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Garbage Truck Bodies Market revenue to reach USD 21.89 Billion by 2033, The Business Research Company
Garbage Truck Bodies Market
The garbage truck market size is expected to see strong growth in the next few years. It will grow to $21.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to shift towards electric and hybrid vehicles, smart waste management systems, demand for automated collection systems, adoption of ai in waste sorting, rise in biodegradable waste handling. Major trends in the forecast period include on-demand waste collection services, robotics integration in waste handling, enhanced waste segregation capabilities, modular and customizable truck designs, smart fleet management systems.
Market Overview -
A garbage truck is a vehicle created specifically to collect and transfer solid waste to a place for recycling. It is designed to collect efficiently and hygienically, compress, and transport distinct kinds of waste, including garbage from homes, corporate, and industrial. They support the upkeep of cleanliness, hygienic conditions, and environmental sustainability in communities by ensuring proper waste management practices.
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Growing Need For Waste Management To Fuel Market Expansion
The rising need for waste management is expected to propel the growth of the garbage truck market going forward. Waste management is the process of gathering, handling, getting rid of, and managing waste products effectively and responsibly. Garbage trucks are helpful for waste management to collect and transport solid garbage from homes, businesses, and industrial areas to facilities for proper disposal or treatment. For instance, in July 2021, according to an article published by the World Bank, a US-based international organization that provides financing, advice, and research to developing nations, the waste generated in 2020 was estimated to be 2.24 billion tons of solid waste, which amounted to a footprint of 0.97 kilograms of waste per person per day. Furthermore, with the rapid growth of population and urbanization, annual waste generation is set to see an increase of 73%, amounting to 3.88 billion tons by 2050. Therefore, the rising need for waste management is driving the growth of the garbage truck market.
Competitive Landscape -
Major companies operating in the garbage truck market report are Tata Ltd., Mack Trucks Inc., Bucher Municipal, FAUN Zoeller, Dennis Eagle Ltd., McNeilus Companies Inc., Heil Environmental Industries Ltd.,Labrie Enviroquip Group, Peterbilt, Curbtender Inc., EZ Pack Refuse Hauling Solutions, Haul-All Equipment Ltd., Bridgeport Manufacturing Inc., Volvo Group, Jesco Industries Inc., Cardinal Carryor, Superior Pak Pty Ltd., Vecoplan LLC, New Way Trucks, Papas Waste Equipment International Pty Ltd., Russ Engineering Pty Ltd., Amrep Inc., Meyer Material Handling Products Inc., Aman Cleaning Equipments Pvt. Ltd., Warren Truck and Trailer LLC.
Product Innovations Transforming The Garbage Truck Market
Major companies operating in the garbage truck market are developing new products such as hydrogen trucks to gain a competitive edge in the market. Hydrogen trucks, also known as hydrogen fuel cell trucks, are commercial vehicles that use hydrogen fuel cells to generate electric power for propulsion. For instance, in December 2021, Hyundai Motor Company, a South Korea-based automotive manufacturing company, launched hydrogen-powered garbage truck. The vehicle employs hydrogen storage tanks and fuel cell systems. This innovative truck contributes to cleaner streets by eliminating emissions and also provides a quieter working environment for street cleaners, with a 40% lower noise level compared to conventional garbage trucks. It is designed with a custom-made motor enabling it to efficiently navigate uphill roads while carrying a substantial 4.5 tons of garbage, despite its own weight of 9.5 tons. The hydrogen-powered garbage truck is equipped with a convenient portable sink, providing sanitation workers with a means to wash off potential pollutants encountered during their duties. Additionally, the truck features a detachable loading container, enabling a single vehicle to collect multiple garbage containers efficiently.
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Key Segments -
The garbage truck market covered in this report is segmented -
1) By Type: Front Loaders, Rear Loaders, Side Loaders
2) By Technology: Manual, Automatic, Semi-Automatic
3) By Fuel Type: Gasoline, Diesel, Electric
4) By End User: Industrial Corporations, Municipal Authorities
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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