Menu ×

AUTOMOTIVE & TRANSPORTATION

Garbage Truck Bodies Market Analysis by Product Type (Front Loaders, Side Loaders, Rear Loaders); and by Application (Residential Waste, Commercial Waste)– Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

IN THE NEWS

  • Dover Corporation - announced its complete acquisition of certain intellectual property from Boivin Evolution Inc. ("BEV"). The acquisition was related to electrically-powered refuse collection vehicle ("RCV") bodies.
  • McNeilus Truck and Manufacturing, Inc, (Oshkosh Corporation) - announced a partnership with SSAB in fossil-free steel applications for severe-duty commercial vehicles. McNeilus refuse collection vehicles was chosen as prototypes in manufacturing environmentally sustainable severe-duty vehicles.

Global Garbage Truck Bodies Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

~USD 4 Billion

Forecast Year Market Size (2033)

~USD 8 Billion

The global garbage truck bodies market is estimated to garner a revenue of ~USD 8 billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 4 billion in the year 2022. The growth of the market can primarily be attributed to the increasing amount of waste generated worldwide. For instance, it is estimated that the global waste generation by 2050 to reach more than 3 billion tons.

/Garbage-Truck-Bodies-Market-SizeGet more information on this reportDownload Sample PDF

Garbage was often disposed in close proximity of the habitat such as into sewers, on streets and in rivers. Since the invention and application of garbage trucks, disposal of the waste that we generate became more organized. The rising innovations in the garbage truck bodies in the recent time is the result of growing amount of waste generated each day and the changing characteristics of the waste generated. With the rising advancements towards smart cities, the demand for different types of garbage truck bodies is on the rise amongst the municipal corporations, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global garbage truck bodies market during the forecast period. It was found that, globally, the technology spending on smart city initiatives is projected to reach about USD 189 billion by 2023.

Global Garbage Truck Bodies Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Amount of E-Waste – with changing nature of garbage, such as e-waste, the demand for various kind of garbage truck bodies is also increasing.  Rising amount of e-waste, such as TVs, computers and phones and others is expected to boost the garbage truck bodies in the projected period. E-waste is estimated to rise to more than 70 million tons by 2030.
  • Rising Solid Waste–Related Emissions – for instance, it is anticipated that the if no improvements are made in this sector, the solid waste-related emissions is estimated to rise to ~2.30 billion tons of CO2-equivalent per year by 2050.
  • Growing Global Population which was found to be surged by ~2.5 billion people in the last 30 years, up till 2020.
  • Increasing Urbanizationfor instance, in 2020, more than 75% population of the developed economies lived in cities which is expected to keep increasing.

Challenges

  • Stringent Regulatory Framework
  • Changing Characteristics of Waste Generated
  • High Cost of Maintenance

The global garbage truck bodies market is segmented and analyzed for demand and supply by product type into residential Waste and industrial waste. Amongst these segments, the commercial Waste segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing amount of waste generated from industries along with the surge in the paper & paperboard waste generated worldwide. For instance, out of ~290 million tons of waste generated in 2018, approximately 23% was contributed by paper & paperboard waste.

Global Garbage Truck Bodies Market Regional Synopsis

Regionally, the global garbage truck bodies market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the presence of a transportation network in the region, growing amount of waste generated, as well as the rising awareness amongst the populace about the ill effects of dumping wastes in close proximity. It was found that the East Asia and Pacific region is generated ~23% of world’s total waste in 2021.

Garbage-Truck-Bodies-Market-Scope

The global garbage truck bodies market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global garbage truck bodies market includes the following segments:

By Product Type

  • Front Loaders
  • Side Loaders
  • Rear Loaders

By Application

  • Residential Waste
  • Commercial Waste

 

 

 

 

 

Top Featured Companies Dominating the Global Garbage Truck Bodies Market

  • Boivin Evolution Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Dover Corporation
  • Oshkosh Corporation
  • Changsha Zoomlion Heavy Industry Science &Technology Development Co., Ltd.
  • Fulongma Group Co., Ltd.
  • Geeinknorba Group
  • Terberg RosRoca Group
  • Pak-Mor Ltd.
  • Labrie Environmental Group
  • Bridgeport Manufacturing

 

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2022 Research Nester. All Rights Reserved