(MENAFN- EIN Presswire) EINPresswire/ -- What Is The Expected Cagr For The Garbage Truck Market Through 2025?
In recent times, the garbage truck market has been experiencing robust growth. The growth is projected to surge from $16.43 billion in 2024 to $17.38 billion in 2025 with a compound annual growth rate (CAGR) of 5.8%. Factors contributing to this growth during the historic period include increasing urbanization and population growth, concerns relating to health and sanitation, the influence of the industrial revolution, responses to public health crises, and initiatives for waste recycling.

In the coming years, a solid uptrend is foreseen for the garbage truck market as its size is predicted to hit $22.56 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.7%. This growth during the projection period is due to a shift towards hybrid and electric vehicles, advanced waste management structures, an influx in demand for automated collection systems, and AI adoptions in waste sorting. The forecast period also points to emerging trends such as on-demand waste collection services, robotics participation in waste management, improved waste segregation abilities, bespoke truck models, and intelligent fleet management systems.

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What Are The Driving Factors Impacting The Garbage Truck Market?
The necessity for waste management is anticipated to boost the expansion of the garbage truck market in the future. The method of collecting, managing, eliminating, and effectively dealing with waste products is known as waste management. Garbage trucks play an important role in efficiently collecting and transferring solid waste from residential, commercial, and industrial areas to appropriate disposal or treatment facilities. For example, a report by the United Nations Environment Programme (UNEP), a UN environmental authority based in Kenya, projected in 2024 that the generation of municipal solid waste is set to rise from 2.1 billion tonnes in 2023 to 3.8 billion tonnes by 2050. As a result, the garbage truck market is growing due to the increasing demand for waste management.

Which Players Dominate The Garbage Truck Industry Landscape?
Major players in the Garbage Truck include:

. Tata Ltd.
. Mack Trucks Inc.
. Bucher Municipal
. FAUN Zoeller
. Dennis Eagle Ltd.
. McNeilus Companies Inc.
. Heil Environmental Industries Ltd.
. Labrie Enviroquip Group
. Peterbilt
. Curbtender Inc.

What Are The Future Trends Of The Garbage Truck Market?
Prominent entities in the garbage truck market are concentrating on the creation of inventive solutions, such as electric garbage trucks, which aim to lower carbon footprints, enhance fuel economy, and prop up eco-friendly waste management strategies. Electric garbage trucks, also referred to as electric refuse trucks or simply electric trash trucks, are waste collection automobiles operated by electric power packs as opposed to conventional internal combustion engines (ICE). For example, in the month of December 2023, WIN Waste Innovations, an American enterprise providing commercial and residential waste elimination and recycling services initiated the first completely electric garbage trucks in Boston, signifying a notable advancement in the city's sustainable waste management efforts. The venture received monetary support from both the U.S Environmental Protection Agency and the Massachusetts Department of Environmental Protection via a competitive grant scheme, alongside contributions from WIN Waste's own funds.

Global Garbage Truck Market Segmentation By Type, Application, And Region
The garbage truckmarket covered in this report is segmented –

1) By Type: Front Loaders, Rear Loaders, Side Loaders
2) By Technology: Manual, Automatic, Semi-Automatic
3) By Fuel Type: Gasoline, Diesel, Electric
4) By End User: Industrial Corporations, Municipal Authorities

Subsegments:
1) By Front Loaders: Commercial Front Loaders, Residential Front Loaders
2) By Rear Loaders: Standard Rear Loaders, Automated Rear Loaders
3) By Side Loaders: Automated Side Loaders, Manual Side Loaders

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Which Region Holds The Largest Market Share In The Garbage Truck Market?
In 2024, North America led the market for garbage trucks. The market report for garbage trucks encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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