Electric Garbage Truck Market Size, Share, and Covid-19 Impact Analysis, By Product (Front Loader, Rear Loader, Side Loader), By End-use (Municipal Garbage, Industrial Garbage, Others), and Regional Forecast, 2024-2032

Waste management has been one of the top priorities among international authorities because of the meteoric piling of garbage and inappropriate waste management methods. According to World Bank, in 2020, the world generated nearly 2.24 billion tons of solid waste. Thus, authorities have continuously tightened industrial and municipal waste management regulations and invested significantly to ensure efficient waste management practices.

Electric Garbage Trucks are essential for proper waste management. Unlike conventional internal combustion-powered garbage trucks, Electric Garbage trucks prove to be an ultimate winner as they save nature by helping manage the waste and emitting zero particulates in the atmosphere. Electric Garbage Trucks collect and transport solid waste to treatment facilities for functions such as recycling and landfilling.

The demand for cargo tires has a positive outlook because of some critical drivers. Firstly, rapid industrialization significantly adds to the garbage, further propelling the demand for proper waste management. Secondly, the burgeoning population and Urbanization have led to increased waste generation worldwide. Increasing preference for hygiene and disease-free community will fuel the waste management market, resulting in greater adoption of Electric Garbage trucks.

The growing awareness among government bodies for a greener environment has significantly propelled the demand for Electric Garbage trucks for waste management purposes.

Impact of Covid-19 on the Electric Garbage Truck Market

The pandemic introduced a temporary worldwide shutdown in many industry sectors. This temporary shutdown impacted various industries negatively, leading to revenue decline, loss of product sales, slowed production rate, unemployment, and many other severe impacts. This led to an economic downturn as the majority of the manufacturing facilities were suspended or working at half capacity.

The covid-19 pandemic had a significant impact on the Electric Garbage Truck market. The pandemic has significantly affected frontline staff, including the cleaning staff. Hence, it homebound many cleaning staffs, resulting in a decreased usage of garbage vehicles. There has been havoc in almost every segment of the industry, leading to a significant downfall in industrial operations, resulting in a lower production of industrial garbage. The decreased garbage and its related challenges to collect have plummeted the Electric Garbage Truck market.

The importance of automated garbage trucks has grown considerably during the COVID as they can load and dump the garbage automatically with the least human intervention, providing contactless solutions for garbage collection. Disruption in the supply chain piled up significant challenges for truck manufacturers as they could not procure sufficient raw materials and, at the same time, had substantial cost pressure due to an increase in commodity prices throughout the globe. Many manufacturers had to cut down on their production capacity due to a shortage of workforce and social distancing norms.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships


• Porter's Five Forces Analysis


• Technological Developments


• Impact of COVID-19 on the Electric Garbage Truck  Market

Regional Analysis

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The Asia-Pacific region is predicted to dominate the Electric Garbage Truck market over the forecast period. Consumers are increasingly aware of the negative health implications of open dumping. Due to the growing population in this region, there is a significant increase in household and municipal waste, which has compelled the government to implement requisite actions, design a regulatory framework and develop waste management strategies. Rising Urbanization and the need for other goods and packaged foods have also added weight to the dump, resulting in an increased demand for Electric Garbage Trucks. The number of construction activities is increasing in the region amidst rising demand for housing spaces, road infrastructure, and industrial development, which has pushed the government to increase the fleet of Electric garbage Trucks to handle the waste. Additionally, with Government regulation, stricter emission norms, and the urge to move towards a carbon-free economy, demand for Electric Garbage Trucks will see impressive growth over the coming years.

Key Players Covered

The report includes the profiles of key players such as Mack Trucks, Lion Electric, XL Fleet, Daimler, Peterbilt DAF, Nikola, YUTONG Group, BYD, Skywell New Energy Vehicles Group, Dongfeng Motor Corporation, Higer Bus Company, Zhongtong New Energy Vehicle, and Fulongma Group.

Segmentation

Key Industry Developments

• April 2022: Heli, a company offering refuse collection truck bodies acquired certain intellectual property from Boivin Evolution Inc. to increase its presence in the electrically–powered refuse collection vehicle market.


• July 2022: Mercedes eEconic expands its fleet of EV Garbage truck market.