Waste or Garbage Collection Vehicle Market: Current Analysis and Forecast (2023-2030)

Report Description

Global Waste or Garbage Collection Vehicle Market is expected to be USD 8 Billion in 2022 & is expected to grow at a CAGR of around 4% from 2023-2030. 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.

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Some of the major players operating in the market Heil; McNeilus Truck and Manufacturing; Labrie Group; Curbtender Sweepers, LLC; Geesink; Bridgeport Manufacturing; FAUN Umwelttechnik GmbH & Co. KG; Haul-All Equipment Ltd.; Fratelli Mazzocchia Spa; and Nord Engineering s.p.a.

Insights Presented in the Report

“Amongst loader type, rear loader category is expected to show expansion during the forecast period”

Based on loader type, the market is segmented into front loader, rear loader, automated side loader, and others. Amongst them, the rear loader category is expected to show expansion during the forecast period. The rear-loading garbage truck is commonly used for the street’s trash collection. The compaction cycle squeezes the waste against a steel plate positioned right behind the cab, which is the key to its operational efficiency. This removes waste liquids and air from the vehicle, allowing it to make fewer visits to the landfill. Due to its teardrop-shaped form, a rear-loading dump truck is also an excellent solution for crowded metropolitan locations. In addition, rear loaders can also be equipped with automated cart tippers, which minimizes stress and pressure on sanitation workers.

“Amongst vehicle type, medium duty segment held the maximum market share in 2022”

Based on vehicle type, the market is divided into light duty, medium duty, and heavy duty. Among them, the medium duty segment held the maximum market share in 2022. Medium duty vehicles are designed to carry a moderate amount of weight and are typically used for tasks such as waste collection, delivery, and transportation. Used in urban and suburban areas, where there is a high demand for waste collection services. The medium duty segment is particularly popular among waste management companies, as these vehicles are able to carry a moderate amount of weight and are well-suited for the tasks of waste collection and transportation. Additionally, medium duty vehicles are often more fuel-efficient than larger vehicles, making them a cost-effective option for waste management companies. This makes them a popular choice for waste management companies, as they are able to provide efficient and cost-effective waste collection services to their customers.

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“Asia Pacific holds the major market share in the waste or garbage collection vehicle market in 2022”

Asia-Pacific holds the major market share in the waste or garbage collection vehicle market in 2022. Owing to the increasing government spending on initiatives to build a healthy and clean environment, which ultimately presents rewarding opportunities to manufacturers of municipal solid waste trucks and vehicles. Additionally, the surge in spending for the creation of emission-free vehicles by local regulatory bodies is a result of rising air pollution levels. Moreover, the growing urbanization and the implementation of smart cities in nations like India and China, demand improved sewage treatment infrastructure and services, as well as concerns about health risks caused by the continuously rising amount of waste produced on a regular basis. Thus, such factors are increasing the demand for waste or garbage collection vehicles in the APAC Region.

Waste or Garbage Collection Vehicle Market Report Coverage

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

Customization Options:

The global waste or garbage collection vehicle market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for Global Waste or Garbage Collection Vehicle Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Waste or Garbage Collection Vehicle market were the three major steps undertaken to create and analyze the adoption of Waste or Garbage Collection Vehicle in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Waste or Garbage Collection Vehicle market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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 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 transportation 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 2030 for different segments and sub segments 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 loader type, technology, application and vehicle type
• 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 (The U.S., Canada, Rest of North America), Europe (Germany, The U.K., France, Italy, Spain, 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

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