Overview:

The global waste or garbage collection vehicle market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The waste or garbage collection vehicles are known by various names across the globe such as a dustbin lorry, garbage truck, refuse truck, trash truck, junk truck, rubbish truck, dustcart, dustbin lorry, bin van, bin lorry, belli vehicle, and refuse collection vehicle (RCV). These vehicles are used to collect garbage from roads, societies, and streets. The garbage collection vehicles pick up waste and transport it to a waste management center or landfill.

The type of vehicle varies country to country. In some countries these vehicle available in separate closed compartment for dry and wet garbage. In some countries the garbage collection vehicles come up with hydraulic system for lifting and loading garbage.

Market Dynamics:

In current world increasing volume of non-disposable waste is causing many environment related issues and pollution. Hence, government authorities around the globe are taking many steps to educate people on waste management and recycling. This kind of initiatives is expected to drive growth of the global waste or garbage collection vehicle market.

In addition, growing technological advancement in garbage collection vehicles is another major factor expected to support growth of the target market. Also, growing number of houses and residential projects, and increasing number of industries across the globe are among the other factor expected to drive growth of the global market during the forecast period.

However, high vehicle cost and maintenance cost are major factors may hamper growth of the global waste or garbage collection vehicle market to a certain extent. Nevertheless, introduction of hybrid and electric garbage collection vehicles to face the challenge of increasing pollution is expected to impact positively on the market growth in the near future.

Key Trends:

Manufacturers are focusing on reducing the weight of garbage collection vehicles, so they can carry more garbage in less fuel. This is a major trend observed in the global waste or garbage collection vehicle market. In addition, rising government initiative to collect and manage garbage is another trend witnessed in the target market. For instance, in January 2021, the Corporation of the City of Panaji has procured advanced waste collection vehicles to keep the environment clean.

Regional Analysis:

For detailed understanding of market dynamics, the global waste or garbage collection vehicle market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the year 2019, the North America is accounted for major market share in the global market. This is owing to established waste management system, stringent government measures related to waste disposal, and high awareness among individuals about clean environment in countries in the region.

However, the target market in Asia Pacific region is expected to register significant CAGR in the forecast period. This is attributed to rising volume of waste or garbage as a result of presence of large population in the region.

Scope of the Report:

Detailed Segmentation:

Global Waste or Garbage Collection Vehicle Market, By Type:

• Front Loaders
• Rear Loaders
• Side Loaders

Global Waste or Garbage Collection Vehicle Market, By Technology:

• Manual
• Semi-automatic/ Automatic

Global Waste or Garbage Collection Vehicle Market, By End Use:

• Municipal Garbage
• Industrial Garbage
• Other

Key Players Covered:

Key players operating in the global waste or garbage collection vehicle market includes Zoomlion Heavy Industry Science & Technology Co., Ltd., Dongfeng Motor Corporation, Heil - An Environmental Solutions Group Company, PAK-MOR LTD., Daimler AG, The Autocar Company, EZ-Pack Refuse Hauling Solutions, LLC, Bridgeport Manufacturing, Geesinknorba Ltd., and McNeilus Truck & Manufacturing, Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Waste or Garbage Collection Vehicle Market by type, technology, end use, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global waste or garbage collection vehicle market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.