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Refuse Truck (Garbage Handling Trucks) Market is Anticipated to Expand upto $15.14 Billion in 2029
Refuse Truck (Garbage Handling Trucks)
What Is the Forecasted Market Growth Rate of the Refuse Truck (Garbage Handling Trucks) Industry?
The market size for refuse trucks, also known as garbage handling trucks, has seen a consistent increase in recent times. The market value is projected to rise from $13.04 billion in 2024 to $13.39 billion in 2025, marking a compound annual growth rate (CAGR) of 2.6%. This notable growth during the historical period can be credited to a surge in urbanization, heightened awareness about waste management, an uptick in the automation of commercial automobiles, escalating environmental worries, a growing global population, and stricter environmental regulations.
How Will the Refuse Truck (Garbage Handling Trucks) Market Size Evolve From 2025 to 2029?
Predictions suggest that the market for refuse trucks (garbage handling trucks) will witness consistent expansion in the upcoming years, reaching a size of $15.14 billion, with a compound annual growth rate (CAGR) of 3.1% by 2029. The anticipated growth within the forecast period could be due to factors such as the escalating adoption of electric garbage trucks, growing demand for eco-friendly waste management, the need for small and easily maneuverable vehicles, increased focus on the safety of workers, and an emerging trend of public-private partnerships (PPPs). Upcoming trends within the forecast timeframe include novel technologies, sophisticated engineering solutions, innovation in diesel technology, cleaner technological advancements, enhanced charging systems, and progression in automation and telematics.
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What Are the Main Growth Drivers in the Refuse Truck (Garbage Handling Trucks) Market Today?
The increased recognition of waste management's importance is predicted to fuel the progress of the refuse truck market in the future. Waste management encompasses all the steps necessary to adequately deal with waste, from the start to the end, such as gathering, transporting, treating, and recycling. This escalated recognition for waste management can be linked to environmental and health concerns, education and public awareness programs, social accountability, and corporate participation. Refuse trucks play an integral role in waste management by efficiently collecting and conveying large quantities of waste to disposal or recycling centers, thereby reducing the necessary time and manpower for waste elimination. For instance, a report released by the United Nations Environment Programme, a US-based organization, in February 2024 revealed that the production of municipal solid waste is projected to rise from 2.1 billion tons in 2023 to 3.8 billion tons by 2050. As a result, the increased consciousness around waste management is propelling the refuse truck market forward.
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Which Refuse Truck (Garbage Handling Trucks) Market Segment Is Expected to Lead Through 2029?
The refuse truck (garbage handling trucks) market covered in this report is segmented -
1) By Type: Front Loaders, Rear Loaders, Side Loaders
2) By Fuel: Electric, Gasoline, Diesel
3) By Technology: Manual, Automatic, Semi-Automatic
4) By End-User: Municipal Garbage, Industrial Garbage, Other End Users
Subsegments:
1) By Front Loaders: Standard Front Loaders, Automated Front Loaders, Compaction Front Loaders
2) By Rear Loaders: Standard Rear Loaders, Automated Rear Loaders, Low-Profile Rear Loaders
3) By Side Loaders: Automated Side Loaders, Manual Side Loaders, Dual-Stream Side Loaders
Which Market Trends Are Expected to Dominate Refuse Truck (Garbage Handling Trucks) Industry Growth?
Prominent players in the refuse truck market are making strides towards the production of entirely electric garbage trucks, aimed at cutting down on carbon footprints, reducing running expenditures, and boosting sustainability in waste disposal processes. The term electric garbage trucks denote that these refuse collection vehicles run on electric batteries, contributing to a significant decline in emissions and noise and an increase in fuel efficiency. As an example, WIN Waste Innovations Holdings Inc., a US-based waste management organization, introduced Mack LR Electric vehicles along with wholly electric garbage trucks to the Boston community in December 2023. These vehicles operate solely based on the energy produced from the waste they handle, thus paving the way for a novel approach to not just garbage collection, but also renewable energy production. It is estimated that the shift to electric trucks will save about 12,000 gallons of diesel fuel yearly and decrease carbon dioxide equivalent emissions by nearly 122 metric tons. This move is in step with wider environmental objectives to cut down greenhouse gas emissions and dependence on fossil fuels.
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Which Companies Hold the Largest Market Share in the Refuse Truck (Garbage Handling Trucks) Sector?
Major companies operating in the refuse truck (garbage handling trucks) market are Daimler Truck Holding AG, Dongfeng Motor Corporation, Oshkosh Corporation, Zoomlion Heavy Industry Science & Technology Co. Ltd., Crane Carrier Company, Volvo Trucks North America Inc, Autocar LLC, Takuma Co. Ltd., Mack Trucks Inc., Peterbilt Motors Company, Isuzu Commercial Truck of America Inc., McNeilus Truck & Manufacturing Inc., Stellar Industries Inc., Hino Motors Manufacturing U.S.A. Inc., Labrie Enviroquip Group, New Way Ltd., Loadmaster Industries Inc, The Curbtender Inc., Scranton Manufacturing Company Inc., Spartan Motors Inc., Workhorse Group
Where Is the Refuse Truck (Garbage Handling Trucks) Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the refuse truck (garbage handling trucks) market in 2024. The regions covered in the refuse truck (garbage handling trucks) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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