The global Waste or Garbage Collection Vehicle market gathered revenue around USD 11 Billion in 2020 and market is set to grow USD 18.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 5.1% during the prediction period 2021 to 2027. Manufacturers are focusing on the introduction of new features, such as real-time monitoring system, and several new equipment for the collection of waste from segregation and streets, as more number of consumers are preferring zero-emission waste or garbage collection vehicles and autonomous vehicles due to their clean and economical operation. The increase in investments by major players in autonomous vehicles and their applications for improving vehicle safety is likely to drive the global waste or garbage collection vehicle market. For instance, in the latest research and development on self-driving vehicles, the Volvo Group, together with Renova, is testing an autonomous refuse truck that has the potential to be used across the urban environment. The Volvo truck is loaded with the latest technologies and innovations. It uses a surveying method called LIDAR to measure distance to a target by illuminating that target with a pulsed laser light, and measuring the reflected pulses with a sensor.
The new study made on Waste or Garbage Collection Vehicle market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2027. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics.
COVID-19 Impact:
The industrial report mentions about the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The Waste or Garbage Collection Vehicle report proficiently explains about the resulting factors and concerns of manufacturers. Researchers have also well-explained about how the producers and providers will tackle with the ongoing epidemic and the key strategies to be adopted post pandemic for turning their businesses back to normal.
Regional Insights:
The Waste or Garbage Collection Vehicle market is segmented as North America, South America, Europe, Asia Pacific, and Middle East and Africa. Researchers have thoroughly studied about the historical market. With extensive research, experts have offered details on the current and the forecast demand made by these regions. The Waste or Garbage Collection Vehicle report also includes highlights on the prevailing product demanded by end users and end customers for better understanding of product demand by producers. This will help the producers and the marketing executives to plan their production quantity and plan effective marketing strategies to more buyers. Businesses can hence, increase their product portfolio and expand their global presence. Waste or Garbage Collection Vehicle market research report further offers information on the unexplored areas in these regions to help the producers to plan promotional strategies and create demand for their new and updated products. This will again help the manufacturers to increase their customers and emerge as leaders in the near future.
Challenges for Waste or Garbage Collection Vehicle Market
Low awareness about advanced technologies and waste management among people of developing nations, such as Ghana, Sudan, Madagascar, and Pakistan is estimated to lead to reduced demand for technology and services. Zero-emission waste or garbage collection vehicles, which comprise multiple interfaces, is significantly expensive and hence, add to final cost of the vehicle. This, in turn, hampers the demand for waste or garbage collection vehicles. Moreover, cost is a major factor that influences vehicle sales in developing countries.
The COVID-19 pandemic hampered majority of businesses across the globe, owing to the forced lockdown, which caused people to stay at home. The forced lockdown led to a decline in vehicle sales; subsequently, contracting the global waste or garbage collection vehicles. However, the global waste or garbage collection vehicle is projected to expand from 2021, owing to economic measures taken by governments to recover from financial losses caused by forced shutdown of business activities during the COVID-19 pandemic in 2020.
Major Players Covered in this Report
The updated market research report on Waste or Garbage Collection Vehicle market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
· Company Overview
· Company Market Share/Positioning Analysis
· Product Offerings
· Financial Performance
· Recent Initiatives
· Key Strategies Adopted by Players
· Vendor Landscape
· List of Suppliers
· List of Buyers
Significant Market Participants Operational in the Waste or Garbage Collection Vehicle Market are:
The waste or garbage collection vehicle market include AUTOCAR, LLC., AMS Spa, EcoZeta S.r.l., EOW INTERNATIONAL COLLABORATION & MANUFACTURING LLC, FAUN Umwelttechnik GmbH & Co. KG, Fratelli Mazzocchia Spa, GEP ECOTECH CO., LTD., Hidro-Mak, MS DORSE, Mecagil-Lebon, Nord Engineering s.r.l., TERBERG ROSROCA GROUP, and XCMG Group.
Market Segmentation:
The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Waste or Garbage Collection Vehicle report.
Global Waste or Garbage Collection Vehicle Market: Segmentation
- Waste or Garbage Collection Vehicle Market, by Loader Type
- Front Loaders
- Rear Loaders
- Automated Side Loaders (ASL)
- Pneumatic Collection
- Grapple Trucks
- Waste or Garbage Collection Vehicle Market, by Technology
- Waste or Garbage Collection Vehicle Market, by Vehicle Type
- Light Duty Vehicle
- Medium Duty Vehicle
- Class 3
- Class 4
- Class 5
- Class 6
- Heavy Duty Vehicle
- Waste or Garbage Collection Vehicle Market, by Application
- Residential
- Non-residential
- Industrial Waste
- Municipal Waste
- Commercial Waste
- Domestic Waste
- Agricultural Waste
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Manufacturers
The report includes comprehensive company profiling of leading and emerging companies competing in the global Waste or Garbage Collection Vehicle market. It provides a detailed list of players operating at a global level. The players have been listed according to the type of products they offer in the global Waste or Garbage Collection Vehicle market and other factors. As part of the company profiling, the analysts authoring the report has provided the market entry year of each player considered for the research study. The report also offers extensive price, volume sales, and revenue analysis by the manufacturer at the global level for the period 2016-2021.
In this study, the years considered to estimate the market size of Waste or Garbage Collection Vehicle are as follows:
- History Year: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Year 2021 to 2027
The Queries answered by Waste or Garbage Collection Vehicle Market Research Report include:
- What are the key producers, equipment suppliers, raw material suppliers, end users, distributors and traders in the Waste or Garbage Collection Vehicle Market?
- What are the crucial factors impacting the Waste or Garbage Collection Vehicle Market Growth?
- What are production processes, major problems or obstacles, and solutions to tone down the development risk?
- What is the contribution made by regional manufacturers to the overall market?
- What are the major market segment, influential trends, market potential, and key challenges that the market is witnessing?
Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
OBJECTIVES OF THE STUDY
- To analyze and forecast the Waste or Garbage Collection Vehicle market, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global Waste or Garbage Collection Vehicle market on the product type, and end-use industry
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Waste or Garbage Collection Vehicle market
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