PUBLISHER: The Business Research Company | PRODUCT CODE: 1619599
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619599
A garbage collection truck is a specialized vehicle used for collecting, transporting, and disposing of waste materials from residential, commercial, and industrial areas. These trucks come equipped with mechanisms for loading, compacting, and unloading waste, which improves the efficiency of waste management operations.
The main types of garbage collection trucks include front loaders, rear loaders, and side loaders. Front loaders are designed to provide efficient waste collection and disposal. They can be operated using various technologies, such as semi-automatic, automatic, and other systems, to cater to different end users, including municipal waste, industrial waste, and other waste management needs.
The garbage collection truck market research report is one of a series of new reports from The Business Research Company that provides garbage collection truck market statistics, including garbage collection truck industry global market size, regional shares, competitors with a garbage collection truck market share, detailed garbage collection truck market segments, market trends and opportunities, and any further data you may need to thrive in the garbage collection truck industry. This garbage 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 garbage collection truck market size has grown strongly in recent years. It will grow from $13.23 billion in 2023 to $14.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed during the historic period can be attributed to several factors, including increased urbanization, population growth, environmental regulations, economic development, infrastructure expansion, enhanced waste segregation, and greater private sector involvement.
The garbage collection truck market size is expected to reach strong growth in the next few years. It will grow to $18.86 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth during the forecast period can be attributed to several factors, including the increasing adoption of smart city initiatives, a rise in municipal solid waste generation, growing consumer awareness of the harmful effects of open dumping, heightened public concern about sustainability, and increasing automation across various industrial sectors. Key trends expected during this period include the integration of smart waste management systems, modernization of garbage truck fleets with connectivity, telematics integration, development of more efficient and cost-effective garbage truck models, and the incorporation of technological advancements.
The increasing generation of municipal solid waste is anticipated to drive growth in the garbage collection truck market. Municipal solid waste encompasses the daily waste produced by households, businesses, and institutions within municipalities, including food waste, paper, plastics, and yard trimmings. This rise in waste generation is attributed to population growth and urbanization, which are leading to higher waste concentrations in cities and increased overall waste production. Garbage collection trucks play a vital role in managing this waste by efficiently collecting, transporting, and disposing of it, thereby ensuring cleanliness and supporting effective waste management. For example, in February 2024, the United Nations Environment Programme reported a sharp increase in global municipal solid waste generation, with estimates showing a rise from 2.1 billion metric tons in 2023 to 3.8 billion metric tons by 2050. This growing waste production is expected to further drive the demand for garbage collection trucks.
Leading companies in the garbage collection truck market are increasingly focusing on innovation, particularly the development of hydrogen-powered waste collection vehicles to reduce emissions and promote environmental sustainability. These hydrogen-powered trucks use fuel cells to generate electricity, producing only water vapor as emissions, and present a cleaner alternative to traditional diesel-powered vehicles. For instance, in September 2022, PreZero Nederland, a Netherlands-based waste and recycling management company, introduced a hydrogen-powered waste collection truck as part of the HECTOR project in North-West Europe. This truck operates with zero harmful emissions and can refuel with up to fifteen kilos of hydrogen, enabling it to run for two days while collecting waste from underground containers. This launch reflects PreZero's commitment to reducing CO2 emissions in waste management and aligns with European environmental regulations aimed at minimizing emissions. The HECTOR project seeks to gather data on the real-world performance of hydrogen vehicles, which will guide future decisions on sustainable waste collection practices in the Netherlands.
In April 2022, Dover Corporation, a US-based manufacturer of industrial equipment and technology solutions, acquired specific intellectual property from Boivin Evolution Inc. for an undisclosed sum. This acquisition is intended to bolster Dover's capabilities in the automation and robotics sector, thereby expanding its product offerings and market presence. Boivin Evolution Inc., based in Canada, is a technology and manufacturing company that focuses on designing and producing innovative equipment for garbage collection trucks.
Major companies operating in the garbage collection truck market are Volvo Truck Corporation, Isuzu Motors Limited, Hino Motors Ltd., Mitsubishi Fuso Truck and Bus Corporation, Terex Corporation, Heil Environmental Industries Ltd., Mack Trucks Inc., Peterbilt Motors Company, Wastequip LLC, Bucher Municipal AG, International Truck and Engine Corporation, Freightliner Trucks, Autocar LLC, McNeilus Companies Inc., New Way Trucks Inc., Avery Weigh-Tronix LLC, TerraCycle Inc., AMREP Inc., Sullivan-Palatek Inc., Curbtender Inc., RDK Truck Sales Inc.
North America was the largest region in the garbage collection truck market in 2023. The regions covered in the garbage collection truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the garbage collection truck market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The garbage collection truck market consists of sales of roll-off trucks, grapple garbage trucks, split-body trucks, and automated side loader (ASL) garbage trucks. 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.
Garbage Collection Truck 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 garbage collection truck 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 garbage collection truck ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The garbage collection truck 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.