Pune, India., July 10, 2023 (GLOBE NEWSWIRE) -- The global garbage truck bodies market size was USD 4.26 billion in 2022. The market is anticipated to expand from USD 4.39 billion in 2023 to USD 6.30 billion by 2030, exhibiting a CAGR of 5.29% over the forecast period. The surge is due to rapid urbanization, fast-paced industrialization, and high population growth in the region. Fortune Business Insights™ cites this information in its research report “Garbage Truck Bodies Market, 2023-2030”.
Drivers & Restraints-
Surge in Market Value Driven by Urbanization and Rising Waste Generation
One of the key aspects augmenting the garbage truck bodies market growth comprise an increase in waste generation and rise in urbanization in the region. The industry expansion is further driven by an upsurge in population growth. However, the industry expansion could be affected by the low rates of waste collection in low-income and lower-middle income countries.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 5.29% |
| 2030 Value Projection | USD 6.30 Million |
| Base Year | 2022 |
| Market Size in 2023 | USD 4.39 Million |
| Historical Data for | 2019-2021 |
| No. of Pages | 136 |
Competitive Landscape-
Major Players Ink Strategic Deals to Expand Product Reach
Key industry players are focused on the adoption of a series of strategic initiatives for the consolidation of their industry positions. These include acquisitions, partnership agreements, collaborations, and the adoption of new solutions for strengthening the positions of their businesses. Additional steps comprise an escalation in research activities and growing participation in trade conferences.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/garbage-truck-bodies-market-103323
Segments-
Rear Loaders to Gain Traction Driven by Large Storage Capacity
On the basis of product type, the market for garbage truck bodies is subdivided into side loaders, rear loaders, and front loaders. The rear loaders segment is expected to register considerable expansion throughout the forecast period. The surge can be attributed to increasing technological advancements that help in the maximization of work efficiency.
Urban Garbage Treatment Segment to Register Notable Upsurge Owing to Rising Government Focus on Solid Waste Management
Based on application, the market is fragmented into building and mining industry, urban garbage treatment, and others. Of these, the urban garbage treatment segment is slated to record substantial growth over the projected period. The escalation is due to the increasing development in residential projects and expanding population.
By geography, the market for garbage truck bodies is categorized into Asia Pacific, Europe, North America, and the rest of the world.
| Segmentation | By Product Type
|
By Application
|
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Regional Insights-
Asia Pacific to Register Substantial Growth Impelled by Rising Implementation of Various Strategies
The Asia Pacific garbage truck bodies market share is expected to record notable growth over the estimated period. The surge is due to the growing implementation of various initiatives and strategies for waste collection.
The Europe market is estimated to register considerable upsurge throughout the study period. The expansion is propelled by the increasing focus of market participants on the reduction of carbon emissions.
Report Coverage:
The report gives an analysis of the significant factors pushing segment growth throughout the forecast period. Some of the other steps include merger agreements, the formation of alliances, and acquisitions. Additional aspects comprise an upsurge in research initiatives and the development of numerous solutions.
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A list of prominent Garbage Truck Bodies manufacturers operating in the global market:
- Fujian Longma Environmental Sanitation Equipment Co., Ltd (China)
- McNeilus Truck and Manufacturing (U.S.)
- Haul-All Equipment Ltd. (Canada)
- New Way (U.S.)
- Heil (U.S.)
- Labrie Enviroquip Group (Canada)
- DENNIS EAGLE LTD (U.K.)
- BYD Company Ltd. (China)
- Curbtender Sweepers, LLC (U.S.)
COVID-19 Impact:
Product Demand Affected Owing to Decreased Industrial Waste
The COVID-19 pandemic affected product demand driven by the reduction in industrial waste and discussions regarding the improvement of worker safety. The period registered an increased emphasis on the usage of automated garbage collectors. These side loaders could enhance efficiency by nearly 75% compared to the manual handling of waste collection operations.
Notable Industry Development:
- February 2023 – McNeilus Truck and Manufacturing announced the integration of advanced manufacturing for the production of an innovative solution in the refuse sector. The organization also accelerated production line at its manufacturing site.
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- PEST Analysis
- Porters Five Forces Analysis
- Growth & Penetration Analysis
- Impact of COVID-19 on Global Garbage Truck Bodies Market
- Global Garbage Truck Bodies Market Analysis, Insights and Forecast, 2019-2030
- Key Findings/Definition
- Market Analysis, Insights and Forecast – By Product Type
- Front Loader
- Rear Loader
- Side Loader
- Market Analysis, Insights and Forecast – By Application
- Urban Garbage Treatment
- Building and Mining Industry
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Rest of the world
- North America Garbage Truck Bodies Market Analysis, Insights and Forecast, 2019-2030
- Key Findings/Definition
- Market Analysis, Insights and Forecast – By Product Type
- Front Loader
- Rear Loader
- Side Loader
- Market Analysis, Insights and Forecast – By Application
- Urban Garbage Treatment
- Building and Mining Industry
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Market Analysis, Insights and Forecast – By Application
- Canada
- Market Analysis, Insights and Forecast – By Application
- Bermuda
- Market Analysis, Insights and Forecast – By Application
- U.S.
- Europe Garbage Truck Bodies Market Analysis, Insights and Forecast, 2019-2030
- Key Findings/Definition
- Market Analysis, Insights and Forecast – By Product Type
- Front Loader
- Rear Loader
- Side Loader
- Market Analysis, Insights and Forecast – By Application
- Urban Garbage Treatment
- Building and Mining Industry
- Others
- Other
- Market Analysis, Insights and Forecast – By Country
- U.K.
- Market Analysis, Insights and Forecast – By Application
- Germany
- Market Analysis, Insights and Forecast – By Application
- France
- Market Analysis, Insights and Forecast – By Application
- Rest of the Europe
- Market Analysis, Insights and Forecast – By Application
- U.K.
- Asia Pacific Garbage Truck Bodies Market Analysis, Insights and Forecast, 2019-2030
- Key Findings/Definition
- Market Analysis, Insights and Forecast – By Product Type
- Front Loader
- Rear Loader
- Side Loader
- Market Analysis, Insights and Forecast – By Application
- Urban Garbage Treatment
- Building and Mining Industry
- Others
- Market Analysis, Insights and Forecast – By Country
- China
- Market Analysis, Insights and Forecast – By Application
- India
- Market Analysis, Insights and Forecast – By Application
- Japan
- Market Analysis, Insights and Forecast – By Application
- Rest of the Asia Pacific
- Market Analysis, Insights and Forecast – By Application
- China
- Latin America Garbage Truck Bodies Market Analysis, Insights and Forecast, 2019-2030
- Key Findings/Definition
- Market Analysis, Insights and Forecast – By Product Type
- Front Loader
- Rear Loader
- Side Loader
- Market Analysis, Insights and Forecast – By Application
- Urban Garbage Treatment
- Building and Mining Industry
- Others
- Market Analysis, Insights and Forecast – By Country
- Brazil
- Market Analysis, Insights and Forecast – By Application
- Mexico
- Market Analysis, Insights and Forecast – By Application
- Rest of the Latin America
- Market Analysis, Insights and Forecast – By Application
- Brazil
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