The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Garbage Collection Trucks market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Garbage Collection Trucks
The report offers actionable and valuable market insights of Garbage Collection Trucks. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Garbage Collection Trucks Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Garbage Collection Trucks, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Garbage Collection Trucks Market.
Surpassing a valuation of US$10Bn by the end of the forecast period (2019-2029), the garbage collection trucks market is forecast to follow a moderate growth trajectory. Management of solid waste is one of the most intractable problems for local authorities in urban centers. Collection of waste is a prime concern, as governments are investing a large amount in solid waste management.
This has accelerated the demand for garbage collection trucks. Proliferation of industries, burgeoning urban population, and waste generation is pushing the demand for garbage collection trucks. Owing to increased spending on waste management plans, Fact.MR says that the global garbage collection truck market is expected to grow at a value CAGR of 4.5% during the forecast period.
Key Takeaways of Garbage Collection Trucks Market
- The municipal garbage segment is estimated to create an absolute dollar opportunity of around US$ 2 Bn during the forecast period and is estimated to account for 50% of the overall value opportunity in the global market by the end of 2029
- In the technology segment, automatic garbage collection trucks are projected to expand 1.6X as compared to 2019, by witnessing a value CAGR of 5% during the forecast period
- Rear loaders segment is forecasted to expand 1.3X as compared to the side loaders segment by the end of forecast duration
- Owing to an increase in awareness for proper waste disposal facilities in India and China, both countries collectively accounted for 20% of the global revenue share in 2019
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“Global garbage collection trucks market will create enormous opportunities, as prominent players in the industry are focusing on innovative approaches to deliver solutions in order to cater to the heavy demand from end use industries” says the Fact.MR analyst.
Manufacturers Focus on Automatic Garbage Collection Trucks
Manufacturers of garbage collection trucks are rapidly shifting from conventional to automatic technology. Trending electric garbage trucks in the market are expected to be a major opportunity to move away from the conventional diesel-fuel-burning garbage trucks which tend to produce harmful emissions that impact the environmental negatively. Launch of advanced products that offer various operational benefits and comply with the existing regulations has become a key trend among market actors. Moreover, manufacturers are exploring new ways to extend the shelf life of garbage trucks. Stakeholders are also focusing on additional features such as real time monitoring, addition of new equipment for collection of waste from streets, and segregation of waste. For instance, in April 2019 and in June 2019, the Lion Electric Co. and Boivin Évolution launched co-developed electric garbage collection class 8 truck with a powertrain and a fully electric & automated collection hopper.
Key Segments of the Garbage Collection Trucks Market
Fact.MR’s study on the garbage collection trucks market offers information divided into four important segments – product, technology, end-use, and region.
This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
- Front Loaders
- Rear Loaders
- Side Loaders
- Municipal Garbage
- Industrial Garbage
- North America
- Latin America
- East Asia
- South Asia
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More Valuable Insights on Garbage Collection Trucks Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Garbage Collection Trucks, Sales and Demand of Garbage Collection Trucks, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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