Global Utility Trucks Market Size Study, by Type (Garbage Truck, Fire Truck, Dump Truck, Sweeper Truck), by Engine (ICE, Electric), and Regional Forecasts 2022-2032

Description

The Global Utility Trucks Market was valued at USD 69.63 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% over the forecast period from 2024 to 2032. Utility trucks play a pivotal role across diverse sectors such as construction, mining, waste management, and emergency services. With increasing global urbanization and stringent government regulations aimed at enhancing public infrastructure, the demand for utility trucks has soared. For instance, the Infrastructure Investment and Jobs Act in the U.S. and the global emphasis on waste management policies have contributed to significant growth in the utility truck segment.

The adoption of dump trucks is particularly dominant due to their critical role in construction and mining activities, claiming a significant market share in 2023. In parallel, the garbage truck segment is propelled by the rising awareness of solid waste management, with municipal solid waste generation expected to reach 3.8 billion tonnes by 2050, as highlighted by the UNEP's Global Waste Management Outlook 2024.

The increasing shift towards electric utility trucks due to carbon neutrality goals and incentives for electric vehicle adoption also underlines a transformative phase for the market. Electric utility trucks are gaining traction because of their lower fuel and maintenance costs, alongside growing environmental concerns such as greenhouse gas emissions. These developments are expected to significantly shape the market dynamics during the forecast period.

The regional dynamics reveal North America as a stronghold, buoyed by its robust infrastructure development initiatives and stringent environmental compliance requirements. However, the Asia Pacific region dominates in revenue share, driven by rapid urbanization, industrial expansion, and public health investments in waste management systems. Europe is also witnessing substantial growth, spearheaded by the adoption of alternative fuel and electric utility trucks to achieve net-zero emissions.

Major market players are leveraging innovations and partnerships to capture a larger share of this burgeoning market. Companies like Daimler Truck AG, Ford Motor Company, and Mack Trucks are at the forefront of this transformation, rolling out cutting-edge electric and hybrid utility truck models.

Major market players included in this report are:

Daimler Truck AG
Ford Motor Company
General Motors
FCA US LLC
Toyota Motor Corporation
Isuzu Motors Limited
Nissan USA
Volkswagen Group
Mack Trucks
Navistar, Inc.
PACCAR Inc
AB Volvo
CNH Industrial N.V.
Ashok Leyland
Hyundai Motor Company

The detailed segments and sub-segments of the market are explained below:

By Type

Garbage Truck
- Front Loader
- Rear Loader
- Side Loader
Fire Truck
Dump Truck
Sweeper Truck
- Street Sweeper
- Parking Lot Sweeper

By Engine

ICE (Diesel/Gasoline/CNG/Hybrid)
Electric

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Middle East & Africa
South Africa
Saudi Arabia
UAE

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Utility Trucks Market Executive Summary

1.1. Global Utility Trucks Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Engine
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Utility Trucks Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Utility Trucks Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Municipal Budgets for Infrastructure Development
- 3.1.2. Rising Adoption of Electric Utility Trucks
- 3.1.3. Growing Focus on Solid Waste Management
3.2. Market Challenges
- 3.2.1. High Initial Costs of Electric Utility Trucks
- 3.2.2. Stringent Regulations on ICE Emissions
3.3. Market Opportunities
- 3.3.1. Innovations in Electric Utility Truck Technology
- 3.3.2. Expansion in Emerging Markets

Chapter 4. Global Utility Trucks Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Utility Trucks Market Size & Forecasts by Type (2022-2032)

5.1. Segment Dashboard
5.2. Global Utility Trucks Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Garbage Trucks
- 5.2.2. Fire Trucks
- 5.2.3. Dump Trucks
- 5.2.4. Sweeper Trucks

Chapter 6. Global Utility Trucks Market Size & Forecasts by Engine (2022-2032)

6.1. Segment Dashboard
6.2. Global Utility Trucks Market: Engine Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. ICE (Diesel/Gasoline/CNG/Hybrid)
- 6.2.2. Electric

Chapter 7. Global Utility Trucks Market Size & Forecasts by Region (2022-2032)

7.1. North America Utility Trucks Market
- 7.1.1. U.S. Utility Trucks Market
- 7.1.2. Canada Utility Trucks Market
- 7.1.3. Mexico Utility Trucks Market
7.2. Europe Utility Trucks Market
- 7.2.1. U.K. Utility Trucks Market
- 7.2.2. Germany Utility Trucks Market
- 7.2.3. France Utility Trucks Market
- 7.2.4. Spain Utility Trucks Market
- 7.2.5. Italy Utility Trucks Market
- 7.2.6. Rest of Europe Utility Trucks Market
7.3. Asia Pacific Utility Trucks Market
- 7.3.1. China Utility Trucks Market
- 7.3.2. India Utility Trucks Market
- 7.3.3. Japan Utility Trucks Market
- 7.3.4. Australia Utility Trucks Market
- 7.3.5. South Korea Utility Trucks Market
- 7.3.6. Rest of Asia Pacific Utility Trucks Market
7.4. Latin America Utility Trucks Market
- 7.4.1. Brazil Utility Trucks Market
- 7.4.2. Rest of Latin America Utility Trucks Market
7.5. Middle East & Africa Utility Trucks Market
- 7.5.1. Saudi Arabia Utility Trucks Market
- 7.5.2. South Africa Utility Trucks Market
- 7.5.3. Rest of Middle East & Africa Utility Trucks Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Daimler Truck AG
- 8.1.2. Ford Motor Company
- 8.1.3. Mack Trucks
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Daimler Truck AG
- 8.3.2. Ford Motor Company
- 8.3.3. Mack Trucks
- 8.3.4. Isuzu Motors Limited
- 8.3.5. Toyota Motor Corporation
- 8.3.6. Nissan USA
- 8.3.7. Volkswagen Group
- 8.3.8. Navistar, Inc.
- 8.3.9. PACCAR Inc
- 8.3.10. AB Volvo
- 8.3.11. Ashok Leyland
- 8.3.12. Hyundai Motor Company

Chapter 9. Research Process

9.1. Research Process Overview
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes