Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Garbage Truck Bodies Market size was valued at USD 4.42 billion in 2024 and is expected to reach USD 8.54 billion by 2037, registering around 5.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of garbage truck bodies is assessed at USD 4.8 billion.
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 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.
Garbage Truck Bodies Sector: Growth Drivers and Challenges
Growth Drivers
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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.
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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 Urbanization – for instance, in 2020, more than 75% population of the developed economies lived in cities which is expected to keep increasing.
Challenges
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Stringent Regulatory Framework
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Changing Characteristics of Waste Generated
- High Cost of Maintenance
Garbage Truck Bodies Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.2% |
|
Base Year Market Size (2024) |
USD 4.42 billion |
|
Forecast Year Market Size (2037) |
USD 8.54 billion |
|
Regional Scope |
|
Garbage Truck Bodies Segmentation
Product Type (Front Loaders, Side Loaders, Rear Loaders)
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 2037, 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.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
|
|
By Application |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Garbage Truck Bodies Industry - Regional Synopsis
Asia Pacific industry is expected to account for largest revenue share by 2037. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2037, 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.
Companies Dominating the Garbage Truck Bodies Landscape
- 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
Recent Developments
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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.
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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.
Author Credits:
- Report ID: 4473
- Published Date: Dec 20, 2024
- Report Format: PDF, PPT
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Garbage Truck Bodies Market Report Scope
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