US$ 6,460.8 Million Global Garbage Trucks Market to Register 5.8% CAGR Between 2021 and 2031, Finds Bekryl Market Analysts

Global Garbage Trucks Market Analysis | Bekryl Intelligence
Global Garbage Trucks Market is expected to create an incremental opportunity of US$ 4.6 Bn between 2021 and 2031. According to Bekryl, the industry is consolidated with major industry players accounting for the highest share

According to the recently released report by Bekryl, Global Garbage Trucks Market is estimated to be valued at US$ 6,460.8 Million in 2022 and is expected to register 5.8% CAGR during the forecast period. Garbage trucks collects waste and safely disposes it to landfills or places where waste materials are managed. In the last few years, competition has increased significantly owing to market maturity and high scale disruptive forces. Companies are actively enhancing the fleet size and bringing technological advancement to ensure long term sustainability.

Demand for refuse trucks will increase during the forecast period owing to increasing municipal waste. According to the World Bank, total municipal waste generation is 1.3 billion tonnes annually. It is expected to double by 2025. Higher urbanization rate, rise in population and changing lifestyle has led to increase in municipal sewage waste. Increase in MSW will accelerate the sales of garbage trucks market worldwide.

Excerpts from the report states that North America dominated the global Garbage Trucks market sales worldwide. North America represents large number of garbage collection trucks players. Waste management industry is highly streamlined. There are nearly 94,175 garbage trucks running on-road in the region. Industry players will see surge in demand during the next five years, mainly due to rise in vehicle replacement rate.

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Few key trends from Garbage Trucks market:

Trend#1: Companies are Focusing on Product Innovation

Various companies are focusing on introducing new products in order to increase the ease and efficieny of garbage collection and disposal. Current trucks today emply various innovative design and technologies in order to enhance their products. equipped with cameras, telematics, onboard diagnostics and automated arms to make waste collection safer and more efficient than ever before. For instance, in 2019, 2019, The Lion Electric Co. and Boivin Γ‰volution unveiled what they called the world’s first Class 8 refuse truck with a powertrain and automated collection hopper that are 100% electric.

In addition, focus is being made in order to develop and introduce fully autonomous collection trucks in the market

Trend#2: Side Loader based Refuse Trucks Dominated the Global Sales in 2021. Electric Refuse Trucks Market to Register Fastest CAGR

In 2021, side loader accounted for 36.9% of total refuse trucks sale. Majority of the sales was registered in North America. While side loader dominated the global sales, electric based refuse trucks will register double CAGR of 16% during the forecast period.

To purchase the report or know more about the industry, visit:

https://bekryl.com/industry-trends/garbage-collection-trucks-market-share-analysis

Some of the key companies covered in the report are:

Motiv Power Systems
Bridgeport Manufacturing
Scranton Manufacturing Corporation, Inc.
Dennis Eagle Inc.
Pak-Mor Ltd.
Ceec Trucks Industry Co., Ltd.
Wrightspeed
Curbtender, Inc.
Heil – An Environmental Solutions Group Company
McNeilus Truck & Manufacturing, Inc.
FAUN Umwelttechnik GmbH & Co.KG
Fujian Longma Environmental Sanitation Equipment Co., Ltd.
Labrie Enviroquip Group
Zoomlion Heavy Industry Science & Technology Co., Ltd.
EZ-Pack Refuse Hauling Solutions, LLC
Dongfeng Motor Corporation

About Bekryl

Bekryl Market Analysts is a global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader’s opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, electronics and industrial production.

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