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The global garbage truck bodies market size is expected to gain momentum by reaching USD 29.98 billion by 2028. This information is published by Fortune Business Insights in its report, titled “Garbage Truck Bodies Market Size, Share & COVID-19 Impact Analysis, By Product (Front Loaders, Rear Loaders, Side Loaders), By Application (Urban Garbage Treatment, Building & Mining Industry, Others), and Regional Forecast, 2021-2028.” The report further mentions that the market stood at USD 15.13 billion in 2020 and is projected to exhibit a CAGR of 8.9% between 2021 and 2028. Government organizations worldwide are focusing on vehicle electrification programs amid the rising pollution levels. This is driving the adoption of electric garbage trucks globally.
FULONGMA with SCANIA Introduces 3rd Generation Low-Floor Compression Garbage Truck in Hong Kong
In January 2020, SCANIA, along with Pro Machinery & Equipment Limited, announced the launch of the new third-generation of low-floor compression garbage trucks. The companies reported that the new trucks were designed considering the New Article 3 of Service Specifications of Compression Garbage Truck issued by the Hong Kong Food and Environment Hygiene Department. The truck includes several characteristics, such as an anti-rear-end system, weighing system, and ability to realize automatic lifting. Several companies are focusing on developing automated trucks to ensure optimum waste management processes that will bode well for the growth of this market.
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Increasing Focus on Introduction of Electric Fleets to Augment Growth
In 2019, GreenWaste, one of the leading waste service providers in California, announced the addition of a BYD manufactured first-generation electric waste truck to their fleet. According to the company, the utilization of this type of truck has helped save around 6,000 gallons of diesel and further reduce emissions by over 78 metric tons of CO2 every year. Several waste service providers and sanitation departments focus on the inclusion of electric truck fleets in their businesses. The rising pollution and noise levels lead to high demand for electrification of the garbage trucks, contributing to the global garbage truck bodies market growth in the forthcoming years.
Prominent Companies Focus on Product Innovation to Widen Their Business Horizons
The global market is experiencing healthy competition among key players focusing on developing innovative trucks equipped with modern connectivity to ensure an effective waste management process across the globe. Moreover, this is expected to aid the companies in expanding their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, partnership, and collaboration that will contribute to the growth of the market during the forecast period.
List of the Companies Operating in the Global Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion) & Volume (Units)