Garbage Truck Market: Current Analysis and Forecast (2022-2028)
Emphasis on Propulsion (Gasoline, Diesel, and Electric); Product (Front Loader, Rear Loader, and Side Loader) End Users (Municipal Garbage, Industrial Garbage, and Others); and Region/Country
Global Garbage Truck Market is expected to grow at a significant rate of around 5% during the forecast period. The global garbage truck market is a segment of the commercial vehicle market that is dedicated to waste collection and transportation. Garbage trucks are designed to collect and transport waste, including municipal solid waste, recyclable materials, and organic waste. The market for garbage trucks is driven by the growing concern for waste management and environmental sustainability, as well as increasing urbanization and population growth. The increasing emphasis on sustainable waste management practices, such as recycling and waste-to-energy initiatives, has also contributed to the growth of the garbage truck market. In terms of types, garbage trucks can be classified into various categories, such as front loaders, rear loaders, side loaders, and roll-off trucks. The choice of type depends on the specific needs of the customer and the nature of the waste to be collected. Geographically, the garbage truck market is concentrated in North America, Europe, and Asia-Pacific.
Curbtender Sweepers, LLC; Dongfeng Motor Company; Environmental Solutions Group; E-Z Pac; FAUN Umwelttechnik GmbH & Co. KG; FULONGMA GROUP Co., Ltd.; Geesinknorba; Labrie Group; Royal Terberg Group; and Zoomlion Heavy Industry Science&Technology Co., Ltd. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst propulsion, diesel category to hold significant market share.”
Based on propulsion, the market is categorized into gasoline, diesel, and electric. The diesel category of the garbage truck market has a significant market share due to various factors such as diesel engines being more fuel-efficient than gasoline engines. Garbage trucks need a lot of power to carry heavy loads and stop and start frequently during their routes. Diesel engines provide the necessary torque and power, making them more suitable for garbage trucks than gasoline engines. Additionally, Diesel engines have a longer lifespan than gasoline engines. Garbage trucks operate for long hours and cover many miles, and diesel engines are designed to last longer and require less maintenance than gasoline engines.
Garbage Truck Market Report Coverage
“Amongst end users, the industrial garbage category to hold a significant growth rate in the upcoming forecast period.”
On the basis of end users, the market is categorized into municipal garbage, industrial garbage, and others. Among these, the industrial garbage category holds a significant growth rate in the upcoming forecast period. This is mainly due to the expansion of industrialization in many countries, and the amount of industrial waste generated is also increasing. This creates a demand for garbage trucks designed to handle and transport large amounts of industrial waste. Moreover, many governments have implemented regulations requiring industries to properly dispose of their waste. This has created a need for specialized garbage trucks that can handle hazardous and non-hazardous industrial waste.
“North America to hold a significant share in the market.”
North America has been experiencing a significant growth rate in the global garbage truck market due to several driving factors. Firstly, the increasing urbanization and population growth in the region have led to a surge in waste generation, which in turn has boosted the demand for garbage trucks. Moreover, the rising focus on sustainable waste management practices and regulations to reduce landfill waste has encouraged the adoption of advanced garbage trucks that are equipped with technologies such as automation and telematics. Additionally, the availability of favorable government initiatives and subsidies to support waste management and recycling programs has further stimulated the growth of the garbage truck market in North America. Furthermore, the increasing investments by key players in the region to introduce innovative and eco-friendly garbage trucks have created a competitive landscape, driving the demand for new and advanced models. Overall, these factors have collectively contributed to the remarkable growth rate of the garbage truck market in North America, making it a significant player in the global market.
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 level analysis of the industry.
Customization Options:
The global garbage truck 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.
Table of Contents
Research Methodology for the Garbage Truck Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global garbage truck market were the three major steps undertaken to create and analyze the adoption of garbage truck vehicles 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 garbage truck 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:
Detail secondary study was conducted to obtain the historical market size of the garbage truck market through company internal sources such as annual reports & 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 garbage truck market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as propulsion, product, and end users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
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 of the garbage truck market. Further, we conducted factor analysis using dependent and independent variables such as various propulsion, product, and end users of garbage truck vehicles. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the garbage truck market sector across the globe.
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 global garbage truck market, and market shares of the segments. All the required percentage shares 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., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the garbage truck market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global garbage truck 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, Regional Head, Country Head, etc.) across major regions. 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
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global garbage truck market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of propulsion, product, and end users in the global garbage truck market.
The main objective of the Global Garbage Truck Market Study
The current & future market trends of the global garbage truck market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the garbage truck market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of propulsion, product, and end users.
- Define and analysis of the regulatory framework for the garbage truck
- 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 garbage truck market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the garbage truck market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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