Rising global population necessitates the demand for environmental cleanliness, particularly in urban areas. This in turn is impelling the growth of street sweeper market. On that premise, the global street sweeper market is poised for stellar growth at approximately 16.4% CAGR over the forecast period (2019-2027).
“Municipal corporations are in-charge of maintaining the clean surroundings across the city, which is driving the usage of street sweepers. Moreover, major manufacturers are increasingly inclining towards producing electric street sweepers. The global street sweeper market will exceed US$ 1.3 Bn by 2027,” says a Fact.MR analyst.
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Street Sweeper Market – Key Findings
- Mechanical broom sweeper accounts for 75% share in the overall market stack.
- Municipal corporations remain the leading end-use area of street sweeper through 2027.
- North America will lead the global street sweeper market through the forecast period.
- Asia Pacific street sweeper market is burgeoning on the back of waste management initiatives by governments.
Street Sweeper Market – Key Driving Factors
- Growing prevalence of contagious viral diseases such as COVID-19 is fuelling the demand for street sweepers.
- Escalating production of hybrid and electric vehicles is contributing to the growth of electric street sweeper segment.
- Greater emphasis for energy efficiency and zero emissions is driving the sales of electric street sweepers.
- End-use areas such as airports and manufacturing industries are propelling the growth of street sweeper market.
- Technological advancements continue to accentuate the demand for mechanical street sweepers.
Street Sweeper Market – Key Restraint
- Environmental implications associated with gasoline powered street sweepers are restraining market growth.
Impact of COVID-19 on Street Sweeper Market
Even though the prevalence of infectious viral diseases spurs the production of street sweeper market, the production will plummet in view of ongoing lockdowns across the globe. Similar to other industries, factories which produce street sweepers have halted their operations. Lockdowns are compelling factory workers and consumers to stay indoors. Hence, the global street sweeper market will witness a steep decline in growth during the first half of 2024 and possibly during the later-half.
The supply chain disruptions spurred by COVID-19 is hampering the worldwide shipments of street sweepers. Hence, production facilities are operating in limited capacities thereby slowing the growth of market. Analysts suggest that the street sweeper market will recover during the first half of 2024.
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Competitive Landscape
Some of the industry leaders profiled in this Fact.MR study include, but are not limited to, Global Environmental Products, Inc., and Duvelo International S.p.A. Prominent players continue to prioritize new product launches for unassailable competitive ascendancy. For instance, many companies have introduced electric street sweepers in the market. These new products are intended for multiple end-use areas such as Municipal Corporation and other industrial applications. For instance, Global Environmental Products, Inc. launched heavy duty, fully-electric sweepers in 2019. On the other hand, Duvelo International S.p.A. launched D.Zero2, an electric street sweeper in 2018.
About the Report
This 170-page study offers in-depth commentary on the street sweeper market. The study provides compelling insights on the street sweeper market on the basis of product (mechanical broom sweeper, vacuum sweeper, and regenerative air sweeper), end use (Municipal Corporation, industrial), propulsion (diesel, electric, CNG/gasoline) across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa).
Press Release: https://www.factmr.com/media-release/1372/global-street-sweeper-market
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