How Does The Future Look For The Garbage Truck Market?
The garbage truck market size has grown strongly in recent years. It will grow from $16.43 billion in 2024 to $17.56 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to urbanization and population growth, health, and sanitation concerns, the industrial revolution impact, public health crisis responses, and waste recycling initiatives.
The garbage truck market size is expected to see strong growth in the next few years, reaching $23.54 billion in 2029 at a CAGR of 7.6%. The growth in the forecast period can be attributed to the shift towards electric and hybrid vehicles, smart waste management systems, demand for automated collection systems, adoption of AI in waste sorting, rise in biodegradable waste handling. Other key trends in the forecast period include on-demand waste collection services, robotics integration in waste handling, enhanced waste segregation capabilities, modular and customizable truck designs, and smart fleet management systems.
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What Are The Key Growth Drivers For The Garbage Truck Market?
The increasing need for waste management is predicted to drive growth in the garbage truck market. Waste management, which includes processes like gathering, handling, disposing, and effectively managing waste products, is an essential service for which garbage trucks are frequently used. These trucks collect and transport solid waste from homes, businesses, and industrial areas to facilities for correct disposal or treatment. According to a report published by the United Nations Environment Programme (UNEP) in 2024, municipal solid waste generation is projected to increase from 2.1 billion tonnes in 2023 to 3.8 billion tonnes by 2050. Hence, the rising need for waste management is a key factor propelling the growth of the garbage truck market.
What Are The Key Segments In The Garbage Truck Market?
1) By Type: Front Loaders, Rear Loaders, Side Loaders
2) By Technology: Manual, Automatic, Semi-Automatic
3) By Fuel Type: Gasoline, Diesel, Electric
4) By End User: Industrial Corporations, Municipal Authorities
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Who Are The Major Players In The Garbage Truck Market?
Major companies operating in the garbage truck market include Tata Ltd., Mack Trucks Inc., Bucher Municipal, FAUN Zoeller, Dennis Eagle Ltd., McNeilus Companies Inc., Heil Environmental Industries Ltd., Labrie Enviroquip Group, Peterbilt, Curbtender Inc., EZ Pack Refuse Hauling Solutions, Haul-All Equipment Ltd., Bridgeport Manufacturing Inc., Volvo Group, Jesco Industries Inc., Cardinal Carryor, Superior Pak Pty Ltd., Vecoplan LLC, New Way Trucks, Papas Waste Equipment International Pty Ltd., Russ Engineering Pty Ltd., Amrep Inc., Meyer Material Handling Products Inc., Aman Cleaning Equipments Pvt. Ltd., Warren Truck and Trailer LLC.
What Are The Emerging Trends In The Garbage Truck Market?
Major companies in the garbage truck market are focusing on developing innovative solutions such as electric trash trucks to reduce carbon emissions, improve fuel efficiency, and support environmentally sustainable waste management practices. In December 2023, WIN Waste Innovations, a US-based company that offers commercial and residential waste removal and recycling solutions, launched Boston’s first fully electric trash trucks. This marked a significant step in sustainable waste management for the city.
Which Region Dominates The Garbage Truck Market?
In 2024, North America was the largest region in the garbage truck market. The other regions covered in the garbage truck market report are Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Garbage Truck Global Market Report 2024 Report 2025 Offer?
A garbage truck is a vehicle specifically designed to collect and transport solid waste for recycling. They efficiently and hygienically collect, compress, and transport varied types of waste from homes, corporate, and industrial premises. They support cleanliness, hygienic conditions, and environmental sustainability in communities through proper waste management practices. The Garbage Truck Global Market Report 2024 research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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