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Waste or Garbage Collection Vehicle: By Loader Type (Front Loaders, Rear Loaders, Automated Side Loaders [ASL], Pneumatic Collection, Grapple Trucks), By Technology (Manual, Semi-automatic), By Vehicle Type (Light Duty Vehicle, Medium Duty Vehicle, Heavy Duty Vehicle), By Application (Residential, Non-Residential), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2031
[170+ Pages Research Report] Waste or Garbage Collection Vehicle Market to surpass USD 20.8 billion by 2031 from USD 13.8 billion in 2021 at a CAGR of 4.2% throughout the forecast period 2021-31.
Waste or Garbage Collection Vehicles are the type of vehicles that are specifically used for collecting waste or garbage from residential and non-residential areas and then take it to landfills or waste management plants. These vehicles have different loading mechanisms such as Front Loaders, Rear Loaders, Automated Side Loaders, Pneumatic Collection, and Grapple Trucks.
The Waste or Garbage Collection Vehicle market is expected to project a notable CAGR of 4.2% in 2031.
Waste or Garbage Collection Vehicle to surpass USD 20.8 billion by 2031 from USD 13.8 billion in 2021 at a CAGR of 4.2% in the coming years, i.e., 2021-31. Increasing demand for proper waste management systems, growing awareness and environmental concerns, advancements in technologies, rising investments by manufacturers, and government initiatives are major factors boosting the Waste or Garbage Collection Vehicle Market growth.
The Rear Loaders segment to grow with the highest CAGR during 2021-31
Waste or Garbage Collection Vehicle market is classified on the basis of Loader Type into Front Loaders, Rear Loaders, Automated Side Loaders [ASL], Pneumatic Collection, and Grapple Trucks. During the forecast period, the Rear Loaders segment is projected to grow with the highest CAGR. The growth is attributed to the high efficiency of these vehicles as compared to other vehicles. Rear loaders can be operated by a single driver and are best for crowded areas.
The Medium Duty Vehicle segment to grow with the highest CAGR during 2021-31
Based on Vehicle Type, Waste or Garbage Collection Vehicle market is fragmented into Light Duty Vehicle, Medium Duty Vehicle, and Heavy Duty Vehicle. During the forecast period, Medium Duty Vehicle segment is projected to grow with the highest CAGR. The growth is attributed to the rising preference of drivers for collecting garbage in neighborhood areas.
Increasing Demand for Proper Waste Management
The rising population in several countries has led to the increase of waste production at a higher rate. Growing public health and environmental concerns due to increasing amounts of waste in populated areas has increased the demand for improvement in waste management facilities. Further, growing government initiatives and rapid demand from government authorities for waste or garbage collection vehicles along with expansion of budgets for the development of waste management and recycling facilities are also fueling the growth of the market.
Advancement in Technologies and Increasing Investments
New technologies and equipment for efficient disposal and recycling of waste have driven the market growth. Key market players are investing and focusing on developing more efficient and environment-friendly vehicles due to rising demand from customers. Further, growing demand for zero-emission vehicles along with automation will boost the growth of Waste or Garbage Collection Vehicle market.
Lack of Awareness and Standard Protocols and High Costs
Lack of proper awareness in some developing countries and absence of standard protocols for the development of vehicles are impeding the market growth. Further, garbage collection vehicles with advance inbuilt technology are costly which is also restraining the growth of the market.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Waste or Garbage Collection Vehicle market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is anticipated to lead the market with maximum CAGR during the forecast period. The growth is attributed to the rising population and growing awareness about proper waste management systems. Growing infrastructure, rising government initiatives and increasing research and development facilities are driving the market growth.
Covid-19 pandemic has adversely affected the global economies and industries across the globe. With strict imposition of lockdowns and travel bans have resulted in shutdown of many businesses. The unprecedented problems due to coronavirus has disrupted the sales of collection vehicles and global supply chains. There has been a huge delay in delivery of many products. Covid-19 had a negative impact on Waste or Garbage Collection Vehicle Market. However, with lifting up of restrictions and travel bans, and economies recovering from the pandemic, Waste or Garbage Collection Vehicle market is expected to grow steadily during the forecast period.
Waste or Garbage Collection Vehicle is further segmented by region into:
Waste or Garbage Collection Vehicle Segments:
REPORT ATTRIBUTE |
DETAILS |
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Market size value in 2021 |
USD 13.8 billion |
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Revenue forecast in 2031 |
USD 20.8 billion |
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Growth Rate |
CAGR of 4.2% from 2021 to 2031 |
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Base year for estimation |
2021 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Loader Type, Technology, Vehicle Type, Application and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
AUTOCAR LLC., AB NARPES TRA & METALL - NTM, AMS Spa, EcoZeta S.r.l., Environmental Solutions Group, EOW INTERNATIONAL COLLABORATION & MANUFACTURING LLC, FAUN Umwelttechnik GmbH & Co. KG, Fratelli Mazzocchia Spa, GEP ECOTECH CO. LTD., Hidro-Mak, MS DORSE, Mecagil-Lebon, Nord Engineering s.r.l., TERBERG ROSROCA GROUP, Shandong Wuzheng Group Co. Ltd., XCMG Group, and Other Prominent Players. |
Waste or Garbage Collection Vehicle market size was estimated at USD 13.8 billion in 2021 and is expected to reach USD 20.8 billion in 2031.
Waste or Garbage Collection Vehicle are the type of vehicles that are specifically used for collecting waste or garbage from residential and non-residential areas and then take it to landfills or waste management plants.
The Rear Loaders segment accounted for the largest Waste or Garbage Collection Vehicle market share.
Key players in the Waste or Garbage Collection Vehicle market include AUTOCAR LLC., AB NARPES TRA & METALL - NTM, AMS Spa, EcoZeta S.r.l., Environmental Solutions Group, EOW INTERNATIONAL COLLABORATION & MANUFACTURING LLC, FAUN Umwelttechnik GmbH & Co. KG, Fratelli Mazzocchia Spa, GEP ECOTECH CO. LTD., Hidro-Mak, MS DORSE, Mecagil-Lebon, Nord Engineering s.r.l., TERBERG ROSROCA GROUP, Shandong Wuzheng Group Co. Ltd., XCMG Group, and Other Prominent Players.
Increasing demand for proper waste management, advancement in technologies, and increasing investments are the factors driving the Waste or Garbage Collection Vehicle market.
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