Published on: May 2022
Garbage trucks - an essential
The garbage truck market was worth USD 6.0 billion in 2019 and is expected to increase to USD 8.6 billion by 2027, with a CAGR of 3.5 percent from 2020 to 2027. With increased concerns about proper waste management practices, garbage collection truck innovations are also on the rise to make the waste disposal and recycling process easier. The Global Garbage Truck Market research offers a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market variables.
Increased automation has led to a rise in the market share of garbage trucks
Garbage collection trucks are no longer lagging behind, thanks to increased automation in many industry verticals and technological breakthroughs. Because garbage collection trucks are such a large investment, end-user demand for high-end functionality is increasing. As a result, manufacturers are looking for innovative ways to extend the life of their products while also incorporating new features such as real-time monitoring and the inclusion of various new equipment for garbage collection and segregation from the streets. The market for waste collection trucks is likely to benefit as a result of this. As a result, there is a considerable demand for electric and hybrid electric vehicles, particularly in the case of heavy-duty trucks, which contribute significantly to hazardous fuel emissions. Furthermore, because of their lower costs and larger impact, electric vehicles will have a significant impact on emissions. As a result, manufacturers are leaning toward the development of electric garbage collection vehicle technology, as electric-powered vehicles will be a crucial element in supplementing the global garbage collection truck market's growth.
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