According to the analysis, the garbage collection trucks market is projected to grow at ~4% CAGR during the forecast period. Rising demand for garbage collection trucks from municipal and industrial sectors is likely to propel the garbage collection trucks market growth during the forecast period.
According to the detailed research and deep study, increasing industrial activities & huge waste generation across the globe has led to the growth of the garbage collection trucks market. Moreover, heavy demand for refuse trucks for municipal and industrial garbage collection applications is set to directly contribute to the growth of the garbage collection trucks market during the forecast period.
Significant demand for automatic garbage collection trucks is contributing to the growth of the garbage collection trucks market throughout the forecast period. The global garbage collection trucks market value is projected to be ~US$ 7 Bn by the end of 2019, and is expected to grow ~1.3X by the end of the 2029.
In December 2017, Heil, an Environmental Solutions Group company, announced the expansion of its dealership network, with the addition of New Hampshire and Vermont.
Furthermore, the garbage collection trucks market is significantly fragmented. In order to sustain the intense market competition, merger & acquisition strategies are implemented. Moreover, many manufacturers are focusing on the expansion of their production capabilities for garbage collection trucks, which in turn, propels the growth of the garbage collection trucks market in the forecast period.
As per reportâs deep dive analysis, key players in the garbage collection trucks market are offering garbage collection trucks with characteristic properties, based on product type, such as front loader, rear loader, and side loader. Maximum demand for garbage collection trucks is from the municipal end-use industry, followed by industrial, which will result in heavy surge in the garbage collection trucks market growth during the forecast period.
Owing to factors such as rapid industrial growth, urbanization, stable political backdrop, and governmental regulations in the country, China is expected to hold a prominent market share in the garbage collection trucks market during the forecast period.
Presence of major market players in the country and entrants in merger & acquisition activities are key factors pushing the growth of the garbage collection trucks market in China.
