Press release
Garbage Truck Market to Surpass $22.56 Billion by 2029 | Key Trends & Insights
Garbage Truck Market
How Will the Garbage Truck Market Grow by 2025 in Terms of Size and Growth?
The market size for garbage trucks has significantly increased in the past few years. It is projected to expand from $16.43 billion in 2024 to $17.38 billion in 2025, marking a compound annual growth rate (CAGR) of 5.8%. The historic growth has been propelled by factors such as urban growth and expanding population, heightened health and sanitation needs, effects of the industrial revolution, reaction to public health crisis, and efforts towards waste recycling.
What Are the Estimated Growth Rates for the Garbage Truck Industry Through 2029?
The market size of garbage trucks is predicted to significantly increase in the coming years, reaching $22.56 billion in 2029, with a CAGR of 6.7%. This surge in growth over the projection period can be credited to a focus on electric and hybrid vehicles, intelligent waste management systems, a preference for automated collection systems, application of artificial intelligence in waste classification, and an increase in handling of biodegradable waste. Key developments during the forecast period include the rise of on-demand waste collection services, the incorporation of robotics in waste management, improved waste segregation abilities, tailor-made and modular truck configurations, and advanced fleet management systems.
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What Are the Strategic Drivers Boosting Garbage Truck Market Performance?
The growing necessity for effective waste management is anticipated to fuel the expansion of the garbage truck market in the future. Waste management entails the collection, manipulation, disposal and effective handling of waste materials in a responsible manner. Garbage trucks play a crucial role in supporting waste management efforts by gathering and transporting solid waste from residential, commercial, and industrial places to appropriate disposal or treatment facilities. For instance, a report issued by the United Nations Environment Programme (UNEP), an environmental authority centred in Kenya, part of the United Nations system, projected that municipal solid waste production would rise from 2.1 billion tonnes in 2023 to 3.8 billion tonnes by 2050. Consequently, the escalating demand for waste management serves as a driving force for the growth of the garbage truck market.
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What Are the Segments in the Garbage Truck Market?
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
What Are the Key Adoption Trends in the Garbage Truck Market?
In order to reduce carbon emissions, enhance fuel efficiency, and promote environmentally-friendly waste management procedures, leading firms within the garbage truck industry are emphasizing on introducing unique solutions like electric garbage trucks. Electric garbage trucks, which are also referred to as electric refuse or trash trucks, are waste collecting vehicles that are powered by electric batteries rather than the traditional internal combustion engines. For example, in December 2023, a significant milestone in sustainable waste management was achieved in Boston when WIN Waste Innovations, a U.S. company offering commercial and residential waste removal and recycling solutions, unveiled the city's first-ever fully electric garbage trucks. Financial support for this development came not only from WIN Waste's own investments but also through a competitive grant program from the Massachusetts Department of Environmental Protection and the U.S. Environmental Protection Agency.
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Which Companies Lead the Competitive Landscape of the Garbage Truck Industry?
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
Where Are the Key Garbage Truck Market Opportunities by Region?
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
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