Garbage Trucks Market: Introduction
- Rise in need for waste management worldwide is fueling the demand for garbage trucks accordingly
- Garbage trucks are vehicles that are designed to collect and transport municipal solid waste, industrial waste, biomedical waste, or any other such types of waste to segregation area or dumping grounds
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Key Drivers of Garbage Trucks Market
- The global population is rising consistently. According to the statistics by the United Nations, the global population is projected to reach 9.7 billion by 2050. Moreover, a large number of people are migrating toward urban areas for education, employment, or other purposes. This rise in population and urbanization has led to increased generation of waste, worldwide. In September 2018, the World Bank stated that global waste is expected to grow by 70% by 2050. This rise in generation of waste has boosted the demand for efficient waste management, which includes collection, segregation, treatment, and disposal. The primary step in waste management is waste collection, which is performed using specially designed vehicles, termed as garbage trucks. Garbage trucks, or trash trucks, or dump truck perform door-step collection of small quantities of waste and haul the collected waste to a waste treatment facility for further processing. Thus, increase in demand for waste management owing to rising population and urbanization is fueling the global garbage truck market.
- The number of construction activities is increasing across the globe amidst rising demand for housing spaces, infrastructure development, and other such requirements in order to develop livable towns. A large amount of waste is generated at these construction sites daily, which further drives the demand for waste management. Furthermore, the number of industries is increasing across the globe, which further drives the amount of waste generated, thus propelling the demand for efficient waste management system. Municipalities & government agencies are increasing their fleet of garbage trucks to handle the high flow of waste and to cater to the rising demand for waste management. Thus, an increase in amount of waste generated by industries and at construction sites is fueling the global garbage truck market.
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Challenges in Garbage Trucks Market
- Garbage trucks are off-road vehicles and require more power to operate. Therefore, garbage trucks have high initial cost and maintenance charges. These factors are restraining the global garbage truck market
Impact of COVID-19 Pandemic on Garbage Trucks Market
- The COVID-19 pandemic disrupted economies of all the affected nations. Rise in number of patients detected and admitted in hospitals is further driving the amount of bio-medical waste that is generated. This increase in waste generation from healthcare facilities has boosted the demand for garbage trucks.
Asia Pacific to Hold Significant Share of Global Garbage Trucks Market
- Asia Pacific held a dominant share of the global garbage truck market, as the region is home to densely populated countries such as China, India, and Indonesia, which generate significant amount of waste annually, thereby fueling the demand for efficient waste management. Moreover, cleanliness programs started by government agencies in the region are boosting the fleet of garbage trucks. These factors are contributing toward the dominance of Asia Pacific in the global garbage truck market.
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Key Players Operating in Garbage Trucks Market
The global garbage trucks market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the garbage trucks market are:
- Combilift Material Handling Solutions
- Labrie Enviroquip Group
- Doosan Corporation
- Fujian Longma Environmental Sanitation Equipment Co., Ltd.
- BAS Mining Trucks
- BELAZ NORTH AMERICA INC
- Cummins Inc.
- ETF HOLDING B.V.
- Hitachi Construction Machinery Co. Ltd.
- Deutz AG
- Kubota Corporation
- AB Volvo
- McNeilus Truck & Manufacturing
- Zoomlion Heavy Industry Science & Technology Co. Ltd.
Global Garbage Trucks Market: Research Scope
Global Garbage Trucks Market, by Propulsion
Global Garbage Trucks Market, by Product Type
Global Garbage Trucks Market, by End-use Industry
- Municipal Waste Management
Global Garbage Trucks Market, by Capacity
- Below 25 Metric Tons
- 25-50 Metric Tons
- 51-150 Metric Tons
- 151-300 Metric Tons
- Above 300 Metric Tons
Global Garbage Trucks Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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