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Garbage Truck Bodies Market to Reach $29.98 bn by 2028; Increasing Focus on Vehicle Electrification Programs to Augment Growth

July 19, 2021 | Automotive & Transportation

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.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/garbage-truck-bodies-market-103323


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.


Industry Development:



  • September 2020 – Wynnchurch Capital, L.P. announced the acquisition of Labrie Environmental Group, LLC. The company focuses on expanding its product portfolio in the region and gaining a competitive edge over its rivals.


List of the Companies Operating in the Global Market:



  • Fujian Longma Environmental Sanitation Equipment Co., Ltd (Longyan, China)

  • McNeilus Truck and Manufacturing (Minnesota, U.S.)

  • Haul-All Equipment Ltd. (Alberta, Canada)

  • New Way (Iowa, U.S.)

  • Heil (Tennessee, U.S.)

  • Labrie Enviroquip Group (Quebec, Canada)

  • DENNIS EAGLE LTD (Warwick, UK)

  • BYD Company Ltd. (Shenzhen, China)

  • Curbtender Sweepers, LLC (Iowa, U.S.)

  • Others


Further Report Findings:



  • North America is anticipated to remain at the forefront and hold the largest garbage truck bodies market share during the foreseeable future. This is ascribable to the factors such as the presence of stringent emission regulations and the increasing focus on the adoption of electric trucks for proper waste management in countries such as the U.S. The region stood at USD 5.95 billion in 2020.

  • The market in Europe is expected to showcase exponential growth in the forthcoming years. This is owing to the formulation of a cohesive policy on the development and management of waste and material sources in the region that will boost the adoption of advanced garbage truck bodies between 2021 and 2028.

  • Based on the product, the side loaders segment is expected to experience considerable growth backed by the increasing adoption of automated side loaders that are the most effective garbage truck bodies worldwide. The segment held a market share of about 14.2% in 2020.


Table of Segmentation:








































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion) & Volume (Units)



Segmentation



By Product



  • Front Loaders

  • Rear Loaders

  • Side Loaders



By Application



  • Urban Garbage Treatment

  • Building and Mining Industry

  • Others



By Geography



  • North America (By Product, By Application)

  • Europe (By Product, By Application)

  • Asia-Pacific (By Product, By Application)

  • Rest of the World (By Product, By Application)


Global Garbage Truck Bodies Market
  • PDF
  • 2020
  • 2017-2019
  • 136

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