Garbage Collection Trucks Market to Reach US$ 10 Bn by 2029; Increasing Adoption by Municipal Sector to Generate Significant Opportunity, Says Fact.MR
Wednesday, March 25, 2020 10:05 AM
The players in the garbage collection trucks market are shifting from conventional to automatic technology to cater to heavy-duty applications.
ROCKVILLE, MD / ACCESSWIRE / March 25, 2020 / The global garbage collection trucks market will reach a valuation of US$ 10 Bn during 2019 - 2029, as projected by a new Fact.MR report. Key players in the garbage collection trucks market are beholding lucrative opportunities on the back of increasing municipal sewage waste and expeditious urbanization. The growth is further complemented by investments from governments of industrialized nations such as China and India significantly to modernize their waste management infrastructure.
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Garbage Collection Trucks Market: Key Findings
- The municipal garbage segment will account for 50% of overall market value, generating enormous growth opportunities for manufacturers.
- Automation garbage collection trucks will witness higher growth in the technology segment at a CAGR of 5%.
- Rear loader is estimated to grow 1.3X in terms of value during the forecast period.
- North America will remain the leading market through 2029 owing to strong regulations related to environmental safety.
- Europe is estimated to hold a quarter of the overall market.
- India and China are emerging as highly lucrative markets.
Garbage Collection Trucks Market: Key Driving Factors
- The increasing municipal sewage & waste is expected to create incremental growth opportunities in developed regions.
- Garbage collection trucks with high-end features are expected to witness abundant growth.
- Industrialized nations such as China, India, Mexico, and Brazil are significantly investing to modernize their waste management infrastructure, and this will fuel the sales of garbage collection trucks in the foreseeable future.
Explore the complete garbage collection trucks market report with detailed market segmentation, 132 illustrative figures, and 72 data tables at -
Garbage Collection Trucks Market: Key Restraint
Increasing levels of pollution and stringent norms imposed on pollution are likely to hinder the sales of garbage collection trucks
Some of the key players in the garbage collection trucks market are McNeilus Truck & Manufacturing, Inc., Overview Zoomlion Heavy Industry Science & Technology Co., Ltd. Fujian Longma Environmental Sanitation Equipment Co. Ltd., Dongfeng Motor Corporation, PAK-MOR LTD. FAUN Umwelttechnik GmbH & Co.KG and EZ-Pack Refuse Hauling Solutions, LLC., among others. The market players are exploring innovative ways to extend the shelf life of garbage trucks, simultaneously focusing on adding new features such as real-time monitoring, the addition of new equipment for the collection and segregation of waste from streets.
About the Report
Fact.MR presents a detailed and unbiased analysis of the global garbage collection trucks market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the garbage collection trucks market on the basis of product (front loaders, rear loaders, side loaders), technology (semi-automatic, automatic, and others), end-use (municipal garbage, industrial garbage, and others), and across seven major regions.
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