Garbage truck is a truck used to clean & collect garbage from societies, streets, localities, and roads. It is specially designed to collect municipal waste and deposit the waste at recycling or waste treatment & management plant. It is also known as refuse collection truck, rubbish truck, trash compactor, waste compactor truck, bin lorry waste collection vehicle, bin wagon, and dustcart. It is generally used in urban and suburban areas. The truck has compartments (to collect waste), which can be situated either in front or at the rear of the vehicle. The trucks vary in size according to the need of the service. Some of the associated key features are included high quality hydraulic system, suitable shape or the rational structure, prolonged service life, dongfeng chassis, increased durability and reliability of performance.
According to study, “Global Garbage Truck Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global garbage truck market are Heil Co, McNeilus Truck & Manufacturing, Kirchhoff Group, Bridgeport Truck Manufacturing, Inc., New Way, Haul-All Equipment, Labrie Wnviroquio, Environmental Solutions Group., Fujian Longma sanitation, Ceec Trucks Industry, Dongfeng Motor, Galbreath, EZ Pack, Terberg Matec UK Ltd., Mack, Autocar Trucks, Pak-Mor, Faun Umwelttechnik GmbH & Co. KG., Curbtender, Daimler AG, Legras Industries, Xiagong Chusheng (Hubei) Special-Purpose Vehicle Co., LTD, Nantong Mingnuo Electric Technology Co. Ltd., Curbtender Sweepers, LLC, Wayne, Cheng Li, Foton Car, Zoomlion, Cnhtc. Key manufacturers are progressively discovering new ways for extending the life as well as imbibe additional features for instance addition of various novel equipment for collection of waste from streets, real time monitoring and segregation of waste.
Based on product type, garbage truck market is segmented into front loaders, rear loaders and side loaders. Based on technology, market is segmented into semi-automatic technology and manual technology. Based on components, market is segmented into telescopic cylinder, control box, container cylinder, slide cylinder, tailgate cylinder, shovel cylinder, hydraulic oil tank, a rear directional control valve, a front directional control valve and counter pressure valve etc. In addition, based on application, market is segmented into building & mining industry, urban garbage treatment and others.
The garbage truck market is driven by growth in automation in various industrial verticals, followed by rise in need for inculcation of high-end features among end-users, growth in development of new garbage collection equipment and waste segregation, difficulty in managing different type garbage and primitive & inappropriate waste management method, increase in advancements in technology, and rise in awareness for proper waste disposal facilities. However, high cost of trucks may impact the market. Moreover, rise in government initiatives, such as Swach-Bharat and smart-city, to create a healthy & clean environment are expected to offer significant opportunity to the market. Furthermore, change in fashion trends and high demand for different packaged products is key trends for market.
Based on geography, the North-American region holds major share, followed by European region in garbage truck market owing to strong presence of key players and growth in regulation and strong policies related to environment safety in the region. The Asian-Pacific region is expected to witness higher growth rate due to large industrial base, rise in population & increase in industrialization and increase in stable residential sector over the forecast period. It is projected that future of the market will be bright on account of increase in popularity of public-private partnerships between municipalities and private companies during the forecast period. The worldwide market for is estimated to grow at a CAGR of approximately 5.5% over the next five years, will reach US $3080 million in 2024, from US $2240 million in 2019.
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Ankur Gupta, Head Marketing & Communications