pushing the growth of the garbage collection trucks market in China.
Garbage Collection Trucks Market: Vendor Insights
McNeilus Truck & Manufacturing, Inc. Overview
Zoomlion Heavy Industry Science & Technology Co., Ltd.
Fujian Longma Environmental Sanitation Equipment Co., Ltd
Dongfeng Motor Corporation
Heil – An Environmental Solutions Group Company
PAK-MOR LTD.
FAUN Umwelttechnik GmbH & Co.KG
EZ-Pack Refuse Hauling Solutions, LLC
Labrie Enviroquip Group
Bridgeport Manufacturing
Dennis Eagle Inc.
Geesinknorba Ltd.
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A majority of market participants active in the garbage collection trucks market are adopting various strategies related to the demand point of view, from manufacturers and buyers. Significant developments & latest innovations and investments in R&D to enrich product portfolio are seen in the market. For instance, in 2017, McNeilus Truck & Manufacturing, Inc. launched enhanced products under its product line Meridian Front loader and Zero radius side loader trucks.
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Our analysts customize the research methodology according to the market in question in order to take into account the unique dynamics that shape the industry.
Our proprietary research methodologies are designed to accurately predict the trajectory of a particular market based on past and present data.
PMR’s typical operational model comprises elements such as distribution model, forecast of market trends, contracting and expanding technology applications, pricing and transaction model, market segmentation, and vendor business and revenue model.
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