Garbage Trucks Market: Introduction
- Rise in need for waste management worldwide is fueling the demand for garbage trucks accordingly
- Garbage trucks are vehicles that are designed to collect and transport municipal solid waste, industrial waste, biomedical waste, or any other such types of waste to segregation area or dumping grounds
Key Drivers of Garbage Trucks Market
- The global population is rising consistently. According to the statistics by the United Nations, the global population is projected to reach 9.7 billion by 2050. Moreover, a large number of people are migrating toward urban areas for education, employment, or other purposes. This rise in population and urbanization has led to increased generation of waste, worldwide. In September 2018, the World Bank stated that global waste is expected to grow by 70% by 2050. This rise in generation of waste has boosted the demand for efficient waste management, which includes collection, segregation, treatment, and disposal. The primary step in waste management is waste collection, which is performed using specially designed vehicles, termed as garbage trucks. Garbage trucks, or trash trucks, or dump truck perform door-step collection of small quantities of waste and haul the collected waste to a waste treatment facility for further processing. Thus, increase in demand for waste management owing to rising population and urbanization is fueling the global garbage truck market.
- The number of construction activities is increasing across the globe amidst rising demand for housing spaces, infrastructure development, and other such requirements in order to develop livable towns. A large amount of waste is generated at these construction sites daily, which further drives the demand for waste management. Furthermore, the number of industries is increasing across the globe, which further drives the amount of waste generated, thus propelling the demand for efficient waste management system. Municipalities & government agencies are increasing their fleet of garbage trucks to handle the high flow of waste and to cater to the rising demand for waste management. Thus, an increase in amount of waste generated by industries and at construction sites is fueling the global garbage truck market.
Challenges in Garbage Trucks Market
- Garbage trucks are off-road vehicles and require more power to operate. Therefore, garbage trucks have high initial cost and maintenance charges. These factors are restraining the global garbage truck market
Impact of COVID-19 Pandemic on Garbage Trucks Market
- The COVID-19 pandemic disrupted economies of all the affected nations. Rise in number of patients detected and admitted in hospitals is further driving the amount of bio-medical waste that is generated. This increase in waste generation from healthcare facilities has boosted the demand for garbage trucks.
Asia Pacific to Hold Significant Share of Global Garbage Trucks Market
- Asia Pacific held a dominant share of the global garbage truck market, as the region is home to densely populated countries such as China, India, and Indonesia, which generate significant amount of waste annually, thereby fueling the demand for efficient waste management. Moreover, cleanliness programs started by government agencies in the region are boosting the fleet of garbage trucks. These factors are contributing toward the dominance of Asia Pacific in the global garbage truck market.
Key Players Operating in Garbage Trucks Market
The global garbage trucks market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the garbage trucks market are:
- Combilift Material Handling Solutions
- Labrie Enviroquip Group
- Doosan Corporation
- Fujian Longma Environmental Sanitation Equipment Co., Ltd.
- BAS Mining Trucks
- BELAZ NORTH AMERICA INC
- Cummins Inc.
- ETF HOLDING B.V.
- Hitachi Construction Machinery Co. Ltd.
- Deutz AG
- Kubota Corporation
- AB Volvo
- McNeilus Truck & Manufacturing
- Zoomlion Heavy Industry Science & Technology Co. Ltd.
Global Garbage Trucks Market: Research Scope
Global Garbage Trucks Market, by Propulsion
Global Garbage Trucks Market, by Product Type
Global Garbage Trucks Market, by End-use Industry
- Municipal Waste Management
Global Garbage Trucks Market, by Capacity
- Below 25 Metric Tons
- 25-50 Metric Tons
- 51-150 Metric Tons
- 151-300 Metric Tons
- Above 300 Metric Tons
Global Garbage Trucks Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.