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Asia Pacific Garbage Truck Bodies Market Size, Share & Industry Analysis, By Product Type (Front Loaders, Rear Loaders, Side Loaders), By Application (Urban Garbage Treatment, Building & Mining Industry, Others), and Regional Forecast, 2023-2030

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI107658

 

KEY MARKET INSIGHTS

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Asia Pacific has the highest global garbage truck bodies market share. It is projected to display significant growth at a CAGR of 6.4% during the forecast period. The Asia Pacific market for garbage truck bodies is projected to grow from USD 1.39 billion in 2022 to USD 2.24 billion by 2030.


The Asia Pacific region struggles with a robust waste management system due to several under-developing economies in this region. This has led to the piling of solid waste in this region due to improper disposal. Many local governments are recognizing this issue and are launching various initiatives to reduce the piling of waste in the region. For instance, in August 2022, the Minister of State announced around 34.7 lakh tons of plastic waste during 2019-2020. Of this, approximately 50% of the waste was recycled.


Our report on the Asia Pacific garbage truck bodies market covers regional analysis and the following countries/regions– China, India, Japan, South Korea, and the rest of Asia Pacific.


LATEST TRENDS


Growing Trend of Recycling and Formation of Robust Waste Management Presents Higher Adoption of Garbage Trucks in the Region


The recent industry trends show significant development of recycling initiatives adopted by various regional and local governments to reduce the heaping of waste products in the countries. Moreover, the under-developing countries in these regions are introducing innovative ways to involve the populace in the responsible disposal of waste in the region. For instance, in February 2022, the local government introduced an interactive user concept where the garbage trucks are equipped with a musical song that signals the residents to come down and dispose of the waste in the garbage trucks. Many of the neighborhoods in Taiwan lack proper infrastructure for waste management. This initiative by the local government solves the garbage issue and increases the awareness of proper waste disposal among the populace.


DRIVING FACTORS


Lack of System Approach for Refuse Collection within the Waste Management Industry to Propel the Market Growth


The Asia Pacific region's governments are implementing various strategies and initiatives to maximize waste collection rates and dispose of waste products. Additionally, the region is focused on increasing its recycling efforts to lower further the impact of garbage and waste on the environment. Additionally, due to lack of capital for waste management in developing countries, many governments struggle with proper waste disposal, leading to adverse impacts on the environment. However, many countries such as China, Japan, and India are highly focused on reducing waste generation in their respective countries. Major players recognize these opportunities for establishing a solid market presence and are introducing their products to dominate the Asia Pacific market.



  • For instance, in August 2022, Fulongma showcased its electric garbage trucks in an electric vehicle show at Jakarta Convention in Indonesia. The government implemented significant reforms to reduce the country's dependency on imports and lower carbon emissions by promoting electric vehicles.


RESTRAINING FACTORS


Stringent Emission Regulations in Asia Pacific to Restrain the Sale of IC Engine Garbage Truck Bodies 


Growing carbon emission is an ever-growing concern for democracies worldwide. According to IEA, in 2022, oil-related emissions grew by 180 million tons. Many regions focus on developing and integrating advanced technology, replacing fossil fuel dependency by adopting electric trucks and renewable fuel systems to reduce their carbon footprint. Asia Pacific local governments are working toward achieving carbon neutrality in waste management by deploying hydrogen fuel-cell and CNG-powered electric trucks. It has led to lower adoption of IC engine garbage trucks, affecting the Asia Pacific garbage truck bodies market growth.


KEY INDUSTRY PLAYERS


The competitive landscape consists of key players such as Fulongma, BYD Motors, Ashok Leyland, Volvo, and Mitsubishi. The players focus on establishing their presence or penetrating new markets to grow their revenue.  


Other prominent players, such as Shinmaywa Industries and Eicher Motors, are also leading the market due to their strong distribution network and favorable product mix for their application portfolio. The companies are focused on strengthening their product portfolio and distribution network through strategic collaborations and partnerships to increase the Asia Pacific garbage truck bodies market share.


LIST OF KEY COMPANIES PROFILED:



  • ShinMaywa Industries, Ltd. (Japan)

  • Mitsubishi Fuso Truck and Bus Corporation (Japan)

  • hubei chusheng vehicle co. ltd (China)

  • BYD Motors (China)

  • Ashok Leyland (India)

  • Eicher Motors (U.K.)

  • Isuzu Motors Ltd. (Japan)

  • Volvo (Sweden)

  • McNeilus Truck and Manufacturing (U.S.)

  • Heil (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • October 2022: Fulonga developed a fully sealed rubbish truck. The vehicle is modified with rubbish containers, hydraulic and pneumatic systems, and other components. The vehicle integrates a level 2 chassis and IC combustion system that fulfils the national six standards

  • March 2022: Mitsubishi delivered its EV garbage truck, eCanter, to Atsugi City. The truck weighs about 7.5 tons and has a maximum range of 100km per charge.

  • June 2021: McNeilus Truck and Manufacturing Inc. unveiled three new models at WasteExpo, which took place in Las Vegas from June 28 to 30. The new Metro Pak Plus Rear Loader, CartSeeker Curbside Automation, and Zero Radius Automated Side Loader will be displayed.


REPORT COVERAGE


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The Asia Pacific garbage truck bodies market research report provides qualitative, quantitative insights, and regional insights on the market and a detailed analysis of the market size & growth rate for all possible segments in the market. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are an overview of the number of procedures, an overview of price analysis of types of applications, overview of the regulatory scenario by key countries, pipeline analysis, new application launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.


Report Scope & Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 6.4% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Product Type; Application; and Country/Sub-Region



By Product Type




  • Front Loader

  • Rear Loader

  • Side Loader



By Application




  • Urban Garbage Treatment

  • Building and Mining industry

  • Others



By Country/Sub-Region




  • China (By Application)

  • India (By Application)

  • Japan (By Application)

  • South Korea (By Application)

  • Rest of Asia Pacific (By Application)






Frequently Asked Questions

Growing at a CAGR of 6.4%, the market will exhibit steady growth in the forecast period (2023-2030).

Lack of system approach for refuse collection within the waste management industry in the Asia Pacific region is expected to propel the market growth.

The rest of Asia Pacific dominated the market in 2022.

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