Waste or Garbage Collection Vehicle Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Waste or Garbage Collection Vehicle Market is anticipated display a CAGR of around ~5% over the forecast period (2021-2027). Garbage pickup vehicles are regarded as a vital logistical operation for waste disposal in each community. Garbage collection vans are equipped with mobile communication devices, visible and auditory alerts, and two-way radios. These solutions help to improve the vehicle’s performance, capability, and safety. Increased urbanization, population growth, and demand for electric garbage trucks all contribute to the market’s expansion. With operations linked to the design, development, and production of such vehicles, the garbage collecting vehicle market is still in its early stages. Furthermore, rising industrialization, increased infrastructure from emerging countries such as China, India, and Brazil, and increased awareness of environmental and health hazards are expected to propel the worldwide market forward.

Insights Presented in the Report

“Amongst Loader Type, Rear Loader segment dominated the market in 2020”

Based on loader type, the market is segmented into front loader, rear loader, automated side loader and other. The rear loader segment is expected to grow at a higher CAGR during the forecasted period. A single operator is required for the rear loader garbage vehicle. It does not necessitate the use of a second person to physically empty the trash can. A single operator equals lower costs. It also prevents injuries that are frequent with other types of loaders. Nonlinear streets, such as curving roadways, benefit from rear loaders as well. This expands the company’s capacity to serve customers in previously untapped markets. During the projected period, all of these reasons are expected to enhance the rear loaders segment.

“Amongst Vehicle Type, Medium Duty segment dominated the market in 2020.”

Based on vehicle type, the market is segmented into light duty, medium duty, and heavy duty. The medium duty segment is expected to grow at a higher CAGR during the forecasted period. Increased per capita income, combined with increased industrialization, has spurred the global sale of medium and heavy-duty vehicles to meet the growing demand for technical advancements that improve the collection process, as well as the separation of wet and dry waste and customer awareness. As a result, the population’s desire to possess a vehicle is projected to grow, resulting in increased demand for medium-duty automobiles. During the projected period, all of these factors are expected to strengthen the medium duty vehicle segment.

“Amongst Technology, Manual segment dominated the market in 2020.”

Based on technology type, the market is segmented in manual and semi-automatic. The manual segment is expected to grow at a higher CAGR during the forecasted period. Several communities are implementing vehicles to improve service by including durable, easy-to-handle carts with manual-operated technology, as well as to encourage waste reduction and improved waste diversion rates. These elements are propelling the manual technology sector over the world.

“Amongst Application, Residential segment dominated the market in 2020.”

Based on application, the market is segmented in residential and non-residential. The residential segment is expected to grow at a higher CAGR during the forecasted period. Governments demand dependable waste management systems, from collection and hauling to transfer and disposal. Companies in the waste or garbage collection vehicle industry are collaborating with stakeholders who provide personalized waste and cleaning services. Residential and non-residential clients are benefiting from improved customer care and specialized solutions provided by curb-to-grid trash management providers.

“Asia Pacific represents as the largest market.”

For a better understanding of the market adoption of Waste or Garbage Collection Vehicle, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of APAC), and Rest of World. Due to rising population and growing awareness about the need of safe garbage collection, Asia-Pacific is expected to hold the greatest market share during the projection period. Furthermore, the country’s expanding infrastructure and industries, big population, and rising production and consumption of commodities are all contributing to the worldwide market’s expansion. Because of the development of modern technology, a stable economy, and the presence of major key manufacturers across the region, North America is expected to grow at a large rate during the projection period. Some of the major players operating in the market includes BYD Co. Ltd., McNeilus, Labrie Enviroquip Group Inc., Curbtender, Inc., Ashok Leyland, Bridgeport Truck Manufacturing, FAUN Umwelttechnik, Haul-All Equipment, Fratelli Mazzocchia, Nord Engineering s.r.l. etc.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

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Research Methodology

Garbage pickup vehicles are regarded as a vital logistical operation for waste disposal in each community. Garbage collection vans are equipped with mobile communication devices, visible and auditory alerts, and two-way radios. These solutions help to improve the vehicle’s performance, capability, and safety. Increased urbanization, population growth, and demand for electric garbage trucks all contribute to the market’s expansion. With operations linked to the design, development, and production of such vehicles, the garbage collecting vehicle market is still in its early stages. Furthermore, rising industrialization, increased infrastructure from emerging countries such as China, India, and Brazil, and increased awareness of environmental and health hazards are expected to propel the worldwide market forward. According to Worldbank, global waste is expected to grow to 3.40 billion tonnes by 2050, more than double population growth over the same period. Overall, there is a positive correlation between waste generation and income level. Daily per capita waste generation in high-income countries is projected to increase by 19 percent by 2050, compared to low- and middle-income countries where it is expected to increase by approximately 40% or more. Waste generation initially decreases at the lowest income levels and then increases at a faster rate for incremental income changes at low-income levels than at high income levels. The total quantity of waste generated in low-income countries is expected to increase by more than three times by 2050. The rising waste generation can be one of the major factor for growth of waste or garbage collection vehicles market.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Waste or Garbage Collection Vehicle Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Waste or Garbage Collection Vehicle, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by loader type, vehicle type, technology, and application. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Waste or Garbage Collection Vehicle Market in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing government incentives and demand for eco-friendly transportations etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Waste or Garbage Collection Vehicle across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Waste or Garbage Collection Vehicle Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Waste or Garbage Collection Vehicle market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of loader type, vehicle type, technology, application, and region.

The main objective of the Waste or Garbage Collection Vehicle Market Study

The current & future market trends of Waste or Garbage Collection Vehicle were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Waste or Garbage Collection Vehicle in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include type, application, and vehicle
• Defined analysis of the regulatory framework for the Global Waste or Garbage Collection Vehicle industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Waste or Garbage Collection Vehicle for the major regions & countries
• Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia Pacific (China, Japan, India, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Waste or Garbage Collection Vehicle Market players and the growth strategies adopted by them to sustain in the fast-growing market

Deep dive regional & country level analysis of the industry