PUBLISHER: The Business Research Company | PRODUCT CODE: 1619560
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619560
Electric waste collection trucks are specialized vehicles designed to collect and transport waste powered by electric motors instead of traditional internal combustion engines. They offer increased energy efficiency and operational cost savings while supporting sustainable urban waste management.
The main types of electric waste collection trucks are rear loader trucks, side loader trucks, front loader trucks, automated side loader trucks, mini electric trucks, and hybrid electric trucks. Rear loader trucks are waste collection vehicles designed with a compaction mechanism at the rear. These trucks come in different capacities, such as less than 500 kg, 500-800 kg, and more than 800 kg, and are suited for various end uses, including municipal garbage, industrial garbage, and others.
The electric waste collection trucks market research report is one of a series of new reports from The Business Research Company that provides electric waste collection trucks market statistics, including electric waste collection trucks industry global market size, regional shares, competitors with an electric waste collection trucks market share, detailed electric waste collection trucks market segments, market trends and opportunities, and any further data you may need to thrive in the electric waste collection trucks industry. This electric waste collection truck market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electric waste collection trucks market size has grown exponentially in recent years. It will grow from $0.17 billion in 2023 to $0.21 billion in 2024 at a compound annual growth rate (CAGR) of 20.2%. The growth during the historical period can be attributed to stricter environmental regulations, rising fuel costs, increasing urbanization, the need to reduce emissions, and government incentives for green technologies.
The electric waste collection trucks market size is expected to see exponential growth in the next few years. It will grow to $0.43 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth during the forecast period can be attributed to the expansion of charging infrastructure, increased adoption of smart city initiatives, higher government funding for green initiatives, greater operational cost benefits of electric vehicles, and continued growth in municipal and commercial waste management needs. Key trends in this period include the integration of autonomous driving technology, improvements in energy storage solutions, the expansion of electric vehicle fleets, the adoption of advanced waste sorting systems, and the development of faster and more efficient charging technologies.
The increasing waste generation is anticipated to drive the growth of the electric waste collection truck market. Waste generation encompasses the production of waste materials from various human activities, including residential, industrial, and commercial processes. This increase is largely due to rising urbanization, which heightens demand for disposable products and packaging, and rapid technological advancements, resulting in more electronic waste. Electric waste collection trucks address these challenges by reducing emissions and noise, and lowering operational costs, contributing to more sustainable waste management. For example, in February 2024, the United Nations Environment Programme (UNEP) reported that municipal solid waste is projected to rise from 2.1 billion metric tons in 2023 to 3.8 billion metric tons by 2050. Consequently, the surge in waste generation is expected to propel the electric waste collection truck market.
Leading companies in the electric waste collection truck market are focusing on developing advanced products, such as all-electric commercial waste collection vehicles, to improve operational efficiency and minimize environmental impact. An all-electric commercial waste collection vehicle is a battery-powered truck designed for waste management that eliminates emissions and reduces noise while enhancing energy efficiency. For instance, in November 2023, Grundon Waste Management Ltd, a UK-based provider of integrated waste management and environmental services, introduced the UK's first all-electric waste collection vehicle, a Scania model, for zero-carbon waste collections in Reading and Newbury. This initiative includes two electric vehicles, one serving commercial clients in London and the Thames Valley from Colnbrook, and the other based in Bristol. These vehicles are powered by electricity generated from the waste they collect, utilizing Grundon's Energy from Waste (EfW) facility for sustainable operations. Additionally, Grundon is investigating alternative fuels such as hydrogen and hydrotreated vegetable oil (HVO) to further reduce its environmental impact and enhance urban air quality.
In July 2024, Terex Corporation, a US-based manufacturer of lifting and material-handling equipment, acquired Environmental Solutions Group (ESG) for $2.0 billion. This acquisition aims to bolster Terex's position in the electric waste collection truck market by leveraging ESG's expertise and innovations in waste collection technology. Environmental Solutions Group (ESG) is a US-based manufacturer specializing in waste management equipment, including waste collection vehicles.
Major companies operating in the electric waste collection trucks market are Ford Motor Company, Hyundai Motor Company, Tesla Inc., BYD Company Limited, Volvo Trucks Corporation, PACCAR Inc., Isuzu Motors Limited, Scania AB, Iveco S.p.A., Hino Motors Ltd., MAN Truck & Bus SE, Navistar International Corporation, Rivian Automotive Inc., Mack Trucks Inc., E-One Inc., Transpower Inc., Proterra Inc., Dennis Eagle Ltd., Mercedes-Benz Group AG, Lion Electric Co., Greesinknorba B.V., Eicher Trucks and Buses Limited, Curbtender Inc., Bollinger Motors Inc., Wrightspeed Inc.
North America was the largest region in the electric waste collection trucks market in 2023. The regions covered in the electric waste collection trucks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electric waste collection trucks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electric waste collection trucks market consists of sales of compact electric trucks, fully automated electric trucks, and electric drivetrain components, and waste compaction systems. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electric Waste Collection Trucks Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric waste collection trucks market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electric waste collection trucks ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric waste collection trucks market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.