The APEJ and Latin America are expected to witness major growth owing to massive waste originating from the commercial, industrial, and healthcare sectors. Adding to this, the MEA and Eastern Europe are also expected to register healthy CAGRs over the forecast period.
New York, NY -- (SBWIRE) -- 04/09/2018 -- Garbage Collection Trucks Market: Introduction
Garbage collection trucks are specifically designed for picking up waste and then moving it to the designated place for landfills and treatment. The modern trucks are now incorporated with advanced technologies that make collection and transportation of waste material effective. Innovations such as leak-proof body for handling waste with moisture content and stronger lifting arms have improved the usability and capability of the garbage collection trucks. New technologies in the fleet management sector, weight monitoring and bin identification to monitor the collected weights have enabled garbage collection trucks manufacturers to employ new features for improving the overall experience along with operational saving.
There are significant opportunities for players coming up with new designs by upgrading the traditional garbage collection trucks. As municipal authorities are collecting waste materials according to their type, garbage collection trucks with new features required for doing a specific job have emerged in the recent past. For instance, new trucks incorporated with split body design that can pick food or organic waste and trash simultaneously are gaining popularity in the garbage collection trucks market. The electric garbage collection trucks are expected to become a major component for the waste collection systems in the coming years as authorities are looking to reduce the impact on the local environment. In addition to opportunities related to renewable energy generation, electric trucks have relatively low noise which ultimately reduces the level of noise pollution.
Garbage Collection Trucks Market: Drivers and Restraints
One of the major factors driving the demand is the listing out of new regulations from government authorities in an effort to discourage landfill and shift towards new segments such as recycling. The ongoing efforts especially in developing countries located in Asia Pacific, Africa and Latin America for waste management by government organizations have sparked the demand for garbage collection trucks. The amount of waste is expected to drastically increase due to rising population over the forecast period. The rising number of opportunities for individuals in urban areas is resulting in population shift from rural areas towards cities. Therefore, with the rise in urban population, waste generation is also expected to remain high.
The ongoing rapid industrial growth will result in waste generation in larger amount and force industries as well as authorities to use advanced waste treatment plants and related infrastructure. Therefore, there will be need for large numbers of garbage collection trucks to match the generated waste. The lack of interest from organizations associated with waste generating sectors mainly commercial, healthcare, and food are expected to restrain the overall industry growth in the coming years. Over the forecast period, waste management is estimated to become equally important for industrial participants largely supported by rising waste handling cost and regulations from the respective bodies.
Garbage Collection Trucks Market: Segmentation
On the basis of type, the garbage collection trucks market can be segmented into:
On the basis of functionality, the garbage collection trucks market can be segmented into:
On the basis of application, the garbage collection trucks market can be segmented into:
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Garbage Collection Trucks Market: Regional Outlook
The global garbage collection trucks market is segmented into seven key regions: North America, Latin America, Western Europe and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). In the coming years, Western Europe, Japan and North America are expected to register growth owing to market shift towards advanced waste treatments such as smart collection and sorting, recycling and incineration with energy recovery. The APEJ and Latin America are expected to witness major growth owing to massive waste originating from the commercial, industrial, and healthcare sectors. Adding to this, the MEA and Eastern Europe are also expected to register healthy CAGRs over the forecast period.
Garbage Collection Trucks Market: Key Participants
Examples of some of the market participants identified across the value chain of the global garbage collection trucks market include:
Fujian Longma sanitation
Dongfeng Motor Group