Press release
Garbage Truck Market Size Projected To Reach $23.54 Billion By 2034 With A Cagr Of 7.6%
Garbage Truck
What Is the Projected Growth of the Garbage Truck Market?
In the past few years, there has been notable growth in the size of the garbage truck market. The market is predicted to expand from a value of $16.43 billion in 2024 to $17.56 billion in 2025, displaying a compound annual growth rate (CAGR) of 6.9%. The escalation during the historical period is attributed to factors such as urbanization and the growth of population, health and sanitation issues, the effects of the industrial revolution, responses to public health crises, and initiatives towards waste recycling.
In the upcoming years, the market for garbage trucks is predicted to witness substantial growth, culminating in a valuation of $23.54 billion in 2029, at a CAGR of 7.6%. The expected growth during the forecast period can be credited to a transition towards electric and hybrid vehicles, advanced waste management systems, the demand for automated collection systems, the employment of AI in waste sorting, and an increase in the handling of biodegradable waste. The forecast period will observe prominent trends such as the prevalence of on-demand waste collection services, the integration of robotics in waste handling, enhanced waste segregation abilities, the availability of modular and customizable truck designs, and the introduction of smart fleet management systems.
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What Are the Different Garbage Truck Market 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
Subsegments:
1) By Front Loaders: Commercial Front Loaders, Residential Front Loaders
2) By Rear Loaders: Standard Rear Loaders, Automated Rear Loaders
3) By Side Loaders: Automated Side Loaders, Manual Side Loaders
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What Are the Primary Drivers Shaping the Garbage Truck Market?
The garbage truck market's growth is expected to be fueled by the increasing requirement for waste management. The waste management process involves effectively and responsibly collecting, processing, disposing, and managing waste materials. Garbage trucks play a crucial role in waste management as they gather and transport solid waste from residential areas, businesses, and industries to the proper disposal or treatment facilities. For instance, a report by the United Nations Environment Programme (UNEP), a Kenya-based environmental authority under the United Nations system, predicted in 2024 that municipal solid waste generation would rise from 2.1 billion tonnes in 2023 to 3.8 billion tonnes by 2050. Consequently, the increasing need for waste management is propelling the garbage truck market's growth.
Which Companies Are Leading in the Garbage Truck Market?
Major companies operating in the garbage truck market include 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
What Are the Major Trends Shaping the Garbage Truck Market?
Key players in the garbage truck market are concentrating their efforts on creating progressive solutions, like electric garbage vehicles, to lower carbon footprints, enhance fuel competency, and encourage eco-friendly waste management methods. These electric garbage trucks, also called electric refuse trucks or electric trash trucks, are powered by electric batteries rather than traditional fossil fuel engines. For instance, a significant stride towards sustainable waste management was taken in December 2023, when WIN Waste Innovations, a US-based firm providing commercial and residential waste removal and recycling services, launched the first fully electric garbage vehicles in Boston. The Massachusetts Department of Environmental Protection and the U.S. Environmental Protection Agency backed the initiative through a competitive grant scheme, enhancing WIN Waste's own investment.
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What Are the Top Revenue-Generating Geographies in the Garbage Truck Market?
North America was the largest region in the garbage truck market in 2024. The regions covered in the garbage truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Garbage Truck Market?
2. What is the CAGR expected in the Garbage Truck Market?
3. What Are the Key Innovations Transforming the Garbage Truck Industry?
4. Which Region Is Leading the Garbage Truck Market?
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