Research Nester published a report titled “Waste or Garbage Collection Vehicle Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalwaste or garbage collection vehicle market in terms of market segmentation by type, vehicle type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global waste or garbage collection vehicle market is estimated to occupy a hefty amount of revenue by growing at a CAGR of ~4% during the forecast period, i.e., 2022 – 2030, owing to the rising amount of waste, and increasing concerns to effectively manage waste around the world. Apart from these, growing technological advancements to improve the performance of garbage collection trucks is also expected to drive market growth.
The market is segmented by type, vehicle type and application. Based on vehicle type, the segment for medium-duty vehicle is anticipated to grab the largest market share during the forecast period on the back of high use of these trucks for small dumps and lighter garbage truck applications. Furthermore, by application, the urban garbage treatment segment is projected to grab the largest share ascribing to the growing urban population globally.
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Geographically, the global waste or garbage collection vehicle market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the growing investments by prominent waste collection companies to improve their product portfolio. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the high population of the region.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Growing Concerns for Effective Waste Management to Boost Market Growth
As the population and waste generated by the world is rising, the negative implications related to improper garbage disposal are also increasing. Furthermore, a large amount of waste generated in the world is not managed in an environment friendly manner. These are considered to be the major factors projected to drive market growth in the near future.
However, expensiveness of waste collection vehicles is expected to operate as key restraint to the growth of the global waste or garbage collection vehicle market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global waste or garbage collection vehicle market which includes company profiling of AMS Spa, AUTOCAR, LLC., AB NARPES TRA & METALL – NTM, FAUN Umwelttechnik GmbH & Co. KG, Fratelli Mazzocchia Spa, GEP ECOTECH CO., LTD., EcoZeta S.r.l., Environmental Solutions Group, EOW INTERNATIONAL COLLABORATION & MANUFACTURING LLC, Nord Engineering s.r.l., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global waste or garbage collection vehicle market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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